Share application money

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Querist : Anonymous

Querist : Anonymous (Querist)

26 October 2012 Dear Members,

A Company received Foreign inward remittance of Rs. 25 lacs in August and Rs. 1 Lacs in September. Can the September amount be taken as subscription amount and August one as further allotment one.

Thanks

Ajay Mishra

Ajay Mishra (Expert)

26 October 2012 Hi

Yes, you can received share application money in trench. As and when you received the money you will intimate RBI accordingly.

Ajay Mishra

Ajay Mishra (Expert)

26 October 2012 Hi

Go to the following link, it may help you on Foreign Direct Investment.....

https://www.caclubindia.com/articles/details.asp?mod_id=13412#.UIoy6rJlS8o

Querist : Anonymous

Querist : Anonymous (Querist)

26 October 2012 Sir,

Thanks for your reply. But my question is as follows.

Suppose a Company is incorporated on 10-Oct-2012. It received 10 lacs on 20 oct and 1 lac on 25 october.

Now, whether we can show 1 lac as subscription amount and 25 lacs for further allotment of shares.

Thanks

Ajay Mishra

Ajay Mishra (Expert)

26 October 2012 Hi

Your company is incorporated on 10.10.2012

You received share application money as FDI ;

You have 2 options:

Firstly you allot partly paid shares and after all money received you treat such balance amount as call money.

Secondly you can allot 26 lac at a time after receiving total amount.

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