23 December 2021
Hi, Dear Experts please help on can be do transections between two different companies where is same director/partners have share holdings. transections like -Payments on behalf of each other . - Sale-Purchase. -Payments of Govt dues etc. Kindly help & provide the section of Income tax if possible.
23 December 2021
yes , you can do and it is nothing but related party transaction and it required approval of board .This is covered under arm length under income tax act section is 92F(II).
CAclubindia
