How to Record "Increase in Authorised Share Capital" Accounting Treatment
as per Books as well Income Tax ?
4 Replies
Khush Trivedi
(3946 Points)
Replied 05 April 2024
In my opinion there will be no journal entry for the increase in Authorised capital how ever in the balance sheet by way of Note of Share capital one has to show increased Authorised capital. As increase in authorised capital not involve any cash inflow, However if you have issued new share capital then case might be different.
RITESH KUMAR BHAGAT
(Student)
(110 Points)
Replied 05 April 2024
But Outflow is Done by 2.8 lakhs
Whether Impact P&L or Balance Sheet or Deferred Written off ?
Whether Impact P&L or Balance Sheet or Deferred Written off ?
Khush Trivedi
(3946 Points)
Replied 05 April 2024
In which form this outflow has been done like whether it is an exps or what? do specify nature of payment
RITESH KUMAR BHAGAT
(Student)
(110 Points)
Replied 05 April 2024
ROC Form SH- 7 for increase in Authorised Capital only
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