269ss &t
This query is : Resolved
25 November 2014
There are two partnership firms namely A & B . Two common partners are there. Total Purchase by A is 5 Cr and B is 10 Cr during FY. Firm B has made payment to the creditors of firm A by RTGS.
Queries
1) Is above transaction shall attract provision of Sec 269.
2) Common partners drawn an amount of 3 cr from Firm A and invest the same in Firm B through partners current account.Is it required to be reported in form 3CD?
Queries
1) Is above transaction shall attract provision of Sec 269.
2) Common partners drawn an amount of 3 cr from Firm A and invest the same in Firm B through partners current account.Is it required to be reported in form 3CD?
26 November 2014
the words used are "otherwise then by account payee cheque" so it shall attarct penalty
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