Cash transfer by a firm to its sister concern
This query is : Resolved
19 September 2010
Is there any restriction for transfering cash from a Partnership firm to its sister concerns, is there any disallownace in act
19 September 2010
No as it will attract either section 40A(3) or section 269SS & 269T.
19 September 2010
But if interest bearing funds are lent to sister concerns free of interest, proportionate interest will be disallowed in the hands of lending firm.
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