Jitendra A Bathija (Employee) (122 Points)
08 August 2009If a director, gives money to the company in which he is a director , then 1.whether that will be considered as loan from director .?
And if Yes then whether Co. has to pay interest on that ?
and again if yes , then whether tds will be deducted if it exceeds.2500?
shivanand s.k.
(3rd sem)
(30 Points)
Replied 08 August 2009
please send information about whether TDS applicable
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 28 August 2009
The payments made by director can be considered as loan from director. If approved by the Board, interest is paid on loan from directors. TDS is applicable @ 10% .
CAclubindia
