Immovable property to be attracted in 295
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2013
Dear All
please guide
a construction company constructing flats and selling it. will it be considered as goods and will it attract sec 295
please guide
a construction company constructing flats and selling it. will it be considered as goods and will it attract sec 295
15 October 2013
If given on credit to a director section 295 attracts, though the transaction may look like ordinary trade dealings, they will be loans ,if the intention is to give accommodation in that manner.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2013
Thanks Sir
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