Section 372A

Final 735 views 2 replies

Guest

hi,

can anyone tell me if section 372A is applicable to investments made in a partnership firm ? as in, if on the assets side of the balance sheet of a company, it says capital in Z&Co. where z&co. is a partnership firm, does it mean that we have to include such capital while calculating the ceiling limit for the purpose of section 372A regarding intercorporate loans and investments.

Replies (2)

V.SHIVASHANKAR

Chartered Accountant

168 Points Joined October 2007

hai,

if you give a clear reading of sec 327A, the investment in the partnership firm is not covered even the same is shown as investment in the balance sheet.