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Cash infusion by Director in a Pvt Ltd co

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(Querist)
02 June 2011 Is there any limit or any provision/procedure subject to which cash can be infused by a director in a private limited company??
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Ca Aashish Upadhyay

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Ca Aashish Upadhyay (Expert)
02 June 2011 I guess NO!!

However their relative can give share application money in cash.

But this is very risky affair as IT deparment can verify the soucrce of such infusion and 5 out of ten time such infusion is added in the income of the assessee.
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sanath

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sanath (Querist)
02 June 2011 Why would IT add it in the income of the assessee? Is it because of the sec 68/69?



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Ca Aashish Upadhyay

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Ca Aashish Upadhyay (Expert)
02 June 2011 Yaa read with section 269S and 269T

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