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1. How in these question Securities premium used for transferring amount to CRR

Prethivi Rajan

CA Final

★ 9K+

12-Apr-23 12:09

709

Answers (6)

As per company act security premium can use for transfer to crr account but for only buyback

M.k. Sivakumar

CA Final

★ 895

12-Apr-23 12:23

But, in our study material, Securities premium is used only for writing off the premium on buy back and not for CRR.

Varshaa M

CA Final

★ 35K+

12-Apr-23 12:39

https://youtu.be/RCsWzyKh2U0?t=1396 I have explained it here. You need to Debit it to P&L.

CA Suraj Lakhotia

Admin

12-Apr-23 13:42

CA Suraj Lakhotia Admin

https://youtu.be/RCsWzyKh2U0?t=1396 I have explained it here. You need to Debit it to P&L.

Thanks Sir , Securities premium also be used to transfer the nominal share amount to CRR , Is these right Sir ?

Thread Starter

Prethivi Rajan

CA Final

★ 9K+

12-Apr-23 13:50

Thread Starter

Prethivi Rajan

Thanks Sir , Securities premium also be used to transfer the nominal share amount to CRR , Is these right Sir ?

As per Explanation II to Sectio n68, Explanation II.—For the purposes of this section, “free reserves” includes securities premium account.

CA Suraj Lakhotia

Admin

13-Apr-23 21:47

CA Suraj Lakhotia Admin

As per Explanation II to Sectio n68, Explanation II.—For the purposes of this section, “free reserves” includes securities premium account.

Thanks Sir

Thread Starter

Prethivi Rajan

CA Final

★ 9K+

14-Apr-23 00:31