02 March 2015
There is A pvt limited company having 25 lacs authorisied capital and 2lacs paid up capital. the company is in-operative since its Incorporation. date of Incorporation is August 2013.now the company is strike off under sec. 560 voluntarily.What to do with the subscriber money.AND do the company need to close its Bank Account. If yes then what is the treatment with the amount in the account. Plz suggest.
02 March 2015
repay the o/s amount in bank a/c to share holders in their share holding ration. such amount is taxable in hands of share holders to the extent of profit earned on shares. close the bank account and go to FTE Mode.
because at time of winding up of company after all assets realized and liability paid off , if any amount remains as surplus is to be paid to equity share holders
02 March 2015
But this company is inoperative since its incorporation. only shareholders amount is in the bank account. have nil assets and properties.
CAclubindia
