Minimum paid up capital
This query is : Resolved
10 March 2017
A company in corporated in august 2016 has yet not introduced the paid up capital. Is it necessary to invest the capital as mentioned in moa by the subscribers? Please give reference of particular section/rules.
Thanks in advance
16 March 2017
Yes Nikhar, subscribers to the MOA are required to take respective shares in the first board meeting.
Section 56 of the Act stipulates that the company is supposed to issue share certificates to subscribers to memorandum within two months of incorporation which casts a responsibility upon subscribers to make the payment for the shares subscribed by them within two months.
Section 56 of the Act stipulates that the company is supposed to issue share certificates to subscribers to memorandum within two months of incorporation which casts a responsibility upon subscribers to make the payment for the shares subscribed by them within two months.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Not able to file ITR
- Form 10BD Filling
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
