Sale to relative

Page no : 2

JAI BHOLA (504 Points)
Replied 21 May 2018

that's what I am saying ... kindly share the whole transaction , cause the nature of goods is important...

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H.R. Sreepada Bhagi (Practicing Cost Accountant) (50 Points)
Replied 04 June 2018

Dear All,

This is a related party transaction. See the provisions relating to disclosure of Related Parfty Transactions in Income Tax Act, 1961. There is no bar on making such transactions, but there will be tax implications. Transfer Pricing Analysis is done in case of Income Tax (Form 3CEB). Anything sold to a related person/party would not be at Arm's Length.