When investment in private debentures is cancelled then this profit/loss is credited/ debited to

The premium received on issue of Shares cannot be used for

Income tax deducted from interest paid on debenture is shown in

Assertion (A) When a company earns profit prior to its incorporation, it is called capital profit.
Reason (R) Capital profit cannot be used for distribution as dividend to the shareholders.

A limited company forfeited 100 shares of Rs. 10 each fully called up on which Rs. 4 per share was paid up. The company reissued 50 shares at the rate of Rs. 8 each. The amount transferred to Capital Reserve will be