share application money
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 January 2011
Dear Sir
Is there any maximum period by which money received by the company as share application money should be allotted. ours is a private ltd company.
Rgds
Dear Sir
Is there any maximum period by which money received by the company as share application money should be allotted. ours is a private ltd company.
Rgds
Aditya Maheshwari
(Expert)
19 January 2011
There is no time limit as such but allotment should ideally be made within a period of 6 months from receipt.
Message likes :
1 times
Jayashree S Iyer
(Expert)
20 January 2011
The Companies Act does not specify any time limit. However allotment must be made within a reasonable time, else it may invite audit objections to keep the Share Application Money under that head for a long time.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Form 144 TDS Return Validation Error – Mandatory Fields
- Rent agreement of House of deceased person
- Applicability of tax on invoice
- Capital Gains Tax on Inherited Mutual Fund
- LLP audit and disclosure
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
