Company has issued shares during the year for an amount equal to 10 lakhs to the parent company (9.9 lakhs) and 2 individuals (5k each). During the year the individuals have transferred the shares to the parent company. Now the parent company holds the shares of 10 lakhs.
Is this a reportable transaction as per Section 285BA read with rule 114E ?
SFT applicability for issue of shares
Replies (1)
Summary: Yes, your company is required to report this transaction in Form 61A if the total amount received from any single investor (such as the parent company) for share acquisition/application money aggregates to ₹10 lakh or more during the financial year.
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