Acceptance of deposits from relatives of directors
This query is : Resolved
29 December 2015
MCA vide notification dated 15 September, 2015 has amended the Companies (Acceptance of Deposits) Rules 2014.
As per this notification, the acceptance of deposits from relatives of Directors has been exempted for Private Ltd. Companies. So what will be the consequences if the deposits from relatives of Directors have been accepted before 15 September, 2015?
As per this notification, the acceptance of deposits from relatives of Directors has been exempted for Private Ltd. Companies. So what will be the consequences if the deposits from relatives of Directors have been accepted before 15 September, 2015?
29 December 2015
Those deposits will still be considered as Violation of provisions of Companies Act 2013. Because this amendment can not have retrospective effect unless they specifically mention it.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Traces submitting correction statement error
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- LIABILITY ADJUSTMENT
- Grand in aid
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- TDS on property - Form 141 query
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
