Transactions apart from sale and purchase
This query is : Resolved
07 June 2023
Hello All,
Our company which is a proprietorship, to close the business is selling its stock to the newly formed pvt. ltd co. ( the proprietor is the director of the new co ) also money is being transferred to the newly co. to meet its expenses. How it should be shown in the books of the new co.
Is it valid in the law of income tax to do so ...., if not then what are the consequences.
please can anyone help me
Our company which is a proprietorship, to close the business is selling its stock to the newly formed pvt. ltd co. ( the proprietor is the director of the new co ) also money is being transferred to the newly co. to meet its expenses. How it should be shown in the books of the new co.
Is it valid in the law of income tax to do so ...., if not then what are the consequences.
please can anyone help me
18 June 2023
Consider it under unsecured loan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
