Whether application money received by a public / private company in April will be covered as loan U/s. 269SS for Income Tax and if shares are not issued at close of books.
PANKAJ SHARMA
(ACCOUNTS MANAGER)
(79 Points)
Replied 04 September 2010
Yes application money received by a public / private company in April will be covered as loan U/s. 269SS for Income Tax and if shares are not issued at close of books.
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