Official liquidator payments into public account: remit receipts promptly to Reserve Bank, with limited deferment for small sums. Moneys received by an official liquidator required to be paid into the public account of India must be paid into the Reserve Bank to the credit of the Official Liquidator's Account under the specified departmental deposit head; amounts payable to the Deposit Insurance Corporation must be paid to that Corporation as required. All moneys realised by the official liquidator each day shall, without deduction, be paid into that account not later than the next working day, although remittances to the Reserve Bank may be deferred until the realised amount exceeds the small-value consolidation threshold.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Official liquidator payments into public account: remit receipts promptly to Reserve Bank, with limited deferment for small sums.
Moneys received by an official liquidator required to be paid into the public account of India must be paid into the Reserve Bank to the credit of the Official Liquidator's Account under the specified departmental deposit head; amounts payable to the Deposit Insurance Corporation must be paid to that Corporation as required. All moneys realised by the official liquidator each day shall, without deduction, be paid into that account not later than the next working day, although remittances to the Reserve Bank may be deferred until the realised amount exceeds the small-value consolidation threshold.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
