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
1 Replies
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
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