Share Application money

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Chartered Accountant
504 Points Posted on 01 July 2011

Share application money can be received in cash, is there any tax implication, please clarify.

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On 01 July 2011 at 17:38 Report
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You can receive. But make sure you are able to prove all transactions in case of assessment of company.

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On 01 July 2011 at 22:21
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Practicing CA
690 Points Posted on 01 July 2011

Share Application money can be received in cash also. There is not any bar on receiving share application money in cash. However the company must have the valid identity proof of the share holders.

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On 01 July 2011 at 23:35
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Chartered Accountant
504 Points Posted on 02 July 2011

Thankyou all..........

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On 02 July 2011 at 14:59

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