Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received from the appropriate…
Section 2(4)(c) of the Banning of Unregulated Deposit Schemes Act excludes amounts received from the appropriate Government from the definition of deposit, so they are…
Choose your answer
Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received from the appropriate Government are:
Answer and explanation
Correct answer B
Section 2(4)(c) of the Banning of Unregulated Deposit Schemes Act excludes amounts received from the appropriate Government from the definition of deposit, so they are excluded, not included or treated as illegal receipts.