Individual & huf deposit
This query is : Resolved
Riddhi Bhuva
(Querist)
23 November 2011
individual can give deposit to HUF?? And HUf can give Deposite to Individual??
23 November 2011
Section 58A of the companies act, 1956 prohibited acceptance of deposit unless certain conditions would satisfied. HUF can accept deposit from faimly members only not from other persons outside the faimly. Individual being members of the HUF are free to give deposit.
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