Form 56 for Startup
RAMAPRASAD (MBA) (246 Points)
27 June 2021My question is how to use that fund for day to day working capital as company act don't allow that
RAMAPRASAD (MBA) (246 Points)
27 June 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 27 June 2021
Section 2(8) of the Companies Act, 2013, defines Nominal Capital as the amount of capital that the Memorandum of the company authorizes as the share capital of the company. Hence, it is the registered amount authorized that can be raised by issuing shares.
The company also pays stamp duty in this amount. Typically, you can calculate nominal capital by taking into consideration the working and reserve capital needs of the company.
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)