For how long is the application money retained by any company, if such company is Unlisted Public Company?
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Allotment of Shares
Replies (3)
There is as such no time limit for retaining of application money by the Company.
The company can make allotment at any time but keeping of share application money for a long time may cause the Income Tax Department to raise queries during assessment.
Thanx Mithali ji!
My pleasure! By the way my name spells as "Mitali"!
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