Cash transfer to branch office
This query is : Resolved
Tanuj garg
(Querist)
23 August 2013
sir i want to know can a patnreship firm or head office tranfre cash to his branch excess of Rs 20000/-???.....plz update me a detail information about the powers of head office & limitaion of it.
CMA Ramesh Krishnan
(Expert)
23 August 2013
it is internal cash transfer. can be done based on firm policy
Tanuj garg
(Querist)
29 August 2013
thanks for reply....but sir is it right in the eyes of income tax.......
CMA Ramesh Krishnan
(Expert)
29 August 2013
Yes. only expenses paid above Rs.20000 only attract sec.40A(3). This is cash to cash transfer between one place to one place with in business, so no problem
Tanuj garg
(Querist)
04 September 2013
okk sir if the transfer is between sister concern (outside the bussiness)then ??
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