Dear All,
We (LLP) are into agriculture and aquaculture. We take investment from friends of partners and use those funds mostly for paying off office exp and repayment of unsecured loan taken earlier.
Do we fall under Unregulated Deposit Scheme?
Menu
Banning of deposit
Replies (1)
Friends are not covered under Relatives, but even then you are not in financial business and as such will not be covered under the act. But still clarification about the same is awaited from authority.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
