section 297 & 299
This query is : Resolved
30 April 2011
Mr. A is a director of Co. ABC pvt. Ltd. and a Director/member in XYZ Co. pvt. Ltd., holding of Mr. A in XYZ is less than 2% , now if there is any contract(purchase / sale) between ABC pvt. Ltd & XYZ Co. pvt. Ltd, for will it attract provision of section 297 inspite of fact that Mr. A whose holding is below 2% in XYZ Co. pvt. Ltd.
Reply.
Reply.
02 May 2011
sec. 297 attract on this case inspite of the shareholding is less than 2%..... a Board approval require for the said transaction ( if paidup capital is more than Rs. 1 crore than Approval of Central govt also require)
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- CREDIT NOTES WITHOUT GST
- FORM 141 SDV query
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
