AIR for issue of shares
This query is : Resolved
24 August 2016
Hlo all, whether AIR required to be filed for shares issued to non resident more than rs. 100000.00
25 August 2016
As per Rule 114E of the Act, receipt from any person of an amount aggregating to 10 lakh rupees or more in a FY for acquiring shares including share application money needs to be reported by the company issuing the shares. There is no distinction made between receipt from a resident or non-resident. The only criteria is the value of share issue need to be more than 10 lakh ruppes
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