TaxTMI 
TaxTMI 
CAN A SHARE APPLICATION MONEY RECEIVED IN CASH MORE THAN RS.20000/-
Share Application money in cash
27 Jun 2009 
1 Reply 
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Share application money in cash is not treated as a loan or deposit, so cash-loan/deposit restrictions do not apply.
Share application money cannot be treated as a loan or a deposit for the purposes of cash-acceptance provisions, and therefore the prohibitions and constraints applicable to cash loans or deposits do not apply to share application money received in cash. (AI Summary)
Share application money cannot be treated as a loan or a deposit for the purposes of cash-acceptance provisions, and therefore the prohibitions and constraints applicable to cash loans or deposits do not apply to share application money received in cash. (AI Summary)