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Question
Interest on calls in arrears is charged according to Table F at ______.
Options
6% p.a.
10% p.a.
5% p.a.
12% p.a.
MCQ
Fill in the Blanks
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Solution
Interest on calls in arrears is charged according to Table F at 10% p.a.
Explanation:
As per Table F of Schedule I of the Companies Act, 2013, interest on Calls in Arrears is charged at the rate of 10% per annum, unless the company’s Articles of Association prescribe a different rate.
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.202]
