Paid up capital

You first FY would be from 15-12-12 to 31-03-13.

Normally Rs. 1,00,000/- considered as subscripttion amount contributed by the subscribers.

Ideally this amount should be deposited in the bank account of the company to meet necessary initial operation expenditure to run the company.

But Ankur Sir, no where has been mentioned that the capital subscribed should be deposited in the bank account. so in my point of view, while preparation of accounts as on 31.03.2013, amount can be shown as cash in hand instead of bank. 

You are right sir it is nowhere written. It is just a practice and cash at bank and cash at hand both are fine. Once, a formal ICSI council member has suggested us the banking route for better transparency.

Yes Ankur Sir, You are very much right in such matter taht the better Transpency will be there of the money thriugh peoper channel. But as Nagesh said taht money yet has not been received and Finanacial Year has come to the end, it t is the only option for them to show the money as in form of cash.

Otherwise i am totally agree with your points Sir. what i have given is my point of view.

Moreover Ankur Sir, i use to solve my queries in my Practice just by going through your replies and explanations given in caclubindia. Thaks for your contibution sir for the Betterment for CS fertinity and emerging Professionals.

What has to be done if the subscribed capital is not received till 31-03-2013

Whether i can show it as subscribed capital receivable and finalise the balance sheet