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Share application money

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2013 Can share application money be retained for many years in a Private Ltd. Company
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Ajay Mishra

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Ajay Mishra (Expert)
24 July 2013 Hi

As per revised Schedule VI, no you can not retain share application money for more than year. you will give the details of application money and their treatment in Balance Sheet.
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