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accepttance of money
can company accept cash after incorporation in cash instead of cheque?
Replies (3)
If we see from Income tax angle then,
As per Section 269SS-
No person shall take or accept from any other person, any loan or deposit or any specified sum, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account.
As per Section 2(31) person includes a Company.
Yes from income tax point of view Rakesh ji is roght
for which purpose cash required?
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