My professional friend, who is a tax audit assessee, utilized cash credit for working capital but omitted to include both the cash credit and debtors in the balance sheet. What would be the appropriate solution in this situation, considering the need to revise the tax audit report to reflect the cash credit as a liability and debtors as an asset?
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Can shares be issued for consideration other than cash to foreigners under FEMA?
Consideration would be advisory services.
There is no prohibition/restriction under the Companies Act, 2013 for receiving the subscription money in cash (i.e., not through account payee cheque or other banking channel).
However, the company and/or subscriber(s) has(ve) to comply with the provisions of the Income Tax Act, 1961 with regard to cash transaction.
subscription
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As per the first proviso of rule 6(1) of the Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer, and Refund)
Rules, 2016 where the beneficial owner has encashed any dividend
warrants during the last seven years, his or her shares are not liable
to be transferred to the fund.
In this case, if any shareholder encashes any dividend warrants after the expiry of said seven years, would his shares be liable to be transferred to IEPF or not?
after
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I have certain amount in my e-cash ledger, can I use this amount for the payment of tax on RCM basis?
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Hi members
Is it necessary for a partner to bring its contribution in the Limited Liability
Partnership in cash?
Regards!
Vidushi
cash
contribution
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Dear Professionals,
What are the rules & Provisions made under FEMA for FDI in Cash & Carry Wholesale trading business in India
Respected Members,
Can we allot shares for Consideration other than cash to existing shareholders through the right issue u/s 62(1)(a) route or we have to follow u/s 62(1)(c) preferential allotment?
Dear Members,
Can a private limited company issue shares for consideration other than cash to a director who is not a shareholder?
Will it be covered by preferential issue U/S 62(1) (c)?
Thank you!
Dear all,
Can we, at the time of incorporation, issue shares against any asset at the time of Incorporation ?
Hi everyone,
Can we issue shares for consideration other than cash on right basis?
Dear Members,
Can anybody provide me documents for issue of Sweat Equity Shares for consideration other than cash alongwith the check list
I will be grateful
