Hi,
A loss making company having accumulated losses paid a sum of Rs. 50 Lakhs to his wholly owned holding company. Can anybody tell what would be the accounting treatment for the same and its tax implications.
Regards
Rashi Goyal
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Accounting treatment
Replies (2)
Rashi sir,
what type of payment is it. is it repayment of loan or transfer of funds.
It is niether loan nor advance. It is a gift.
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