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Abhinav (Querist)
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21 September 2011 a company of singapore sells goods to a proprietorship concern in india whose prop is also director that company.

Than will there be any clubbing of income in the hands of prop. by considering them as associate concerns????

assuming prop. is resident....

VISHRUT

VISHRUT (Expert)
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21 September 2011 Yes it will be clubbed as it is nothing but an adjustment to avoid tax which do not hold good in the eyes of Income tax Department and amount will be clubbed.

Abhinav

Abhinav (Querist)
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21 September 2011 please tell me under which section or rule there will be clubbing and what amount of profit of singapore company will be clubbed as there is another local director(of singapore) holding 10% share???

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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21 September 2011 what clubbing u are talking about
the Ao may invoke transfer pricing provisions

CA MANOJ GUPTA
JODHPUR
09828510543

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