Hi All,
I have some clarification regarding foreign remmittance received agaisnt pending allotment of equity share which is reiclasiified as unsecured loan in the audited balance sheet. is the transaction made in the audirot report is correct?
Please Advice..
Thanks
Jayashree
in our company we are showing it as SHARE APLLICATION MONEY itself, in the shcedule of share capital. I think we are more proper. I think, showing it as Unsecured Loan decreases the worth of foreign money which is send by outsiders (may be indivisual or Holding Co.)
CAclubindia
