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Transfer entry of fund

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(Querist)
06 September 2012 dear sir

please fuie me regarding transfer entry of funds

there are Rs.500000 deposit in name of X in Pvt.ltd co &holder and Rs.300000 deposit in the name of Y. can Y's deposit to be transferd in X by passing J V entry ?
it is correct ?
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CA VISHNU GAVKARE

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CA VISHNU GAVKARE (Expert)
08 September 2012 no as both are different Entities.
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Pankaj Kothari

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Pankaj Kothari (Expert)
08 September 2012 Yes, but income tax act will come to barigate such hawala entry
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