Issue of share certificates
This query is : Resolved
19 February 2017
Dear Experts
My company was incorporated in the month of Nov 2016 but account opening took 3 months owing to PAN and other formalities. Thereafter we received share application money from subscriber to Memorandum of Association of Company.
Time limit for issue of share certificate is 2 months from the date of incorporation of Company (section 56). How should we go forward now? Three months have already been passed.
Waiting for your valuable suggestions. Thanks in Advance!
Regards, Nitin
My company was incorporated in the month of Nov 2016 but account opening took 3 months owing to PAN and other formalities. Thereafter we received share application money from subscriber to Memorandum of Association of Company.
Time limit for issue of share certificate is 2 months from the date of incorporation of Company (section 56). How should we go forward now? Three months have already been passed.
Waiting for your valuable suggestions. Thanks in Advance!
Regards, Nitin
20 February 2017
FIRST SUBSCRIPTION MONEY CAN BE ACCEPTABLE IN CASH ... SO TREAT THAT ALL MONEY OF FIRST CAPITAL AS CASH RECEIPT FOR SHARES. AND ISSUE SHARE CERTIFICATE
Message likes :
1 times
22 February 2017
Thanks Jay!
But the subscribed capital is Rs. 10 Lakhs. This can't be shown as cash contribution. What to do now?
But the subscribed capital is Rs. 10 Lakhs. This can't be shown as cash contribution. What to do now?
27 February 2017
WHY IT CANT BE SHOWN AS CASH? ... FIRST CAPITAL MONEY COULD BE IN CASH
04 March 2017
The directors don't have that much cash with them.. If done so, they won't be able to justify in front of Income Tax authorities. That's why the contribution can't be shown as Cash payment.
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?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
