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Regarding authorized captial

This query is : Resolved 
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(Querist)
04 July 2014 Hi,
Me and My brother were decided to incorporate a private limited company with authorized capital of Rs. 5 lakhs/-
My Query is:
Will we need to show that 5 lakhs cash in our bank account at year ending..?
Or can we show the company assets worth 5 lakhs in balance sheet..?

Regards,

Arun Kumar J
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CA. RAGHAV GARG

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CA. RAGHAV GARG (Expert)
04 July 2014 There is no need to show rs 5lakh in ur bankaccount neither assets in ur balance sheet
it is only max amount upto whiCh shares can be issued
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CA. RAGHAV GARG

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CA. RAGHAV GARG (Expert)
04 July 2014 There is no need to show rs 5lakh in ur bankaccount neither assets in ur balance sheet
it is only max amount upto whiCh shares can be issued
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