increase in authorised capital
This query is : Resolved
12 April 2010
X co. ltd. passed resolution at its EGM in 21.7.09 to increase authorised capital. But the company have not yet filed form 5 with ROC till date. Can the company show increased authorised capital in the balance sheet as on 31. 3 10 considering the fact that form 5 is to be filed after paying interest for delay beyond 60 days
12 April 2010
Strictly, the authorised capital gets increased once approved by the members. However, since the fees has not been paid, the auditors might object to it. Even the ROC would object the same since the Form 5 is not filed.
Ideally, show the old capital only.
Ideally, show the old capital only.
12 April 2010
agree with suggestion
12 April 2010
For showing the any item on the balance sheet date, the item must exist on the date of balance sheet. But as per AS-5, the events occuring after the balance sheet provide information affecting the determination of the amounts relating to the conditions existing at the balance sheet date, requires adjustment in the balance sheet.
In our query, same case, the resolution was passed before the financial year end but Form 5 is later on with extra fee. So, it can be said that on the balance sheet date, the conditions or circumstances justifying the requirement to present the balance sheet with increased authorised capital.
In our query, same case, the resolution was passed before the financial year end but Form 5 is later on with extra fee. So, it can be said that on the balance sheet date, the conditions or circumstances justifying the requirement to present the balance sheet with increased authorised capital.
12 April 2010
Agree with Deepika, provided Form 5 is filed. In the query, Form 5 is not filed.
12 April 2010
Agree with all learned Experts.
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?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- 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
Trending Online Classes
CAclubindia
