14 July 2009
Dear Sir, A, pvt ltd company was incorporated on 9th oct 2008 with two promoters, one of them was foreigner, However the Indian promoters has paid his part of the subscription, but the foreigner has not yet paid as on date. Now the company wants to prepare the accounts up to march 2009, in which the paid up capital would be only 50,000/-. but as per the act minimum paid up capital should be Rs. 1.00 lacs. My quary is : 1.How to show this balance amount of Rs. 50.000/- as paid. (otherwise company will not be able to file the accounts) 2. Can any other person pay the amount on behalf of the foreigner in cash so comapny can credit the same before March-09. 3. the foreigner has already sent some of Rs. 50,000/- before incorporation through proper chennal for some other purpose in relation to same business, can we use this fund as his subscription.
14 July 2009
instead of debiting bank you can debit the promoter and credit share capital account. hence he will be shown as a debtor and our capital will be 100000/-
Guest
Guest
(Expert)
30 June 2011
Hello K C Suthar can I have your mail ID please. R P Karal
CAclubindia
