Unsecured loan- v v v urgent

This query is : Resolved

Archana (Querist)
Follow

09 May 2012 A public ltd (unlisted) is media company and runs a local channel on tv. It wants to invite local public by advertising on its channel that any1 who wishes to become a member can deposit amount in the 3 forms(schemes) : Rs. 100/Rs.500/ Rs. 1000...Can it do so??? will it attract sec 58A u/s comp act, 1956

Guest

Guest (Expert)

09 May 2012 What kind of scheme the company is offering? Does it relate to its services being offered. If this is the case then it will not attract 58A.

If the amount to be received by the company is purely deposit and nothing to do with the services then it has to comply with the provisions of 58A

Archana

Archana (Querist)
Follow

09 May 2012 company is not offering anything in return...pls specify in detail what compliance is needed u/s58A

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R M Shekhaliya

Amit Goyal

SHRI HARIRAO

Frank

Pushkar Nagda

Subscribe Now

Unsecured loan- v v v urgent

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANT

CA Final

GST CONSULTANCY

Accountant

Senior Executive