Unsecured Loan from Share holders
This query is : Open
28 November 2020
Dear Sir/Madam
Amounts received from shareholders of private limited company are Exempted under Exemption Notification Dated 05th June,2015 to Private Companies to a condition that such amount shall not exceed 100% of the paid up share capital and free reserves. Whether accumulated loss is to be considered as free reserves? and also is it required to deduct the accumulated loss amount (Debit balance in Reserves & Surplus) from the Paid up share capital while computing the exemption limit?
Amounts received from shareholders of private limited company are Exempted under Exemption Notification Dated 05th June,2015 to Private Companies to a condition that such amount shall not exceed 100% of the paid up share capital and free reserves. Whether accumulated loss is to be considered as free reserves? and also is it required to deduct the accumulated loss amount (Debit balance in Reserves & Surplus) from the Paid up share capital while computing the exemption limit?
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
CAclubindia
