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Share Application Money

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 April 2010 Can a Company credit a Share Application Money Account by way of raising Debit in the name of Sharholder in Company's Books or Money should be introduced in Share Application Money Account only by payment to compnay in cash.

Its in case of Private Ltd. Co.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 April 2010 IT SHOULD BE SHOWN IN SHARE APPLICATION MONEY ACCOUNT. OR ALTERNATIVELY A GROUP NAMED SHARE APPLICATION MONEY CAN BE CREATED AND NAME OF PARTY CAN BE SHOWED IN THAT GROUP.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
09 April 2010 as per my opinion Money should be introduced in Share Application Money Account only by payment to company in cash.
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