Dear all,
Can a director write off the loan given by him to a private limited company? If so what will be the tax impact in his books (Director's).
This loan has been given as working capital loan.
Sandhya (Student) (23 Points)
16 December 2017Dear all,
Can a director write off the loan given by him to a private limited company? If so what will be the tax impact in his books (Director's).
This loan has been given as working capital loan.
Divakar agarwal
(Student)
(247 Points)
Replied 17 December 2017
Sandhya
(Student)
(23 Points)
Replied 20 December 2017
Mr. Divakar Agarwal
Thanks for your input. We have been looking for the impact mainly in the books of the individual (the director). Because he wants to write off that in his books which I believe is not possible.
Can you help substantiate this point mentioned above?
Divakar agarwal
(Student)
(247 Points)
Replied 20 December 2017
Sahad PV
(2 Points)
Replied 19 November 2019
A director has written off the loan he provided to the company. Now can the director set off this loss in his books on account of writing off the loan provided to the company? Is there any benefit in income tax for this loss?
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)