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AIR

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2010 Whether limit of Rs 1,00,000 in case of AIR is for the particular transaction or for series of transaction during the year??
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CA. BHAVIK DILIPBHAI MEHTA

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CA. BHAVIK DILIPBHAI MEHTA (Expert)
28 November 2010 Receipt from any person of an amount of one lakh rupees or more for acquiring shares issued by the Company is required to be disclosed as per Rule 114E of the Income Tax Rules,1962.Hence if you are making application to a particular company for acquiring shares for an amount of Rs. 1 lacs or more then the same needs to be disclosed in AIR.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2010 What in case purchase from Stock Exchange???
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CA. BHAVIK DILIPBHAI MEHTA

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CA. BHAVIK DILIPBHAI MEHTA (Expert)
28 November 2010 Applicable only when the company is issuing shares through public or rights issue.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2010 If the 1 lakh amount is applied amount towards IPO or allotment amount
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