CA Sansaar
- All Categories
- Income Tax (1634)
- Students (770)
- Service Tax (497)
- Corporate Law (465)
- Audit (399)
- Accounts (341)
- VAT (277)
- GST (145)
- Excise (106)
- Finance (105)
- Banking (46)
- FEMA (40)
- Custom (29)
- Shares & Stock (18)
- IFRS (18)
- Income Tax Software (5)
- Cost Inflation Index (1)
Recent
- Income Tax Notice Received: What Should a Taxpayer Do?
- IN A GOVT OWENED PSU, MAKE PROVISION IN ACCOUNTS FOR ITEM HAVING CONTIGENCY IN NATURE
- GST Notice Received: How Should a Taxpayer Respond?
- CA vs CMA: Which is better?
- Can a Chartered Accountant Sign Estimated Financial Statements?
- Want to assist in Forensic Audit
- Revising 3CA 3CD to 3CB 3CD
- LFAR in Bank Branch Audit - Clause-by-Clause Discussion by CA Vivek Khurana Notes required
- Bank Branch Audit
- Got high refund
- Form 67
- GSTR9
- Partner of CA firm required
- RENEWAL OF REGISTRATION
- financial statements
- income Tax
- ITR Filing
- Property Attachement
- Liability of Independent and Non-executive director
- financial statements
- stock statement procedure for bank od loan
- ITR FILING OF ARMY UNIT
- signing of Project report
- NON CORPORATE BALANCE SHEET FORMAT
- CA FINAL
- Accounting Treatment of Mutual Fund under IndAS
- ITC Availed & Utilized on Supply from Non-Existent Firms
- GST Liability of Award received by a Company
- Reund of TDS Excess Deposited
- Income Tax TDS
- gst
- Reconstitution of partnership firm in case of death of partner and introduction of new partner
- Consolidattion of financial statemement
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- NR GST NUMBER
- Presumptive Income
- tax audit late filing penality provision applicable f.y.23-24
- Interest in outstanding demand
- sale turnover declared as per books or AIS show in itr f.y.23-24
- GST
Q. > Please Help: Query relating to reversal of Issued Share Capital
Let me take an example,
If In a company Authorised, issued subscribed and paidup capital is Rs 1,00,000/- and on Assets side Cash & Bank balance is rs 1,00,000/- on 31.03.2008. on 30.03.2009 Company receive share application money of Rs 10 cr which has accordingly shown by the company in their closing balance sheet for 31.03.2009.
Now on 30.03.2010 company passes a resolution in which they decide to increase authorised share capital from rs 1 lack to 10 lakh and decide to increase Issued and subscribed share capital from rs 1 lack to 10 crore at premium.
on 20th august 2010 Auditor signed the balance sheet on the basis of Board meeting. Balance sheet is just like that.....
Liabilities
Authorised Sh Cap - 10,00,000
Issued Share Capital - 10,00,000/-
Share Premium - 9,90,00,000/-
Assets
Cash and Bank Balance 10,00,00,000/-
now,
In september company file form 5 for increase in authorised share capital but failed to file form 2 for allotment of shares.
Now, management decides to give back the shares application money received earlier.
Whether the company would be able to do so.
Experts Panelist
Comments