Tds on loans and advances

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TARIQUE RIZVI (Querist)
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31 May 2019 A private limited company has been regularly giving loans and advances to some other private limited company for purchasing plant and machinery but the company has used that much sum to meet out the factory expenses instead of purchasing plant & machinery, On such transactions what will be the action of income tax department and ROC.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2019 No action will be taken by Income tax dept and ROC if accounting is properly done based on utilization.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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03 June 2019 Thanks with kindest regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 June 2019 Welcome...........................

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