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tax audit report

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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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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