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Cash transfer by a firm to its sister concern

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(Querist)
19 September 2010 Is there any restriction for transfering cash from a Partnership firm to its sister concerns, is there any disallownace in act
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
19 September 2010 No as it will attract either section 40A(3) or section 269SS & 269T.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
19 September 2010 But if interest bearing funds are lent to sister concerns free of interest, proportionate interest will be disallowed in the hands of lending firm.
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