PGBP
This query is : Resolved
11 September 2010
whether cash payment exceeding Rs.20000 can be made by a company to another company as interest free loan.
will this payment covered under the section 40(1) for disallowance of payment exceeding Rs.20000
will this payment covered under the section 40(1) for disallowance of payment exceeding Rs.20000
11 September 2010
no problem is making interest free load exceeding Rs. 20000 u/s 40A(3), as it is not a expenses so no question of dis allowability arises but take care of section 2(22)(e) deemed dividend
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