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Single Transaction above Rs. 20000/- u/s 40A(3)

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(Querist)
08 February 2011 Their are 3 Companies A, B & C
A is holding Company and B & C are subsidiaries companies

Can Company A Give Cash more then Rs. 20000/- to B & C in Single Transaction or not and Vice-Versa

and Can Company B & C can take and give each other Rs 20000/- in Cash in single days
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Guest (Expert)
08 February 2011 All the three companies are separate entities and therefore, no such payment will be allowed.

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