Dear Members,
My query is as under. A is a partnership firm. It has taken agency from Company B. It is Required to pay deposit of Rs. 5 Lakhs to Company B by partnership firm A for agency. C a third party taking a demand draft in favor of Company B from bank by depositing cash of Rs. 5 lakhs and this draft given to partnership firm A. Firm A send this draft to company B. In the books of partnership firm A Deposit to Company B debited and account of C is credited. My question is the amount of draft received from C third party will be treated as Loan or currunt liabilities / creditor. If it is treated as loan than provision of Section 269SS is applicable or not ? Thanks and regards CA Jaysukh T.Mehta Bhuj Kutch Gujarat --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
