Relevance of Section 52(3) of Companies Act, 2013.
This query is : Resolved
Rishabh Hada
(Querist)
14 May 2016
Kindly explain the relevance of 52(3) inserted by the new companies act. It is on the same lines of 52(2), which indicates the permissible uses of securities premium account.
Message likes :
1 times
16 May 2016
As per my interpretation , Section 52(3) mandates the class of companies who are eligible for utilizing Securities Premium and those companies whose financial statement comply with accounting standards. Thus the said provision warrants satisfaction of the conditions for utilization of SP as the words are "Notwithstanding anything contained in sub-section (1) and (2)......" . Thus this section would prevail over Section 52(2).
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Section 269ST applicability for capital introduced by partner to his partnership firm
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Applicability of tax on invoice
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
