Hi
I have Two Proprietor firms:
Firm A
Firm B
I have Credit limit in Firm A for running Business, But Now I am expanding Firm B Business, I need Immediate Funds for the Expansion.
The question is Can Firm A give unsecured loan to Firm B from CC limit?
Both are registered in my PAN number. Looking for CA Advice in this matter.
Bank said no for clubbing the credit limit
what do you mean by status?
Both firm belong to same proprietor but have different registered GST number. One firm is into sale business and one into service business.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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