Nbfc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2012
As per the RBI Act the company engaged in business of acquisition of shares/stock/bonds/debentures/securities issued by Government is treated as NBFC.
But Can a company engaged in business of trading in government securities with its own fund can be treated as NBFC?
Please advice.
But Can a company engaged in business of trading in government securities with its own fund can be treated as NBFC?
Please advice.
11 August 2012
Hi,
The investment in own fund cannot be treated as NBFC. The company invest the money as it deem fit and it comes under the head investment and it should not be the main activities of the company.
The investment in own fund cannot be treated as NBFC. The company invest the money as it deem fit and it comes under the head investment and it should not be the main activities of the company.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
