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Individual & huf deposit

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(Querist)
23 November 2011 individual can give deposit to HUF?? And HUf can give Deposite to Individual??
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
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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