Sec 40a(3)
This query is : Resolved
12 August 2011
Dear Expert,
Partner introduced cash of rs 500000/- in the business as capital contribution.
is it allowed or will attract 269SS.
Plz guide
Partner introduced cash of rs 500000/- in the business as capital contribution.
is it allowed or will attract 269SS.
Plz guide
CA Ashwani Agarwal
(Expert)
12 August 2011
269SS talks only about loan or deposit.
It does not talks about capital contribution, so it will not be covered in 269SS.
But if the AO wants then he can still ask the partner to show the source of these 5 lakhs.
It does not talks about capital contribution, so it will not be covered in 269SS.
But if the AO wants then he can still ask the partner to show the source of these 5 lakhs.
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
- EPF ECR NEW FILE SEP 17TH 2026
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Capitalgain tax purposes for valuation report compulsory
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
