Loan to partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2011
my client, a Private Ltd Co. wants to give a loan of Rs. 1 Crore to a partnership firm
The Directors of the Company are also partners in the said partnership firm
Pl inform whether any breach of Income Tax Law?
The Directors of the Company are also partners in the said partnership firm
Pl inform whether any breach of Income Tax Law?
09 September 2011
No breach of Income Tax law. But, i think Sec. 2(22)(e) applies
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