18 December 2010
One of our company client have the share capital Rs.1,00,000/- and Reserves Rs.69,00,000/- in the Liability side and On the Asset side we have Bank Balance amounted to Rs.70,00,000/- and also company is not disqualified from EES as per conditions mentioned in the circular of EES in this situation I have some queries 1 Can company go for Easy Exit Scheme? 2 If YES than when company pay the amount showing in Bank amounted to Rs.70,00,000/- to the shareholders than should it be considered as dividend to the shareholders. 3 In the above process what is the Tax and Company Law implication?
CAclubindia
