Form 23B – Additional Fee

Every statutory auditor appointed by the company in the Annual General Meeting under section 224(1) of the Companies Act, 1956 in form 23B has to intimate whether he has accepted the appointment or not to the concerned Registrar of Companies, within 30 days of the intimation received from the company by the auditor. Until FY 2011-12, the form was uploaded free of cost. However, the MCA has issued general circular no 14/2012 effective for FY 2012-13 to impose certain fees on filling of form 23B. The Ministry of corporate affairs has decided to charge the auditors on such intimation and impose the penalty in case of delay in filling the Form 23B. Even on the other side, they have made compulsory to mention the Service Request Number i.e. SRN of Form no 23B in Form 23AC so that they can assure the filling of intimation from auditors otherwise the company cannot upload its form for Balance sheet. Now we will move on to schedule X i.e. details of fees for filling of form. The normal filling fees will be as under:-  

(a) Nominal Capital Rs. 1,00,000/- or more but less than Rs. 5,00,000 Rs. 200 
(b) Nominal Capital Rs. 5,00,000/- or more but less than Rs. 25,00,000 Rs. 300 
(c) Nominal Capital Rs. 25,00,000/- or more Rs. 500

  In case of delay the additional fees will be as under:-

Period of Delay Fixed rate of additional fee
Upto 30 days Two times of normal fee
More than 30 days and up to 60 days Four times of normal fee
More than 60 days and up to 90 days Six times of normal filing fee
More than 90 days Nine times of normal filing fees

 Note: The maximum amount of fees payable would be 10 times of normal fees. Please also note that the period of delay will be calculated from the expiry of 30 days from the date in which the last AGM is held i.e 30th September, 2012 ( in usual circumstances) Summing up the entire provision, the total fees for filing Form 23B for FY 2012-13 would be Rs 2000 [Rs 200 as normal fees and Rs (200*9)=Rs 1800] for every private limited companies who have not filed Form 23B for FY 2012-13 within 31st January, 2013. We assure you our best services at all times. We are well aware that MCA is drastically changing rules to bring in more transparency, and our entire corporate law team is at your services, at all times, to take care of all the compliances. Please feel free to contact us regarding any issues. We at have a dedicated corporate law team comprising of Chartered Accountants, Company Secretaries and Legal Practitioners who expertly handles Registration/Incorporation services, along with the annual compliances that the entity is supposed to adhere to, in order to remain in perfect compliance with the law. Further, we also have a direct taxation team who would plan the best tax structure for each of these entities.  

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