what is the procedure to transfer the shares in demat account in case of prop. firm which is alloted by private company . and please tell me if in the share certificate the firm name is written whether the prop. of the firm can transfer these shares in his demat account. and how these share are sold. ??? thanks in advancewhat is the procedure to transfer the shares in demat account in case of prop. firm which is alloted by private company . and please tell me if in the share certificate the firm name is written whether the prop. of the firm can transfer these shares in his demat account. and how these share are sold. ??? thanks in advance
Menu
shares
Replies (1)
Dear Kundan
Section 41(2) provides that only a person can be a member of the company who has agreed in writing to become a member and whose name is entered in the Register of Members.
As per Department's Circular No. 4/72, dated 9-2-1972, it has been clarified that "a firm" not being person, can not be registered as a member of a company.
So please check the earlier allotment to the propritership from your end and then transfer of shares to any one otherwise allotment and transfer will be nulll and void.
Regards
Ajay
Recent Topics :
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
Related Topics :
CAclubindia
