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CAPITAL INTODUCTION BY DIRECORS

nitesh (ARTICLE) (201 Points)

08 September 2018

CAN DIRECOR INTRODUCE CAPITAL IN CASH AT THE TIME OF INCORPORATION OF THE COMPANY?

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2 Replies

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 08 September 2018

Yes, but as per your B/S shown in ITR.

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Mukesh Mukhi (82 Points)
Replied 11 September 2018

HI NITESH SIR,
YES, A DIRECTOR CAN BRING CAPITAL AT THE TIME OF INCORPORATION OF COMPANY AS ONE HAS TO RUN THE COMPANY WITH THE CAPITAL. AND DIRECTORS ARE THE PROMOTORS OF COMPANY SO THEY HAVE TO BRING MONEY .
BUT AS PER BALANCE SHEET SHOWN IN INCOME TAX RETURN FILE. THQNK YOU