tax audit report

This query is : Resolved

Raj k (Querist)
Follow

07 September 2010 if loan taken by pvt.company from its directors reletive and same is partly repay. wether it need to shown in 40a2b in tax audit report.interest on same is credited to loan amt. that interest is also requred to disclosed.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

07 September 2010 If interest is not paid then also 40A(2)(b) attracts since provision is made in the accounts. Tax auditor has to consider the transaction while dealing with form 3CD.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now