Section 372a of the companies act, 1956.
This query is : Resolved
Guest
Guest
(Querist)
29 March 2012
Dear Sir,
I want to know whether accumulated losses and intangible assets are also reduced from free reserves (i.e.for checking the conditions of 60% of (paid up capital + free reserves) for complying the provisions of Section 372A of the Companies Act, 1956.
I want to know whether accumulated losses and intangible assets are also reduced from free reserves (i.e.for checking the conditions of 60% of (paid up capital + free reserves) for complying the provisions of Section 372A of the Companies Act, 1956.
29 March 2012
Hi
As per the Explanation given under section 372A, 'free reserves' means those reserves which, as per the latest audited balance sheet of the company, are free for distribution as dividend and shall include balance to the credit of the securities premium account but shall not include share application money. If accumulated losses is available then it will be reduced from free reserve.
Regards
As per the Explanation given under section 372A, 'free reserves' means those reserves which, as per the latest audited balance sheet of the company, are free for distribution as dividend and shall include balance to the credit of the securities premium account but shall not include share application money. If accumulated losses is available then it will be reduced from free reserve.
Regards
Message likes :
1 times
Guest
Guest
(Querist)
30 March 2012
Sir,
I want to know whether intangible assets are also reduced for calculating the free reserves.
I want to know whether intangible assets are also reduced for calculating the free reserves.
30 March 2012
Hi
Generally intangible assets will not be taken into account for free reserve.
Generally intangible assets will not be taken into account for free reserve.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- E way bill for tractors
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Suggestions required for income tax filing-software (FY 2025-26)
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
