Newly formed Subsidiary Company.
This query is : Resolved
12 June 2008
Hello Friends,
I am doing an audit of newly incorporated company which is a subsidiary of a foreign company. They are recieving some money from the Holding Company before incorporation for certain preliminary expenses. And they are refunding that money after some months to their Holding Company. So whether they falls within the ambit of Section 269SS and Section 269SST
I am doing an audit of newly incorporated company which is a subsidiary of a foreign company. They are recieving some money from the Holding Company before incorporation for certain preliminary expenses. And they are refunding that money after some months to their Holding Company. So whether they falls within the ambit of Section 269SS and Section 269SST
05 April 2012
Section 269SS and Section 269T prohibit accepting loans and repayment of loans in cash if the amount of loan exceeds Rs 20,000/-
So if the transactions have been carried out through cheques, then the above sections are NOT attracted.
So if the transactions have been carried out through cheques, then the above sections are NOT attracted.
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