Cash deposit between sister concern
This query is : Resolved
26 June 2013
We have 3 sister concerns, abc, 123, xyz.we have an account for the third sister concern xyz. We generate cash income from abc, and 123 and we deposit this cash in xyz account.
Is this permissible
Is this permissible
CA PARAS BAFNA
(Expert)
30 June 2013
If the proprietor is the same , it is permissible.
.
In case proprietors are two or three different persons it is not permissible.
.
.
In case proprietors are two or three different persons it is not permissible.
.
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