Redemption of premium amount

Accountancy

Can we cancel off the premium amount from securities premium account or only general reserve Because in the icai book it was cancelled from general reserve

akshaya polisetty

CA Inter

★ 510

26-Apr-21 19:47

866

Answers (4)

Best Answer

We can from either.

Sahibdeep Singh

CA Inter

★ 14K+

26-Apr-21 21:57

According to SECTION-55 of the Companies Act 2013,

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Mahi Yadav

CA Inter

★ 0

27-Apr-21 10:17

Mahi Yadav

According to SECTION-55 of the Companies Act 2013,

Good. Thanks for detailing. But no such companies have been prescribed. So, we can use both.

Sahibdeep Singh

CA Inter

★ 14K+

27-Apr-21 11:03

Sahibdeep Singh

Good. Thanks for detailing. But no such companies have been prescribed. So, we can use both.

Okay thank you

Thread Starter

akshaya polisetty

CA Inter

★ 510

27-Apr-21 11:30