We used to transfer fund received every month to share application money received from shareholders. Now at the year end how to show that balance in balance sheet under share Capital
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Share application money received enteries
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Amount of application money received can be shown as share capital only when the shares are allotted to the shareholders.
In case the shares are not allotted then the amount can be shown under "Share Application money pending allotment" in the revised Schedule VI format
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