Paid up capital

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
Asked 7 months ago in Corporate Tax from Chennai, Tamil Nadu
Try to fill other revised form. And keep more of both the form for future 
Vidya Jain
CA, Kolkata
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Just fill the fresh form with revised data and try to upload it. 
Vidya Jain
CA, Kolkata
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Try to do asap. Although no time limit.
Vidya Jain
CA, Kolkata
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You can try to Download Submitted Form For Resubmission Of a Company   on MCA portal. Hope it works.
Lakshita Bhandari
CA, Mumbai
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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. 
B Vijaya Kumar
CA, Hyderabad
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Hi,

You can try resubmitting the submitted form on MCA Portal.
Abhishek Dugar
CA, Mumbai
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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
Rohit R Sharma
CA, Mumbai
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Hello,

Preferable do it in the earliest or any time before 31st March 2017.

Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
Keerthiga Padmanabhan
CA, Greater Mumbai
769 Answers
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