Hi,
Company passed a resolution for increase in Authorised share Capital of the company on 15th March, 2011 paid stamp duty on the form 5 on 1st April 2011 informed ROC on the same date.
What will be the date of effect of the resolution. can i take a increased authorised capital on 31st March,2011 or it will be effective for f.y. 2011-12 (i.e. from 1st April 2011)
Regards,
Dear Pravin JI,
The capital is increased w.e.f. the date of resolution.
Ya, effected date-Date of passing the resolution by members in AGM/Egm as the case may be
thanks for reply
so I Can show the increased share capital in the balance sheet ending on 31st March, 2011
| Originally posted by : Pravin | ||
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thanks for reply so I Can show the increased share capital in the balance sheet ending on 31st March, 2011 |
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Hi Pravin
In my view, yes you can show the increased share capital in B/S.
As the date of passing of resolution is 15th March, so the effect should be shown in FY 10-11 irrespective of filing of the form
taking place in FY11-12 bcoz the form is just an intimation to ROC to take on record and you have 30days time from the
resolution date to file the same.
Other views Solicited.
regards
Santosh Shah
Agree with everyone...
Infact there is no qus of "cann you show"
The real situation is you have to show as there is no other option and AC is considered to be increased from March 15 for balance sheet and for all other purposes..
Rgds
Agree. Even if the resolution passed on 31st march, the increased authorised capital will be shown in the Final Accounts.
| Originally posted by : CA Aditya Goel | ||
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Agree. Even if the resolution passed on 31st march, the increased authorised capital will be shown in the Final Accounts. |
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CAclubindia
