Sec 186
Akhilesh Somani (CREDIT MANAGER) (98 Points)
13 April 2016
Inter corpoarte Deposit (ICD ) is covered as inverstment , meaning of sec 186
5 Replies
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 13 April 2016
It will be covered under section 186 but not as Investment but as Loan.
Akhilesh Somani
(CREDIT MANAGER)
(98 Points)
Replied 13 April 2016
thank you for reply , please confirm that if a company is investing as ICD to a company , i.e. loan given to a company , is it right ?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 13 April 2016
Yes, it will be shown under Short / Long term Loans in assets side.
Akhilesh Somani
(CREDIT MANAGER)
(98 Points)
Replied 13 April 2016
Thanks, so ICD investment covered under sec 186 and icd investment should under limit which is precribed u/s 186 , is it right ?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 14 April 2016
Exactly.....
Recent Topics
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
Related Threads
CAclubindia
