Posted By : SARIKA
/ Published on :
16-Sep-2022 11:35 AM / View :
51 / Comments :
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).
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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.
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