Disallowance in income tax

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....isallowance in income tax<br> Query (Issue) Started By: - madhavvan Dated:- 28-4-2009 Last Reply Date:- 29-4-2009 Income Tax<br>Got 1 Reply<br>Income Tax<br>if an individual makes some capital purchas....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....es and expenditure thru its sister concern which is also individual is there any disallowance in income tax ( both are subject to tax audit) the amounts are credited and debited to the sister concerns....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... account and shown as balance receivable/ payable Reply By Ravi Chopra: The Reply: In case of purchase through sister concern, you need to read the provisions of Section 40A(1) thoroughly. Otherwise....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., if the transaction is on one to one basis and at arm's length, it appears there is no difficulty. But in certain situations you may be required to disclosed the facts in the forms or statements, as ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and when required to desired.<br> Discussion Forum - Knowledge Sharing ....