QuestionsCategory: Co.Audit - IIIndebtedness includes credit Purchase but Business relationship not allowed
Yash agarwal asked 4 years ago

Sir, as per the co act- CA or its partners cannot have Business relationships ( like procurement of goods and services from company and others). So does the Indebtedness clause (<500000) in form of Credit Purchase only related to the H2AT (hotel, hospital,etc) vala part or any other transactions are also covered?

1 Answers
RaviRavi Staff answered 4 years ago

Indebted can come because of personal nature transactions also like buying goods and services for personal consumption.