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advances to sister concerns of a private limited company

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(Querist)
20 April 2010 Dear Sir,

Can a pvt limited company make advances to its sister concerns(whether pvt ltd companies or others)? Such advances include the day to day expenses of sister concerns in the case of cash maintains at one company.
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Guest (Expert)
28 April 2010 Yes, It can advance. But under IT Act, it will be treated as deemed dividednd u/s 2(22)(e(
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