Increase in authorised capital

This query is : Resolved

Shahid (Querist)
Follow

15 February 2012 Dear Experts,

The Company is increasing its Authorised Captial from 29 lacs to 18 Cr.

What would be the stamp duty to be paid?

Can anyone please share the Stamp Duty Calculator.

The Company is being Registrered in Mumbai, Maharashtra.

As per the Rates defined by roc for maharashtra its says

Stamp duty shall be Rs. 1000 on every Rs.5
Lakhs of amount of increase in authorised
capital.

As mentioned above the Stamp duty works out to Rs. 354200/-

I have filled up the Form 5 and ready for uploading the same. but while prescrutining the form it prompt an error stating the Stamp Duty mentioned in the Form is incorrect as per the increased in authorised Capital from 29 lacs to 18 cr.

Kindly suggest.

Regards,
Shahid

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
Follow

16 February 2012 The amount of stamp duty is Rs. 3,55,000/-

Shahid

Shahid (Querist)
Follow

17 February 2012 Dear Mitesh,

Can u please explain, how did u arrive at the figure of Rs 3,55,000 ?

Regards,
Shahid

pramod

pramod (Expert)
Follow

18 February 2012 Dear Sir,
Kindly take a note that total stamp duty for this purpose will be Rs.3,55,000/- only.

Reason: Stamp duty shall be Rs. 1000 on every Rs.5 Lakhs of amount of increase in authorised capital or part thereof subject to a maximum of 50 Lakhs of stamp duty.

Given case:
A) 18,00,00,000/- minus 30,00,000/- devided by 5,00,000/- multiplied by 1,000/- is equal to Rs.3,54,000/-

B) and Rs.1,000/- for (30,00,000 minus Rs.29,00,000/- one more slab of Rs.5,00,000.)

Total Stamp duty A) + B) (35,40,000 +1,000 = Rs.3,55,000/-)

However, shall you have any questions please feel free to call or mail us, we would be more than happy to address your doubts or queries if any.

Thanks & with warm regards !

For, Ladda Bhutada & Associates

CS Pramodkumar R. Ladda (Partner)
Cell No. 9922735476 / 9595271145
Company Secretary

PUNE OFFICE: Flat No. 11B, Prasham Apartment,
SR.No. 58, Near Lakheri Maruti Mandir,Rasta Peth, Pune 411011
MUMBAI OFFICE: 58, Gamma,1st Floor, Goa Mansion,Goa Street, Fort, Mumbai 400001

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok