Section 184(2) , 188 and 189
This query is : Resolved
23 July 2016
Hi,
Section 189 applies to transactions covered u/s 184(2) and / or 188.. If a transaction falls under 184(2) but is exempt from the wider section 188 can we claim / say 189 doesn't applies since section 188 being much wider and 188 and 189 both are for RPT whereas 184 is regarding disclosure of interest. Please guide.
Eg : Purchase and Sales between companies with common directors and / shareholders --- Section 184(2) applies
However exemption u/s 188 since the transactions are done in the ordinary course of business and also at arms length price.
Thus whether such transactions would be required to be entered in register u/s 189.
Section 189 applies to transactions covered u/s 184(2) and / or 188.. If a transaction falls under 184(2) but is exempt from the wider section 188 can we claim / say 189 doesn't applies since section 188 being much wider and 188 and 189 both are for RPT whereas 184 is regarding disclosure of interest. Please guide.
Eg : Purchase and Sales between companies with common directors and / shareholders --- Section 184(2) applies
However exemption u/s 188 since the transactions are done in the ordinary course of business and also at arms length price.
Thus whether such transactions would be required to be entered in register u/s 189.
23 July 2016
Yes, such transactions are also required to be entered into Register.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
