EES 2010
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 August 2010
Under EES the company is inoperative since incorporation with a very nominal amount of capital.and no business at all after that. now the company wants to show the assets and liabilities as nil.. can it be possible??
30 August 2010
Atleast minimum share capital as appearing in the subscription part of the MOA must be there i think though the same may be less than the minimum paid up capital as prescribed on the liability side and on the asset side u could show it in P & L Dr balance the same amount.
Message likes :
1 times
30 August 2010
No.
Capital brought in by subscribers should be shown in liability side ,represented by "miscellaneous expenditure and losses" in the asset side of the balance sheet.
Capital brought in by subscribers should be shown in liability side ,represented by "miscellaneous expenditure and losses" in the asset side of the balance sheet.
Message likes :
1 times
30 August 2010
As per my opinion
Share Capital under this head paid up and subscribed Capital must be shown and on asset side the same amount must have been lying in bank a/c. As for the profit and loss only preliminery exp. if any must be shown
Share Capital under this head paid up and subscribed Capital must be shown and on asset side the same amount must have been lying in bank a/c. As for the profit and loss only preliminery exp. if any must be shown
Message likes :
1 times
30 August 2010
Company cannot seek EES,2010 if they have a bank account.
30 August 2010
Yes the format of affidavit states that the company does not have any bank account. So bank account not possible to be shown. However u could show cash balance or P &L Dr balance.
30 August 2010
I am very much thankful to both of you for correcting me.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
