It seems that a producer company needs to have 5 lakhs as its minimum authorized capital, though the Act offers privileges of a private company. can the paid up capital be 1 lakh?
What would be the taxability of patronage bonus in the hands of members?
Can the company have members and active members? If yes, can it reserve the voting rights only to active members?
In my opinion
there is no restriction regarding minimum paid up capital for producer company.
Yes, there can be both active members & members.
Producer co. can restrict its voting rights to active members if authorised by articles.
Refer this, may be helpfull -
https://www.asaindia.org/PDFs/MPC_I.pdf
Not sure about tax treatment
CCI
Pro
CAclubindia
