27 April 2012
there is no limit. A company can receive any amount of share application money in cash.
The problem is on the part of person paying the cash. He should be in position to show the source. Also to be a safer side not advisable to pay cash in excess of Rs. 20,000/-
28 April 2012
thankz a lot sir. Is there any restriction for partly paid up shares.? I mean its upto Company whether they want to call whole full amount of shares or keep it party paid..?
CAclubindia
