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Querist : Anonymous

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Querist : Anonymous (Querist)
28 December 2012 Hii...
My Query is as follows:

Can a Company (Let say ABC ltd.) transfer its funds in cash to its "Sister Concern Company" for some purpose ?
If yes ,
1.is there any limit for such fund transfer ?
2.is there any condition to disclose the purpose of such fund transfer?

What if the sister concern company has also given a loan to ABC ltd.?


PLEASE SOLVE THIS QUERY

THANK YOU!!!
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
28 December 2012 the company can not transfer funds by cash to its sister concern.
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2012 is there any section to read this ?
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Guest

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Guest (Expert)
04 January 2013 Section 269SS & 269T of Income Tax Act, 1961.
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