Winding up NPO
bsai partish (166 Points)
28 March 2021
is it compulsory to credit to insolvency bankruptcy fund in case of any surplus of winding up of NPO
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 March 2021
In case of winding up if any surplus arises then in Insolvency and Bankruptcy fund you may deposit such amount
There shall be credited to the Fund the following amounts, namely—
(a) the grants made by the Central Government for the purposes of the Fund;
(b) the amount deposited by persons as contribution to the Fund;
(c) the amount received in the Fund from any other source; and
(d) the interest or other income received out of the investment made from the Fund.
There shall be credited to the Fund the following amounts, namely—
(a) the grants made by the Central Government for the purposes of the Fund;
(b) the amount deposited by persons as contribution to the Fund;
(c) the amount received in the Fund from any other source; and
(d) the interest or other income received out of the investment made from the Fund.
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