https://www.taxtmi.com/forum/issue?id=2493 A company may convert a loan into share capital by receiving a share application requesting adjustment of the loan and allotting shares; the date of allotment is the relevant date for credit to share capital, entry in the register of members and filing the return of allotment, and adjustment of loan against application money is not treated as repayment though the assessing authority may dispute that view. en-us Thu, 16 Dec 2010 10:36:48 +0530 Thu, 23 Jan 2025 15:58:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2493 A company may convert a loan into share capital by receiving a share application requesting adjustment of the loan and allotting shares; the date of allotment is the relevant date for credit to share capital, entry in the register of members and filing the return of allotment, and adjustment of loan against application money is not treated as repayment though the assessing authority may dispute that view. Discussion-Forum Indian Laws Thu, 16 Dec 2010 10:36:48 +0530 https://www.taxtmi.com/forum/issue?id=2493