Whether tax liability arise if fund transfer from business
This query is : Resolved
07 November 2011
whether tax liability arise if firstly money was borrowed from outsider for business purpose and than after mixed(owner fund as well as borrowers fund ) fund transfer to personal a/c.outsider charge interest on their outstanding balance but no interest charge on fund transfer to personal a/c.please give your answer with supporting case (in favour or agianst)
07 November 2011
INTT PAID TO OS WILL B DISALLOWED BECAUSE BORROWED FUNDS ARE NOT USED FOR BUSINESS PURPOSES
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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