Uses of securities premium a/c
This query is : Resolved
24 September 2013
Uses of securities premium a/c
can accumulated losses be adjusted against security premium a/c
can accumulated losses be adjusted against security premium a/c
24 September 2013
Share Premium Money only can used for:
(i) Issue and pay up fully paid bonus shares to be issued to the members;
(ii) to write-off preliminary expenses of the company;
(iii) to write-off expenses of issue of shares or debentures or under-writing commission paid or discount allowed on such issues;
(iv) To pay premium on the redemption of redeemable shares or debentures issued by the company;
(v) Purchase of its own shares or other specified securities in terms of section 77A.
Any other use or application of the proceeds of the share premium account will be treated as a reduction of the company's share capital and the provisions of the 1956 Act
(i) Issue and pay up fully paid bonus shares to be issued to the members;
(ii) to write-off preliminary expenses of the company;
(iii) to write-off expenses of issue of shares or debentures or under-writing commission paid or discount allowed on such issues;
(iv) To pay premium on the redemption of redeemable shares or debentures issued by the company;
(v) Purchase of its own shares or other specified securities in terms of section 77A.
Any other use or application of the proceeds of the share premium account will be treated as a reduction of the company's share capital and the provisions of the 1956 Act
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
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- TDS related Query_Liquidated Damages
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
