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

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

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

Jayashree S Iyer (Expert)
Follow

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

B.K.RAJANDHERAAN

Shameem ahmed

Ajinkya Deshpande

Jai Solanki

seshachary

Subscribe Now

share application money

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY

CA Final

GST CONSULTANT

Accountant