my client has issued share application money of rs. 600000 in cash one year ago, its authorised sahre capital is 500000 and paid up capital is 400000. what are yhe penalities and prosicution i have to face. does i have to pay any interest on it or not?
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Share application money pending allotment
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Why you should face penalties if your client has done something wrong? Anyway, you can just ask your client to increase authorised capital and then allot the shares now at least.
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