Paid-up capital
This query is : Resolved
20 July 2015
A Private Ltd was formed in March 2015. The Paid up capital was 10 Lakhs,
My query is..
1. That within how many days the amount of paid-up capital should be deposited in Company's Bank Account.
2. If the amount is still not deposited in bank,,what are the consequences of this..
Regards,,
My query is..
1. That within how many days the amount of paid-up capital should be deposited in Company's Bank Account.
2. If the amount is still not deposited in bank,,what are the consequences of this..
Regards,,
20 July 2015
1. the amount should have been deposited within 2 months from the date of incorporation, because the company is required to issue Share Certificates to subscribers within 2 month and as you know, without receiving money, company can not issue share certificate.
2. if it is still not deposited, the company is in contravention of section 56(4) and the company is liable to punishable as per section 56(6). Plz read it once.
2. if it is still not deposited, the company is in contravention of section 56(4) and the company is liable to punishable as per section 56(6). Plz read it once.
Message likes :
1 times
20 July 2015
SIR,, WHAT IF THE SUBSCRIBERS ARE DIRECTORS OF THE COMPANY??
21 July 2015
It does not matter in this case. Only contravention of Section 56(4) will be there.
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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
