What is the tax implication under Income Tax Act, 1961 while winding up a company, if the unsecured loan from directors is set off with accumulated losses and by transferring fixed assets? Is it allowed as per Companies Act, 2013?
1 Replies
NAVEEN GARG
(CA-FINAL)
(104 Points)
Replied 06 June 2019
Need to look at full Balance Sheet, as there is specific series defined by Companies Act for paying off to all stakeholders when Winding up a company
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
