Capital investment in firm by way of cash
D.Srinivasulu (B.SC) (202 Points)
24 April 2021I am one of the partner in firm, what is the limit to invest capital by way of cash in firm daily.
D.Srinivasulu (B.SC) (202 Points)
24 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 24 April 2021
Prathyusha Varma
(ArticleShip)
(393 Points)
Replied 24 April 2021
D.Srinivasulu
(B.SC)
(202 Points)
Replied 24 April 2021
Prathyusha Varma
(ArticleShip)
(393 Points)
Replied 24 April 2021
D.Srinivasulu
(B.SC)
(202 Points)
Replied 24 April 2021
Prathyusha Varma
(ArticleShip)
(393 Points)
Replied 24 April 2021
Srinivas Garu, that is different. 200000 is for cash receipts. Please refer sec 269ST for more info.
Cash payments section 40A(3).
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 24 April 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 24 April 2021
Originally posted by : D.Srinivasulu | ||
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hai gd mng to all, I am one of the partner in firm, what is the limit to invest capital by way of cash in firm daily. | ![]() |
There is no such limit as far as capital contribution to the firm is concerned if the source of income is clear. Restriction on cash receipts (2 lacs limit) and on cash payments (10K limit) is not applicable in case of capital contribution to the firm.
SUSHANT BIDAYE
(667 Points)
Replied 24 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 25 April 2021