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Loan in cash
Hello friends
can pvt ltd company give loan in cash to directors or related parties? if yes then what is limit of it?
Directors and related parties already have credit balance in company.
Please guide
Replies (1)
1. As per section 185 of companies act 2013 no company can give a loan to its director or certain connections of directors..
Further cash loan in excess of rs. 20000/- is also prohibited under income tax act
Further cash loan in excess of rs. 20000/- is also prohibited under income tax act
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