what was the restriction on amount of political contribution u/s 182 co's act 2013
please help me
6 Replies
priya varshey
(Student CA Final )
(69 Points)
Replied 13 April 2018
There is no restriction on amout of contribution
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 14 April 2018
the restriction comes from the proviso to the section that limits the aggregate of the amount of contribution in any financial year to seven and a half per cent. of its average net profits during the three immediately preceding financial years:
priya varshey
(Student CA Final )
(69 Points)
Replied 14 April 2018
This restriction is removed by Finance Act please read MCA Circular regarding this amendment
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 14 April 2018
thanks for the update. Just saw the reference (https://www.mca.gov.in/Ministry/pdf/rajya_unstarred_ques_4344_11042017.pdf)
c jyothi
(Student CA IPC / IPCC)
(103 Points)
Replied 14 April 2018
Restrictions or only on condition to be followed not on amount of contribution
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