Amt to sister concern

This query is : Resolved

Chandani Gadhia (Querist)
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25 February 2015 If some amt is provided to sister concern and after 5 months, same amount is returned by sister concern to parent company.

How the above transaction should be treated for accounts and income tax?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 February 2015 should be ttreated as loan given and repaid,.

Rupesh Jain

Rupesh Jain (Expert)
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25 February 2015 its will be loan transactin and if loan giver is taking loan from bank its interest will be disallowed to rs. loan amount given to sister concern.

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