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Private limited company can accept loan from relative of director – MCA Notification

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,  SECTION 3, SUB-SECTION (i)]  Government of India  Ministry of Corporate Affairs  Notification  New Delhi, dated, the 15th September, 2015  G.S.R. (E). – In exercise of the powers conferred by sections 73 and 76 read with sub-section (1) of section 469 of the Companies Act, … Read more

Deduction in respect of payment of interest on loan taken for higher education under Section 80E

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  ·         Which kind of expenditure is eligible for deduction under section 80E? If loan is taken by an Individual for any study (i.e., any study after passing senior secondary examination or its equivalent) from bank, financial institution or an approved charitable institution, the amount of interest is deductible in the year in which the … Read more

All State / Central Cooperative Banks were permitted to grant gold loans up to Rs. 2 lakhs with bullet repayment option

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RBI/2014-15/395DCBR.CO.BPD (RCB).Cir.No.11/13.05.001/2014-15 January 08, 2015 The Chief Executive OfficerAll State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Gold Loan – Bullet Repayment Please refer to circular RPCD.CO.RF.BC.No.60/07.37.02/2009-10 dated March 5, 2010 wherein StCBs/CCBs were permitted to grant gold loans up to Rs. 1.00 lakh with bullet repayment option. 2. On a review, it has been … Read more