https://www.taxtmi.com/forum/issue?id=106873 A private limited company may, on the depositor's instruction, transfer received share application money to an unsecured loan account; such a reclassification is a matter of accounting treatment and, where it reflects the applicant's direction rather than a fresh act of deposit-taking, has been held not to contravene the statutory prohibition on acceptance of deposits under relevant tax-administrative precedent. en-us Tue, 03 Jun 2014 13:08:49 +0530 Thu, 23 Jan 2025 15:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106873 A private limited company may, on the depositor's instruction, transfer received share application money to an unsecured loan account; such a reclassification is a matter of accounting treatment and, where it reflects the applicant's direction rather than a fresh act of deposit-taking, has been held not to contravene the statutory prohibition on acceptance of deposits under relevant tax-administrative precedent. Discussion-Forum Income Tax Tue, 03 Jun 2014 13:08:49 +0530 https://www.taxtmi.com/forum/issue?id=106873