TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Strict Financial Accountability: New Penalties for Companies Mishandling Deposits and Misleading Shareholders Under Section 76A</h1> The amendment introduces section 76A to the principal Act, establishing penalties for companies that improperly accept deposits or fail to repay deposits within specified timeframes. Companies face fines between one to ten crore rupees, while defaulting officers may receive imprisonment up to seven years or fines between twenty-five lakh to two crore rupees. Additional provisions exist for knowingly and willfully deceiving shareholders, depositors, or tax authorities, which can trigger more severe legal consequences under section 447.
TaxTMI 
TaxTMI 
