Dear all,
I would like to know that we have authorised sharecapital of Rs. 25,00,000 shown in the balance sheet F.Y. (2012-2013) of which Rs. 1,00,000 share issued and fully paid up. Now in this last F.Y. (2013-2014) we received amount as "share application money received" amount to Rs. 55,00,000/- . Is it necessary to issue share from share application money at present or can we issue share whenever we want to issue
There is no time limit on the limit of time for holding share application money.
however you cannot hold money more than the authorized share capital of the company. excess amount is to be shown as liability.
or it is advisable to allot the shares.
Thanking You
CA Gaurav Mittal
+91-9971312299
mittalgaurav05 @ gmail.com
and yup i hope yours company is a private limited company
CAclubindia
