Try to fill other revised form. And keep more of both the form for future
Hi we have just formed a company where wrongly we have given paid up capital as 10,00000 instead of 1,00000 in MOA. now we do not have this much of money to show in our balance sheet. please let me know how we can change this to 1 lakh
Thank you Madam, Can you please elaborate your answer how can i get this revised form
Thank you so much. We have formed our firm on 14 July last month So any time limit to fill this form and uploading in the portal. Please let me know
Only authorised capital is mentioned in MOA and not the paid up capital. Pl check whether the figure of Rs 10 L mentioned in MoA is Authorised Capital or Paid up capital. Stamp duty also is payable on the basis of authorised capital and not on the basis of paid up capital. Pl. do confirm whether the figure of Rs 10 L mentioned in the MoA is authorised capital or paid up capital. You can also get confirmation of the authorised as well as paid up capital by looking into the master data of your company in the MCA portal.
Even if the authorised capital is Rs 10 L, it is not necessary that it should be paid up capital. The only requirement is that paid up capital and share application money together cannot exceed authorised/issued capital. As you just formed the company, most likely the paid up capital would have been NIL in the Master Data of your company in the MCA portal.
My guess is that your the figure of Rs 10 L is only authorised capital and not paid up capital, as you are yet to upload the forms for the allotment of shares. If that is the case, there should not be any problem. You can just keep paid up capital as much as you want to within the limit of the authorised capital by passing suitable resolutions.
Hello,
No time limit as such but preferably do it before the end of month to continue with a hassle free business.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP