Please Help: Liabiity of tax.
Posted Date : 05-Jul-2012 , 12:20:10 pm | Posted By Vikash Kumar Jha
when a debtor transfer a debt to a creditor entity it control, then liabilities of tax will arise because of this event as per income tax Act.
Category : Income Tax | Answers : 3 | Comments : 2 | Hits : 180
Answers
Answer By: Krishna Chandra Santi
I think there is no income arises in the above case so no tax liability.
Answer By: Rambabu Senkarasetti
No tax will arise.
Answer By: Rambabu Senkarasetti
No tax will arise.
Comments
Krishna Chandra Santi
05-Jul-2012 , 12:59:34 pmMr vikas what u want to know, whether liabolity will arise or not or, treatment of such liability?
Krishna Chandra Santi
05-Jul-2012 , 01:00:58 pmPlease clarify your question, whether creditor is controlled ny the debtor entity or anything else?