Subscription of moa

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Rajnish

Rajnish (Querist)
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20 December 2017 Can a subscriber of MOA gives his subscription in cash? if yes please refer the relevant sec/rule.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 December 2017 There is no prohibition in the Companies Act, 2013 for receiving the subscription
money in cash. However, the Company and / subscriber(s) has/have to comply
with the provisions of the Income Tax Act , 1961 with regard to cash payments
/receipts.transaction.