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Without consideration amount paid

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(Querist)
22 June 2018 WITHOUT CONSIDERATION ONE COMPANY PAID AN AMOUNT TO
ANOTHER SISTER COMPANY.

IS CONTRAVENTION OF INCOME TAX LAW

IF YES , WHICH SECTION.


PL. THIS MATTER IS MOST URGENT
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 June 2018 if it is without consideration, it needs to be classified as a loan. as long as the transaction is done at arm's length and properly accounted for, you wont face any issue.

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