Section 192 of Companies Act 2013
This query is : Resolved
20 January 2017
Please explain the meaning of "non-cash transactions" in Section 192 of Companies Act 2013 with some examples.
21 January 2017
AS PER SECTION 192 OF THE COMPANIES ACT 2013, A DIRECTOR OF THE COMPANY , ITS HOLDING COMPANY , SUBSIDIARY COMPANY OR ASSOCIATE COMPANY WHO AQUIRES THE ASSETS FROM COMPANY FOR CONSIDERATION OTHER THAN CASH , THEN PRIOR APPROVAL OF SHAREHOLDER IN GENERAL MEETING IS REQUIRED OR VICA VERSA AND IF SUCH DIRECTOR IS ALSO THE COMMON DIRECTOR OF HOLDING COMPANY , THEN RESOLUTION APPROVAL WILL LSO BE REQUIRED BY PASSING THE RESOLUTIONBY HOLDING COMPANY
21 January 2017
Thanks for replying but my query is : What is the meaning of "non-cash transactions"? Please explain with examples.
22 January 2017
non - cash means you are using instruments like Cheque, DD, NEFT, RTGS, IMPS for enter into transaction
22 January 2017
@ c.bakshi - thanks for replying but I don't think it's the right interpretation. You're saying that a director making payment by cheque will need shareholders' approval but he'll not need it when he is making payment in "cash".
23 January 2017
not at all. i am just saying what the term non - cash transactions means, you ask it examples. Moreover, Mr. Jatin bajaj ji cleared it to you. see technically, income tax act, 1961 is not allowing the director to enter into cash transaction for an amount exceeding 20000 with the company. and as per Companies Act, 2013 if some body which includes company also, acquire some assets for consideration other than cash, then it should be in the knowledge of the shareholders, thats why resolution is required
Message likes :
1 times
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST not cancelled by tenant
- Filling ITR - U
- TDS ON EMAIL DOMAIN SERVICE BILL
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FORM 141 SDV query
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
