WebbAllotment of Shares/ Securities Issuer company allows its securities in a span of 60 days from the date of receiving the application money for such securities and if the company is not able to allot securities within the given time, it has to refund the application money to the subscribers within 15 days after the completion of sixty days. Webb22 mars 2024 · Provisions relating to deposits along with the Companies (Acceptance of deposit) Rules,2014 are given below : As per section 2(31),’ Deposits’ includes any receipt of money by way of deposits or loan or in any other form by a company but does not include such categories of amount as may be prescribed in consultation with the RBI. …
Companies (Acceptance of Deposits) Rules, 2014
WebbShare application money constitutes capital asset The Mumbai Bench of Income-tax Appellate Tribunal gave its decision that share application money constitutes capital … WebbShare application money was nothing but mere advances till the time the shares were allotted and share application money converted into share capital. ─ The ratio of the cited decisions was applicable to the facts of the case under consideration. Accordingly, the ITAT held that, share application money as transferred by the taxpayer constituted a poncho chihuahuah snow
Share application money in excess of authorized capital-Notice …
WebbAns:-In respect of instruments executed to pay amount annually or periodically , stamp duty is to be paid as follows depending on the circumstances.Where the sum payable during the period is previously ascertained , stamp duty is to be paid on whole of the amount. Where the sum payable is in perpetuity or for an indefinite time not terminable with any life, … Webb14 feb. 2024 · It is quite common where an entity provides some amounts as Share Application Money for the sake of allotment of such shares in future. The amount in substance will be advance given for such investment and the entity is waiting for the … Webb29 mars 2024 · Later, the AO issued a notice of reassessment, u/s 148 of the Act. The “reasons to believe” stated that on the basis of material available, it was clear that the transactions with respect to said share application money was not genuine and thus was a basis of reason-for formation of belief that the income had escaped assessment. shantae princess