Query regarding allotment of shares
This query is : Resolved
15 March 2017
Respected Sir,
In Case of allotment of Shares by way of conversion of loan into equity whether it comes under Consideration for cash or other than cash?
In case of consideration other than cash:
A Director( also a share holder) gave unsecured loan of Rs. 50 Lakhs.
The company went for rights issue and he wants company to adjust his loan amount agaiinst the proceeds of rights issue and further he gave balance amount by way of electronic fund transfer.
Please tell me whether the above mentioned case willl come under consideration of cash or other than cash.
In Case of allotment of Shares by way of conversion of loan into equity whether it comes under Consideration for cash or other than cash?
In case of consideration other than cash:
A Director( also a share holder) gave unsecured loan of Rs. 50 Lakhs.
The company went for rights issue and he wants company to adjust his loan amount agaiinst the proceeds of rights issue and further he gave balance amount by way of electronic fund transfer.
Please tell me whether the above mentioned case willl come under consideration of cash or other than cash.
15 March 2017
it will be considered as other than cash
attach Copy of Contract/Complete particulars of contract duly stamped, in case securities are issued other than cash
attach Copy of Contract/Complete particulars of contract duly stamped, in case securities are issued other than cash
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- Dep. as per companies act
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- UDIN ISSUE
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
