Share application money
This query is : Resolved
05 July 2013
Whether the Pvt Ltd Company can receive the Share application money by CASH
Rupesh Jain
(Expert)
05 July 2013
it is not ban but due to safe side recd by cheque & dd
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05 July 2013
Courts have taken divergent views with respect to section 269SS of the Income tax Act,1961. So better accept by a/c payee cheque and that will take care of the provisions of Companies Act,1956 and Income tax Act,1961.
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