Loan Paid by the director on behalf of the company and it's paid by director's personel savings account. How it's accounted and what are the document maintain by the company.
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Sir , its the receipt entry , the loan is not received through bank account.its 30 lakhs. So only cash entry is applied,then how pass the cash receipt , section 269 SS of IT Act applied?
If you are handling a real life case involving all these complexities, we suggest you to take help of a practising chartered accountant and a company secretary.