vijaya kumar n (JOB) (488 Points)
29 March 2010
Dear All,
Good Afternoon……………………….
One of the director salary for 3 months is Rs. 660030 and TDS is Rs. 108930. But he want to transfer the salary to share capital A/c. (Per share Rs.10 each)
Now my questions is ….
How many shares we need to issue to that Director…
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 29 March 2010
Amount that remains after deducting the amount of TDS
- Any fraction to be adjusted in cash
kartik_somu
(B.Com, ACA, CISA, CIMA)
(1665 Points)
Replied 30 March 2010
If the company has paid the salary to the director, then he can subscribe for the number of shares he wants with the amount of cash in hand.
if the company has not paid, then how can it be transferred o share capital as such?
CAclubindia
