Pvt ltd co

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Mohd Sarfaraz Latibani (Querist)
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04 March 2012 I have PVT LTD Co who is importing goods and selling all the goods to local dealer XYZ is a partnership firm and one of partner is also a director in the same PVT LTD Co, I want to know will be there be any problem from Income Tax Department.

Thanks

CA. Nitin Agrawal

CA. Nitin Agrawal (Expert)
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04 March 2012 Dear Mr. Mohd Sarfarz

Your case is covered under the Companies Act 1956 (Transaction in which director is related) & accounting (Transaction with related party).

As far as Income tax i dont think that there is any problem in it.

Others expert opinion sought in the matter to provide more information on it.

Regards