Inter co loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2013
Hello,
Can loan receivable from sister concern be set off against by showing purchases made from sister concern.
or is there any treatment for setting of Inter co/ Sister concern loan.
Can loan receivable from sister concern be set off against by showing purchases made from sister concern.
or is there any treatment for setting of Inter co/ Sister concern loan.
20 February 2013
It can be set off against purchase. Please make sure that proper documentation is in place. Also while making loan transactions please take care that you do not fall within the purview of Sec 2(22)(e) i.e., Deemed Dividend.
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