The company has made a share buyback for Rupees 4 crores. The company has share premium account and profit and loss account of 9 crores and 2.5 crores respectively. can the excess amount after reducing the face value of Equity be accounted as a reduction from share premium completely.
If not what would be the proper accounting.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Hema Yashwanth & Associates
Chennai
B.Com
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Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
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CCI
Pro
CAclubindia
