Regarding share application money received

Jacky (ACCOUNT EXECUTIVE) (219 Points)

11 April 2014  

Dear all,

I would like to know that we have authorised sharecapital of Rs. 25,00,000 shown in the balance sheet F.Y. (2012-2013) of which Rs. 1,00,000 share issued and fully paid up. Now in this last F.Y. (2013-2014) we received amount as "share application money received" amount to Rs. 55,00,000/- . Is it necessary to issue share from share application money at present or can we issue share whenever we want to issue