Section 404 of the Companies Act, 2013
Section 404 of the Companies Act, 2013
"Fees, etc., to be credited into public account"
📘 Bare Act Provision:
All fees, charges, and other sums received by any person or authority under this Act shall be credited to the Consolidated Fund of India, unless the Central Government directs otherwise.
🔍 Key Highlights:
Applicability:
This section applies to all payments made under the Companies Act, 2013 (e.g., fees for company registration, filing returns, or other regulatory compliances).
Destination of Funds:
Such payments go into the Consolidated Fund of India — the main account used by the Government of India for all its receipts and expenditures.
Exception:
The Central Government may, by order, direct that such fees or sums be credited to any other fund or account if required.
🏛️ Purpose:
To ensure transparency and accountability in handling public money.
Aligns with financial governance and public finance norms.
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