section 187C meaning and applicability.
This query is : Resolved
21 August 2010
can anyone tell me when does section 187C become applicable? And what does the term 'nature of beneficial interest' imply in the declaration to be made under section 187C(1)??
24 August 2010
187C is applicable when shares are held by individuals for the benefit of other party.
For instance: directors of a Company holding shares for the COmpany or like nominee sirector holding shares on behalf of Bank or the institutions.
Nature of Interest implies the extent of interest like only in dividend sharing or entirely shares held by such Member.
The declaration is to be made by person holding shares in Form I while the person in whose benefits shares are held need to file declaation in Form II to COmpany within 30 days of becoming beneficially interested.
Format of same you will get from Rules " Companies(Declaration of beneficial Interst in Shares) Rule 1973.
For instance: directors of a Company holding shares for the COmpany or like nominee sirector holding shares on behalf of Bank or the institutions.
Nature of Interest implies the extent of interest like only in dividend sharing or entirely shares held by such Member.
The declaration is to be made by person holding shares in Form I while the person in whose benefits shares are held need to file declaation in Form II to COmpany within 30 days of becoming beneficially interested.
Format of same you will get from Rules " Companies(Declaration of beneficial Interst in Shares) Rule 1973.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
