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.
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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