ALLOTMENT OF SHARES IN CASH FOR VALUE EXCEEDING RS.20000
This query is : Resolved
Guest
Guest
(Querist)
08 June 2009
Will there be any impact due to the company received cash Rs.100000/- for allotment of shares ? Thanks for your response.
08 June 2009
Hello Sir,
As you are paying cash towards allotment of shares. This is in the nature of investment.
So there will be no impact as far as payment in cash exceeding Rs. 20000 (Expenditure disallowed) rule of tax is concerned.
Regards
As you are paying cash towards allotment of shares. This is in the nature of investment.
So there will be no impact as far as payment in cash exceeding Rs. 20000 (Expenditure disallowed) rule of tax is concerned.
Regards
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