Starting up a company
This query is : Resolved
14 May 2012
Sir,
to start a pvt ltd company there is a need of minimum authorized capital of INR 100000.
Does this mean INR 100000 as cash.
Should I keep this much money in my hand or at bank to set up a company?
Is it a must for register under shop and establishment Act as part of registering a company if the main object is to provide consultancy services?
to start a pvt ltd company there is a need of minimum authorized capital of INR 100000.
Does this mean INR 100000 as cash.
Should I keep this much money in my hand or at bank to set up a company?
Is it a must for register under shop and establishment Act as part of registering a company if the main object is to provide consultancy services?
14 May 2012
Dear Sooraj,
Any private company must fulfill the minimum criteria to incorporate a new company under the Companies Act, 1956.
You can open a bank account and keep the money in bank or otherwise you can keep the money in cash itself. But you should open a bank account after the incorporation. Within one month you should bring the subscribed share capital into the business i.e. company's account.
Any private company must fulfill the minimum criteria to incorporate a new company under the Companies Act, 1956.
You can open a bank account and keep the money in bank or otherwise you can keep the money in cash itself. But you should open a bank account after the incorporation. Within one month you should bring the subscribed share capital into the business i.e. company's account.
Message likes :
1 times
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
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- Gift to nri relatives residing in usa
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
