Restrictions on Whether compliance of clause (e) of sub section (1) obligatory where contributions are in the form of shares https://www.taxtmi.com/circulars?id=10592 Section 293(1) requires board action to obtain shareholder consent for contributions exceeding the clause (e) ceiling; donations in the form of fully paid up shares are permissible only if the value does not exceed the prescribed ceiling and statutory requirements are complied with, and deliberate undervaluation to circumvent the ceiling is disapproved. en-us Fri, 18 Mar 1960 00:00:00 +0530 Wed, 15 Jun 2011 16:34:00 +0530 TaxTMI RSS Generator Restrictions on Whether compliance of clause (e) of sub section (1) obligatory where contributions are in the form of shares https://www.taxtmi.com/circulars?id=10592 Section 293(1) requires board action to obtain shareholder consent for contributions exceeding the clause (e) ceiling; donations in the form of fully paid up shares are permissible only if the value does not exceed the prescribed ceiling and statutory requirements are complied with, and deliberate undervaluation to circumvent the ceiling is disapproved. Circulars Companies Law Fri, 18 Mar 1960 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10592