Transection between to Companies eg Sale, Purchase, & on behalf Payments
This query is : Resolved
Pradeep Tiwari
(Querist)
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.
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.
B Sathyanarayanan
(Expert)
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).
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