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Available surplus

(Querist) 05 November 2013 This query is : Resolved 
While calculating available surplus we deduct 6% of Opening reserves.

Should we consider Share premium account in Reserves A/c for such deduction.

Please guide.
Report Abuse
Devajyoti Barman (Expert) 05 November 2013
give facts..looks academic query.
Bhalnish Desai (Querist) 05 November 2013
We purchased company in five years back. Where in we paid share premium of 68 crores. This is grouped in reserves and surpluses.

While calculating availablr surplus should we consider the same in opening reserves to get 6% deduction.
Raj Kumar Makkad (Expert) 05 November 2013
It shall be better for you to avail the specified services of a CA for this purpose.
Sudhir Kumar, Advocate (Expert) 05 November 2013
facts not clear
Rajendra K Goyal (Expert) 05 November 2013
Consult accounting personal.
Bhalnish Desai (Querist) 05 November 2013
Ok thanks I will definitely get advice of a chartered accountant
Raj Kumar Makkad (Expert) 09 November 2013
You are most welcome.

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