Cash infusion by Director in a Pvt Ltd co
This query is : Resolved
02 June 2011
Is there any limit or any provision/procedure subject to which cash can be infused by a director in a private limited company??
02 June 2011
I guess NO!!
However their relative can give share application money in cash.
But this is very risky affair as IT deparment can verify the soucrce of such infusion and 5 out of ten time such infusion is added in the income of the assessee.
However their relative can give share application money in cash.
But this is very risky affair as IT deparment can verify the soucrce of such infusion and 5 out of ten time such infusion is added in the income of the assessee.
02 June 2011
Why would IT add it in the income of the assessee? Is it because of the sec 68/69?
02 June 2011
Yaa read with section 269S and 269T
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
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
