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Share application money

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(Querist)
28 March 2014 Sir i need a clarification about share application money.my company was taken 35 lacs this year from various memebers and presently companys authorised capital is 1 lakh only and it will be increased 50 lac from 1.4.14.
presently how to account far all the funds taken by company ..
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Rupesh Jain

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Rupesh Jain (Expert)
03 April 2014 firstly you company cannot take application month excess from your unsubscribed capital.

now you can show in current liability and issue share after increase the capital of the company
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