Share application money can be received in cash, is there any tax implication, please clarify.
3 Replies
CA Saiyum khan
(Practicing CA)
(690 Points)
Replied 01 July 2011
Share Application money can be received in cash also. There is not any bar on receiving share application money in cash. However the company must have the valid identity proof of the share holders.
CA Suraj Prasad Shaw
(Chartered Accountant)
(504 Points)
Replied 02 July 2011
Thankyou all..........
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