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Share Application money in cash

LAXMIKANT ARORA

CAN A SHARE APPLICATION MONEY RECEIVED IN CASH MORE THAN RS.20000/-

Receiving Share Application Money in Cash Over Rs. 20,000 Not a Loan or Deposit Under Sections 269SS/269T A query was raised regarding the legality of receiving share application money in cash exceeding Rs. 20,000 under the Income Tax Act, 1961. The response clarified that such transactions are not considered loans or deposits under Sections 269SS or 269T of the Act. (AI Summary)
Income Tax
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