advances to sister concerns of a private limited company
This query is : Resolved
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.
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.
Guest
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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