alleryStart learning →The minimum fine on a company under section 76A is which amount?
AHigher of Rs 1 crore or twice deposit
BHigher of Rs 10 crore or the deposit
CLower of Rs 25 lakh or deposit amount
DLower of Rs 1 crore or twice deposit
Answer & Solution
Correct answer: D. Lower of Rs 1 crore or twice deposit
Since the 2018 amendment the floor is the lower of one crore rupees or twice the deposit accepted, which spares small defaults a heavy minimum.
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