Cash transfer or not
This query is : Resolved
14 July 2013
Dear All,
Can Sole proprietor cash amount Rs. 25 lac transfer to one sole concern to another sole proprietor concern.
in this case sec. 40(a ) 3 apply or not.
Can Sole proprietor cash amount Rs. 25 lac transfer to one sole concern to another sole proprietor concern.
in this case sec. 40(a ) 3 apply or not.
14 July 2013
40A(3) is not applicable.
.
If you are the proprietor of both the concern , it can be transferred.
.
Not only you, if any Proprietor having two concerns, X & Y, he can freely transfer funds from X to Y or Y to X.
.
.
If you are the proprietor of both the concern , it can be transferred.
.
Not only you, if any Proprietor having two concerns, X & Y, he can freely transfer funds from X to Y or Y to X.
.
14 July 2013
Please beware with section 269SS & 269T
These transactions may pose penalties
Please beware with section 269SS & 269T
These transactions may pose penalties
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