Amt to sister concern
This query is : Resolved
Chandani Gadhia
(Querist)
25 February 2015
If some amt is provided to sister concern and after 5 months, same amount is returned by sister concern to parent company.
How the above transaction should be treated for accounts and income tax?
How the above transaction should be treated for accounts and income tax?
25 February 2015
should be ttreated as loan given and repaid,.
Rupesh Jain
(Expert)
25 February 2015
its will be loan transactin and if loan giver is taking loan from bank its interest will be disallowed to rs. loan amount given to sister concern.
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