My queries are regarding Paid up Capital of Pvt. Ltd. Co. & income tax return filed for F.Y.2009-10 of Pvt. Ltd. Co.
Authorised Capital Rs.50 Lac ( 50000 Shares of Rs.100/- each ) :- Shown Ok in Bal Sheet
Paid up Capital minimum Rs.5 Lac ( 5000 Shares of Rs.100/- each ) :- Shown Rs.3Lc only & that is also not as per contribution of each shareholder.
Income Tax return has already been filed with dept.
Shares Holders No. of Shares Amt. ( in Rs.) Actually recd.
A 2550 Rs.2,55,000/- Rs.118000/- 20.2.10 ( but from
A's Prop. firm not from indivi a/c )
B 1200 Rs.1,20,000/- Rs.2,50,000/- ( excess
recd.Rs.1,30,000/- but not shown
as loan in FY 2009-10 )
C 1050 Rs.1,05,000/- Rs.50,000/- 13.3.10
(short recd.Rs.55000/- n till dt. not
recd. )
D 200 Rs.20,000/- Rs.200000/- 13.09.10
( excess Rs.180000)
Paid up Capital Shown in finalised Bal sheet of FY 2009-10, Rs.3Lac only instead of Rs.5Lac
Rs.3Lc :- B's Rs.250000/-
C's Rs.50,000/-
Is it possible to file revise return for FY. 2009-10 and if yes how can we show the shares contribution before Mar 2010 ? and what about indivi. return of shareholders ? Amending Articles of Co. is possible ? fees n everything ? what is the solution for this problem ?
CAclubindia
