Sir
We are an partnership firm doing an construction business. Construction services done by the firm and land owned in the name of partners. My question is project finance taken in the name of firm and it was purely utilised for acquisition of land but we land purchase only in the name of partners. Here how we transfer this funds to partners? Can we give this fund in an advance basis to Partners in this situation any interest obligations arise? Need any JV agreement between them? Kindly advise asap.
Menu
Lending money to Partners
Replies (2)
Land also purchased in the name of the firm. Other wise partners need to tax on Capital gain (Income Tax)
Yes sir capital gain will come admitted but want to clarify other points
Recent Threads
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
- SAC code and GST rate transport services for anima
- Section 44AB is Gone — How Different is Tax
Related Threads
CAclubindia
