Without consideration amount paid
This query is : Resolved
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
ANOTHER SISTER COMPANY.
IS CONTRAVENTION OF INCOME TAX LAW
IF YES , WHICH SECTION.
PL. THIS MATTER IS MOST URGENT
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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