11 July 2020
A Transport Private Ltd Co.having all its trucks in the name of director, issues bills in its own name for the services provided to his party. Then, Party remits the payment after the deduction of tds.
Here, should the company issue any declaration for having the ownership of all trucks in the name of its directors to the service recipient like individual transporter?
guide me please.
thanks in adv
09 August 2020
I think this should come under related party transaction and needs to be disclosed at the time of audits..