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sister concern dealings

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(Querist)
02 July 2009 How to account the transaction related with sisterconern under income tax ?
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
02 July 2009 Dear Mr Rajesh,

There is no separate accounting rules to account sister concern transaction.
You can account the transaciton in normal way. It is only at market price ie as the outsider transaction. There is no under/over laping of profit.
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Ratan Sharma

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Ratan Sharma (Expert)
02 July 2009 Agreed
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
02 July 2009 AGREED
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