Section 269ss

This query is : Resolved

kunal (Querist)
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16 November 2013 SALARY OF DIRECTOR OF A COMPANY. 75,000 P.M.

RS. 75,000 MARCH SALARY PAYABLE AS ON 31-03-2013

IF WE TRANSFER THE ABOVE PAYABLE AMOUNT IN UNSECURED LOAN ACCOUNT, IS THERE ANY VIOLATION OF SECTION 269SS? (CREATING UNSECURED LOAN BY JOURNAL ENTRY)

Prashanth

Prashanth (Expert)
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17 November 2013 Hi Kunal,

Refer the below link,where it is mentioned sec-269ss does not applicable in case of transactions taken place by passing journal entries.

http://taxguru.in/income-tax/section-269ss-269t-income-tax-act1961.html

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kunal

kunal (Querist)
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18 November 2013 thank you sir!

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