Tds on loans and advances
This query is : Resolved
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.
01 June 2019
No action will be taken by Income tax dept and ROC if accounting is properly done based on utilization.
03 June 2019
Thanks with kindest regards
03 June 2019
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