WebJan 4, 2024 · The shareholder of a company is the individual who is registered as the shareholder in the books of the company. The HUF, the assessee in this case, was not … WebMay 3, 2024 · Loans Vs Deposits. Rule 2 (1) (c) of Companies (Acceptance of Deposits) Rules, 2014 states that the deposit includes any receipt of money by way of loan or deposit, except. (viii) any amount received from a person who, at the time of the receipt of the amount, was a director of the company or a relative of the director of the Private company:
Dy. Commissioner Of Income Tax-2, ... vs Sh. Krishna Mohan …
WebJul 27, 2024 · Replied 27 July 2024. Since HUF is one person as per Income Tax Act, a Proprietor of a business can be an Individual or a HUF. A Proprietorship concern is Not … WebJul 10, 2014 · As per Section 3 (42) of General Clauses Act, 1897, "Person" shall include any company or association or body of individuals, whether incorporated or not. Hence, a Pvt ltd Company can accept a loan from HUF. Rule 2 (c) (viii) The Companies (Acceptance of Deposits) Rules, 2014 – “deposit” includes any receipt of money by way of deposit or ... share hindcopper
Can huf be made a shareholder and grant loan to a pvt ltd?
WebThe section says that the shareholder i.e. in this case assessee Sri K.M Agarwal should be the shareholder of not less than 10% of voting rights .The section does not bar to club the individual capacity of the shareholder with his capacity as 'Karta' in HUF. WebApr 3, 2024 · The shareholder and director are two different entities, though a shareholder can be a director at the same time. The shareholder, as already mentioned, is a part-owner of the company and is entitled to privileges such as receiving profits and exercising control over the management of the company. A director, on the other hand, is the person ... WebOct 30, 2024 · Therefore, if companies having loan from shareholders as on March 31, they have to select remote button no. 2 i.e. ‘Return of Deposit’ to show this amount. One can opine that to show loan from shareholder Company always will select Remote Button No. 2 or Remote Button no. 4. Author – CS Divesh Goyal, GOYAL DIVESH & … sharehire medicover