FOR A COMPANY, THERE IS A LIMIT ON ACCEPTING LOAN IN CASH IN EXCESS OF RS 20000.
THERE ARE 5 DIRECTORS IN A CO. CAN EACH DIRECTOR BRING IN CASH BELOW RS 20000.
WILL IT ATTRACT ANY PENALTY???? THANX IN ADV.
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Cash taken from directors
Replies (2)
NO. SEC 269SS WILL NOT ATTRACT.
No Penalty will attrace if received below 20 k from each director.
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