Calculation of fees payable on increase in Authorised Share Capital:
While calculating the fees for increase in Authorised Share Capital, one gets confused on how to calculate the Fees for MOA and Stamp Duty Amount. There is an option on the MCA site under enquire fees to calculate the Fees for MOA and stamp duty amount but let us also understand how to calculate it manually as per the chart provided in the help kit of Form SH-7. The chart provided by the Ministry is as follows:
|Authorised Share Capital||Other than OPC and Small Companies||OPC and Small Companies|
|Fixed||For every 10,000 or part thereof||Fixed||For every 10,000 or part thereof|
|More than 1,00,000 upto 5,00,000||5,000 +||400||2,000||N.A.|
|More than 5,00,000 upto 10,00,000||21,000 +||300||2,000||N.A.|
|More than 10,00,000 upto 50,00,000||36,000 +||300||2,000 +||200|
|More than 50,00,000 upto 1,00,00,000||1,56,000 +||100||1,56,000 +||100|
|More than 1,00,00,000||2,06,000 +||75||2,06,000 +||75|
Now, let us understand the manual calculation with the help of the below mentioned example.
XYZ Private Limited is a small company and its Authorised Share Capital at present is Rs. 50 Lakhs. Now I want to increase the Authorised Share Capital to Rs. 70 Lakhs. Further, XYZ Private Company is situated in the State of Maharashtra. The calculation would be as follows:
Step 1: Since my Authorised Share Capital is being increased to Rs. 70 Lakhs it falls under the range of more than 50,00,000 upto 1,00,00,000.
Step 2: Since it falls under the range as mentioned in Step 1, I’ll have to pay a fixed sum of Rs. 1,56,000/-.
Step 3: Now I’ll have to calculate the cost other then fixed i.e. for difference between the existing and revised capital on which I shall have to pay Rs. 100 for every 10,000 or part thereof.
Step 4: That means my increase is Rs. 20,00,000 therefore the cost would be 20,000 i.e. 20,00,000/10,000*100.
Step 5: Now I will reduce the MOA payment already made on Rs. 50,00,000/- i.e. existing Authorised Share Capital.
Step 6: The calculation for MOA payment made on existing Authorised Share Capital is calculated as follows. I’ll have to consider the block of more than 10,00,000 and upto 50,00,000.
So the calculation would be:
|Variable||40,00,000/10,000 * 200||80,000|
So the payment on MOA on the existing capital of Rs. 50,00,000 is Rs. 82,000.
Step 7: So the MOA payment amounts to Rs. 94,000 (1,56,000+ 20,000 – 82,000) by combining all the steps mentioned above.
Stamp Duty Calculation (as per Maharashtra State):
For Companies other than Section 8 Companies, stamp duty shall be Rs. 1,000 on every Rs. 5 Lakhs of amount of increase in Authorised Share Capital or part thereof subject to a maximum of 50 Lakhs of Stamp Duty.
In our case, increase is of Rs. 20,00,000.
Therefore, the amount of Stamp Duty shall be 20,00,000/5,00,000 * 1,000 which amounts to Rs. 4,000.
In a nutshell, the whole calculation of Fees is as follows: