Section 297 applicability
This query is : Resolved
K.Govindarajan
(Querist)
27 May 2011
Our is a private Limited Company . We are purcahsing one of the raw material from our Group company which is public limited company .We are having one common director in both the companies and ultimate holding company is same for us .Now whether section 297 is applicable to our purchase from our group company . Is section 297 applicable to public limited company only not to private limited company .
udit sharma
(Expert)
27 May 2011
Hi....
From your Company's perspective, provisions of Section 297 will not be applicable.
However, from the other Party's perspective, which is a Public Limited Company, the provisions of section 297 will be applicable and must be complied with.
Section 297 is applicable to both Public and Private Limited Company in case of contracts between the specified parties.
God Bless
CS Udit Sharma
From your Company's perspective, provisions of Section 297 will not be applicable.
However, from the other Party's perspective, which is a Public Limited Company, the provisions of section 297 will be applicable and must be complied with.
Section 297 is applicable to both Public and Private Limited Company in case of contracts between the specified parties.
God Bless
CS Udit Sharma
Message likes :
1 times
K.Govindarajan
(Querist)
28 May 2011
Dear Expert
Thanks for the guidance . Can u please explain furhter on this subject for clarity
Thanks for the guidance . Can u please explain furhter on this subject for clarity
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
- EPF ECR NEW FILE SEP 17TH 2026
- GST on Renting godown to KFCSC for Storage of Raagi
- TDS on Fixed Assets purchased
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Import of Software Service.
- Capitalgain tax purposes for valuation report compulsory
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Oct 2025 Invoices
- Depreciation Chart Companies Act
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
