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Journal entry

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(Querist)
22 September 2011 what is the Journal Entry if Share Alloted on Premium
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
23 September 2011 Share allotment DR
To Share Capital

Bank DR
Securities Premium DR
To Share Allotment.
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mint

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mint (Querist)
24 September 2011 thanks for the reply one more question is there any capital tax on that premium
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
29 September 2011 well the above entires are required to be passed in reverse manner first entry for recipt of allotment or application money than allotment entry if all amount is called in once
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
29 September 2011 there is no capital tax on the amopunt of the receipt

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