Company Law : Section 185 of Companies Act, 2013 goes beyond just regulating loans to directors—it encompasses a broader spectrum of transacti...
Company Law : "Learn about the prohibitions and restrictions under Section 185 of the Companies Act, 2013, regarding loans to directors, relativ...
Company Law : Among the provisions outlined in the act, Section 185 has garnered substantial attention due to its impact on loans and advances t...
Company Law : Explore Section 185 of the Companies Act, 2013, its exemptions, and practical examples. Learn when Section 185 is not applicable, ...
Company Law : Section 185 of the Companies Act 2013 Specifically provides about the Provisions related to Loan to directors by the company. In t...
Income Tax : The dispute concerned cancellation of IDS benefits due to non-payment. The Tribunal held that once IDS lapses, undisclosed income ...
Income Tax : The ITAT Mumbai deleted Rs. 10.84 crore addition made under Section 68, ruling that the assessee had properly documented loans and...
Corporate Law : Bombay High Court quashed reassessment proceedings initiated using data from a valid IDS declaration, holding that once accepted u...
Income Tax : Calcutta High Court ruling states payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disall...
Income Tax : ITAT Mumbai held that addition of notional interest on advances to related parties (i.e. the directors and sister concern/related ...
Company Law : The issue has been examined and it is hereby clarified that loans and/or advances made by the companies to their employees, other ...
The dispute concerned cancellation of IDS benefits due to non-payment. The Tribunal held that once IDS lapses, undisclosed income is taxable with mandatory penalty.
The ITAT Mumbai deleted Rs. 10.84 crore addition made under Section 68, ruling that the assessee had properly documented loans and repayments. Key takeaway: Genuineness of transactions with third-party entities can neutralize claims of unexplained credits.
Bombay High Court quashed reassessment proceedings initiated using data from a valid IDS declaration, holding that once accepted under the Income Disclosure Scheme, the Revenue cannot revisit or reassess the same income.
Section 185 of Companies Act, 2013 goes beyond just regulating loans to directors—it encompasses a broader spectrum of transactions involving individuals and entities connected to them.
Calcutta High Court ruling states payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disallowed under Section 40A(3) of the Income Tax Act.
“Learn about the prohibitions and restrictions under Section 185 of the Companies Act, 2013, regarding loans to directors, relatives, and subsidiaries.
ITAT Mumbai held that addition of notional interest on advances to related parties (i.e. the directors and sister concern/related parties) unsustainable as the assessee has been able to substantiate availability of sufficient interest free funds.
Among the provisions outlined in the act, Section 185 has garnered substantial attention due to its impact on loans and advances to directors. This article aims to provide a comprehensive overview of Section 185 and its implications for companies and directors.
Explore Section 185 of the Companies Act, 2013, its exemptions, and practical examples. Learn when Section 185 is not applicable, including loans to managing directors, loans for employee welfare, transactions between holding companies and subsidiaries, and transactions with shareholder approval. Understand the specific conditions for private limited companies to be exempt from Section 185 and explore a detailed example illustrating the exemptions. Stay informed to ensure compliance and make informed financial decisions for your company.
Section 185 of the Companies Act 2013 Specifically provides about the Provisions related to Loan to directors by the company. In this article we will understand about the provisions with their clear examples.
