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    compliances for Director Loan

    Posted By : Divyansh / Published on : 28-Sep-2018 10:53 PM / View : 324 / Comment : 1

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    If one of the directors of my client company (Public) is receiving a loan of a certain amount from its own company ! what mandatory disclosure he has to make under financials and annual filling compliance?
    Is AS-18 applicable to it?
    Please help me on urgent basis!!
    Read more on : loan director compliances

    • As per the recent amendment to companies (acceptance of deposit) rules 2014, every company (except govt company) must file a return in FORM DPT-3 of deposits, transactions that are not considered as deposits or both.

      Also, the one-time return of outstanding receipt (for previous financial year) of money or loan but not considered as deposits, to be specified in Form DPT-3 within 90 days of the beginning of next financial year.

      Disclosures in financial statement


      As per Rule 16A of Chapter V Companies (Acceptance of Deposits) Rules, 2014, For both public and the private company, it is mandatory to disclose about the amount received from the director or own Company as an unsecured in their financial statements.

      AS-18 will be applicable.

      11-02-2020 / 11:56:40 AM
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