Can huf be a shareholder

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WebMay 20, 2013 · The assessee submitted that his brother Shri Shiv Singh has sold agricultural lan...consideration of relinquishment of assessees share in the HUF property in favour of his brother, who had sold agricultural land on 12.6.2006 for Rs.12,57,000/- and in th...u/s 142 (1) of I.T. Act and in response, the assessee has filed return of income … WebThe question which arises is whether a HUF can become a shareholder in a company or whether it can become subscriber to the Memorandum of Association of a company for …

Whether a private company can accept deposits from HUF?

WebJul 10, 2014 · As per Section 3 (42) of General Clauses Act, 1897, "Person" shall include any company or association or body of individuals, whether incorporated or not. Hence, a Pvt ltd Company can accept a loan from HUF. Rule 2 (c) (viii) The Companies (Acceptance of Deposits) Rules, 2014 – “deposit” includes any receipt of money by way of deposit or ... WebNov 6, 2024 · The plaintiffs arrayed the Union of India and the karta of the HUF and others as parties to the suit. The suit was dismissed by the civil judge. The plaintiff filed First Appeal No. 27 of 1963 in this...is dated 17-8-1979/21-11-79.3. The writ petition was filed by Shri Krishna, karta of the HUF. incometaxindia forms

Who Is a Minority Shareholder? - Vakilsearch

WebMar 31, 2024 · As per corporate shareholdings filed for March 31, 2024, HUF publicly holds 54 stocks with a net worth of over Rs. 175.4 Cr. These are shares held by HUF as per … WebMay 3, 2024 · Loans Vs Deposits. Rule 2 (1) (c) of Companies (Acceptance of Deposits) Rules, 2014 states that the deposit includes any receipt of money by way of loan or deposit, except. (viii) any amount received from a person who, at the time of the receipt of the amount, was a director of the company or a relative of the director of the Private company: http://www.expertspanel.in/index.php?qa=16763&qa_1=whether-private-limited-company-directors-treated-deposit incometaxindia twitter

Shareholder - Definition, Roles, and Types of Shareholders

Who can become a shareholder? - IndiaFilings

WebSep 20, 2013 · If an individual is a shareholder of the applicant, ... The details of the HUF can be mentioned where the space has been provided on the application form. b. You should sign as an individual/sole holder … WebFeb 1, 2024 · As per Companies Act, 2013 Private limited Company can take loan from followings: 1. Directors. 2. Relative of Directors. 3. Shareholders. As per definition of relative under Private Limited Company there HUF dont cover. Therefore, Loan from HUF shall be considered as Deposit. You can go through below article for complete … incheon south korea zip code 406-840WebDec 27, 2024 · Shareholders' Approval: In the below-mentioned cases, in addition to board approval, the Company also requires a shareholders' approval via an ordinary resolution: a) If the following type of transactions amount to at least 10% of turnover of the company or Rs. 100 crore, whichever is lower :- ... (HUF) and the other enterprise is controlled by ... incheon spa

"WebOct 31, 2024 · Becoming a shareholder means buying the stock of a company using a brokerage firm. In a private corporation, you can become a shareholder by directly contacting the company with and an investing offer. ... can enter and authorize on his behalf. They can buy a share on behalf of the minor and make him a shareholder. HUF (Hindu … " - Can huf be a shareholder

Can huf be a shareholder

Loans by Private Limited Company - KL Aggarwal Associates

WebJan 4, 2024 · The shareholder of a company is the individual who is registered as the shareholder in the books of the company. The HUF, the assessee in this case, was not … WebSep 1, 2024 · √ The term Shareholder is distinct from the term Member. √ Minor can become member of a company (only for fully paid up shares) √ A firm cannot become a member of a company as it does not carry a …

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WebJan 20, 2015 · 20 January 2015 Greetings to All !! LLP Act allows only individuals and body corporates to be partner of LLP. A private limited company is having HUF shareholders also. How can such company be converted into LLP? be a partner in a Limited Liability Partnership. A HUF cannot be treated as a body corporate for the purposes of LLP Act, … WebFeb 26, 2024 · Shareholder: A shareholder is any person, company or other institution that owns at least one share of a company’s stock. Because shareholders are a company's …

WebThe section says that the shareholder i.e. in this case assessee Sri K.M Agarwal should be the shareholder of not less than 10% of voting rights .The section does not bar to club the individual capacity of the shareholder with his capacity as 'Karta' in HUF. WebSep 11, 2009 · Shri X Karta for XYZ HUF. Ajay Mishra (Company Secretary) (74317 Points) Replied 11 September 2009. Hi. Hindu undivided family (HUF) is represented by its …

WebThe term ‘member’ is different from that of ‘shareholder’. A shareholder can be shareholder by acquiring shares but will not be member till his name entered in the ... WebJan 5, 2024 · The two-judge bench of the Apex Court had categorically held that provisions of deemed dividend are attracted if HUF gets payment and shareholder is a shareholder in a company with substantial interest. In this case, the AO found that the assessee, an HUF, was both the registered shareholder of the Company and also the beneficial owner of ...

WebShareholder: 2: Director/Relatives of Director: 3: Employee: 4: Any other Individual Can’t accept 5: Proprietorship Firm ; Can’t accept: 6: HUF Can’t accept: 7: Partnership Firm Can’t accept : 8: Any Company Yes, can accept, but also comply with Sec 186 3 wherein the conditions are specified for the lender: 9: Banks Yes, can accept: 10

WebOct 30, 2024 · Therefore, if companies having loan from shareholders as on March 31, they have to select remote button no. 2 i.e. ‘Return of Deposit’ to show this amount. One can opine that to show loan from shareholder Company always will select Remote Button No. 2 or Remote Button no. 4. Author – CS Divesh Goyal, GOYAL DIVESH & … incometaxfilling.gov.inWebMay 6, 2024 · Case 3: HUF is the shareholder of the private company through the Karta and no coparcener holds directorship. Position: In that case, requirements of Section 73 … incheon smart cityWebAug 18, 2013 · Yes, you can take. Deposits from HUF. Acceptance of deposit by a private company from HUF:—. (a) If all members of HUF are also the directors of private … incometaxindia webmailWebJul 12, 2015 · Liability of huf in case of personal guarantee. If it is HUF property, the mortgage should be for legal necessity of the HUF. As guarantor for the loan of a company Kartha can only bind teh HUF property if it is for family business. Mortgaging HUF property by Kartha for third party laon, cannot be termed as legal necessity, unless HUF is benefited. incheon south korea photosWebJan 6, 2024 · It was not disputed that he was entitled to not less than 20% of the income of HUF. In view of the aforesaid position, provisions of Section 2(22)(e) of the Act get attracted and it is not even necessary to determine as to whether HUF can, in law, be beneficial shareholder or registered shareholder in a Company. incheon south korea hotelWebOct 13, 2024 · Let us take an example to understand this situation, a HUF can become the member/shareholder of the company through its Karta only i.e. in the register the name … incheon spa clearwater reviewsWebJan 7, 2024 · The appellant/assessee, in the instant appeal, has raised following question of law for determination: “Whether in view of the settled principle that HUF cannot be a … incheon spa clearwater