Company A purchased a machinery for which director pay from his own personal account but the bill for machinery was made on name of company. now company want to issue the shares to the directors by showing issue of shares for consideration other cash. Now what is the remedy in this respect.
Menu
Issue of shares for consideration other than cash
Replies (1)
It is not a case of issue of shares for consideration other than cash. Company must have purchased machinery from third party. Hence company should show it as unsecured loan from the director which can then be converted into equity after completing formalities.
However, if the machinery was supplied by the director himself, in that case it will be issue of shares for consideration other than cash.
Recent Threads
- Can wife claim TCS refund
- Which ITR form to use for reporting of Outward For
- Filing of tax return online
- CREDIT NOTE REJECTED IN IMS SYSTEM
- HELP NEEDED ON FORM 26QB
- Pan card request for Self help group
- EFILING ITR2 FROM COMMON FILING UTILITY
- What is the role of a Pay Per Click company in dig
- If I paid advance to party for purchase in m
- Deduction of TDS certificate
Related Threads
CAclubindia
