Sec 64(viii)
This query is : Resolved
05 June 2012
In an individual gives loan to a company in which he has a substantial interest & the companyinvests the same & earns interest on that money. Will the interest earned by the company be added to the income of the individual.
05 June 2012
If the loan is for "otherwise than for adequate consideration", then sec 64 per se is invoked. It will be very unfortunate to assume that there is a direct NEXUS between the 2 transactions you mentioned.
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
- Registry of flat in 3 names
- Taxability with reference to DTAA
- TDS on payment of Event fees to foreign Party
- TDS on Bank charges to company
- Capital Gain on sale of Listed Equity Shares
- PF Withdrawal Reporting in ITR
- Regarding TDS 194Q w.e.f 1 April 2025
- TDS Rent 94I
- STCG on equity shares/ETF-sundeep
- Forms to be file after INC 20A
- Coparcener loan to HUF
- Rectification rejection by CPC
- Delayed payment of GST on RCM basis renting of property
- Recovery of gst
- 264 Petition
- DIR 12 for appointment and resignation
- Invoice raised in March and Stock Received In April which date important
- Outside doctors fee in P&l Account
- Capital gain on share swap
- Regarding TDS return 27Q (NRI Property TDS)
Trending Online Classes
CAclubindia
