Easy Exit Sceme
This query is : Resolved
18 December 2010
One of our company client have the share capital Rs.1,00,000/- and Reserves Rs.69,00,000/- in the Liability side and On the Asset side we have Bank Balance amounted to Rs.70,00,000/- and also company is not disqualified from EES as per conditions mentioned in the circular of EES in this situation I have some queries
1 Can company go for Easy Exit Scheme?
2 If YES than when company pay the amount showing in Bank amounted to Rs.70,00,000/- to the shareholders than should it be considered as dividend to the shareholders.
3 In the above process what is the Tax and Company Law implication?
Kindly suggest me on the above matter
1 Can company go for Easy Exit Scheme?
2 If YES than when company pay the amount showing in Bank amounted to Rs.70,00,000/- to the shareholders than should it be considered as dividend to the shareholders.
3 In the above process what is the Tax and Company Law implication?
Kindly suggest me on the above matter
18 December 2010
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