Inter group loans

ravi (senior accountant) (507 Points)

04 December 2011  

a pvt co's MD is a partner in a firm

if this firm deposits some payments (unknown) (only for convenience between these two concerns) to this pvt co
pls suggest me best way to deal with these type of trns I mean should they be treated as loans? pls also suggest 

are intergroup loans accepted ?

Is it the best practice? whether tds comes here or can they be taken for interest free without tds ?

psl suggest me the auditors reporting obligations?