Cash received from sister concern
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2011
DEAR EXPERT,
We have three partnership firms managed by same partners, which are engaged in construction activities.
Frequently we borrow cash from sister concern and after some days we pay it in cash exceeding Rs 20000/-.
Will it cover u/s 269SS & 269T?
If not any other section which we should take care of?
We have three partnership firms managed by same partners, which are engaged in construction activities.
Frequently we borrow cash from sister concern and after some days we pay it in cash exceeding Rs 20000/-.
Will it cover u/s 269SS & 269T?
If not any other section which we should take care of?
24 August 2011
Every firm is a different person. Attracts 269T as well as 269SS.
Convert all cash transactions through partner's capital accounts in the respective firms.
Convert all cash transactions through partner's capital accounts in the respective firms.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
