Hello
is it acceptable - if share capital is 50.00 lakhs and share application money is 1.30 crores??? If not what to do???.
PS Mani
Menu
Share application money
Replies (5)
Hi,
There is a chance where share application money exceeds share capital but such excess share application money shall adjust against subsequent calls of refund the same to the applicants to whom it has been received on the occassion of not alloting any shares to them.
It is acceptable,as that could be adjusted in future.
| Originally posted by :PS Mani | ||
| " | Hello is it acceptable - if share capital is 50.00 lakhs and share application money is 1.30 crores??? If not what to do???. PS Mani |
" |
Accepting share application money in excess of authorised share capital is wrong. If your intention is to allot shares, then immediately arrange to increase the authorised share capital and allot the shares
Murali
Application money may have portion of share premium too,therfore nothing wrong in it.
There is nothing wrong with it as long as the nominal value of the issued capital does not exceed 50 lakhs.. excess can shown as Share premium
Recent Threads
- TDS for Advance Maintenance
- GST on product purchased at MRP
- TDS on Joining Bonus
- How to complete form10E Table details for the year
- How to submit ITR for old F&O losses
- Can an Software Engineer be termed as a workman an
- PF withdrawal in IT
- Resolution of Potential Double Taxation on NSC Int
- LTCG reporting in ITR2
- Pls advice to sell and we can make invoice to susp
Related Threads
CAclubindia
