Purchase of share in cash
This query is : Resolved
Quick Summary
23 July 2022
Is there any restriction on purchase of shares of private limited company in cash.
23 July 2022
Cash payment should not exceed 2 lacs as per section 269ST of income tax Act.
23 July 2022
Its ok. This restriction only for receiving 2 lakh above in a single day. I want to know that, is there any provision in the act regarding receiving of share application money by bank transfer only.
23 July 2022
No restriction on case of bank transfer.
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