DEAR ALL,
PLEASE TELL ME WEATHER A PRIVATE COMPANY REGISTERED AS TRUST UNDER INCOME TAX ACT CAN TAKE UNSECURED LOAN FROM DIRECTORS
THANKS IN ADVANCE AND PLEASE REPLY SOON FRIENDS
Ankit
(CA, CS)
(3064 Points)
Replied 02 May 2013
Dear Poonam,
Yes the company can borrow....just that, the interest paid should not be unreasonable.
otherwise, i dont think there is any problem.
- Ankit
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
