Scetion 295
This query is : Resolved
24 February 2010
Loan given as per Section 295 to subsidiary. In this case, should the subsidiary be 100 % or partly subsidiary ?
24 February 2010
any subsidiary company
24 February 2010
Section 295 exempts loan given to subsidiary.
Thus it can be subsidiary which may not be 100%
Thus it can be subsidiary which may not be 100%
24 February 2010
If one company gives loan to its subsidiary then section 295 is not applicable. Section 295 deals with loan to director.
In your case section 372A is applicable as it is inter-corporate loan.
If the borrower subsidiary company is a wholly owned company then the above transaction is exempt from section 372A u/s 372A(8).
If this is not a wholly owned company then you have to comply with section 372A.
Regards
In your case section 372A is applicable as it is inter-corporate loan.
If the borrower subsidiary company is a wholly owned company then the above transaction is exempt from section 372A u/s 372A(8).
If this is not a wholly owned company then you have to comply with section 372A.
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
