nbfc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2009
what is the difference between nbfc and normal company???
07 December 2009
An NBFC is a company registered with the RBI with an NBFC. Non-Banking Finance Company is company registered with the RBI as such and is allowed to perform certain kind of activities.
A Company which satisfies the following two conditions can register itself as an NBFC:
1) 50% of its total income is derived out of financial activity.
2) 50% of its total assets are financial assets.
However, a company which is doing activities of an NBFC is also classified as an deemed NBFC, if it is not registered with RBI. Such a company would be liable for default under the RBI guidelines.
A Normal Company is any other company with carries out any other business activity.
A Company which satisfies the following two conditions can register itself as an NBFC:
1) 50% of its total income is derived out of financial activity.
2) 50% of its total assets are financial assets.
However, a company which is doing activities of an NBFC is also classified as an deemed NBFC, if it is not registered with RBI. Such a company would be liable for default under the RBI guidelines.
A Normal Company is any other company with carries out any other business activity.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Reporting in TDS return
- Loss of interest in PF transfer from EPFO to Trust
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Missed TDS
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
