Provision of sec 269ss & 269t
This query is : Resolved
20 February 2013
The following transactions took place between A& B:
A made some cash expenses on behalf of B (e.g. Rs.100000/-). Now B treats it as a loan received from A and repays the amount on a later date through an account payee cheque. Is there any violation of Sec 269SS & 269T?
A made some cash expenses on behalf of B (e.g. Rs.100000/-). Now B treats it as a loan received from A and repays the amount on a later date through an account payee cheque. Is there any violation of Sec 269SS & 269T?
22 February 2013
Yes, B cannot treat this as loan which will attract 269SS. Advisable to treat the same as liability.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- TDS _Long term Capital Gain ref.sec 214 Table 2
- ITR-3 File/Error Found
- Taxability of credit in canara bank ET & T section (NRO)
- TAX AUDIT QUESTION
- Reporting in TDS return
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
