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TMI BlogPayment of MCA fees through Electronic ModeX X X X Extracts X X X X X X X X Extracts X X X X ..... Payment of MCA fees through Electronic Mode - News and Press Release Dated:- 11-3-2011 - News - The Ministry of Corporate Affairs has reviewed the processes involved in delivery of important services to stakeholders, with a view to identify and improve the components causing delay in disposal of applications. Payment confirmation is found to be a major bottleneck in delivery of services in resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ect of offline payment made by physical challans. It was found that often there was a delay in confirmation of payments by physical challans, as banks have been given a reporting time of T +3 days, as per payment procedure approved by C AG, T being the transaction date. This leads to delay in creation of work item for disposal of an application/e-form, leading to inconvenience of stakeholders. O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the other hand, it was found that wherever fees were paid online in the system, the work item was created faster and the approvals were speedier as banks are following T +1 for reporting online payments. In the interest of stakeholders, with a view to improving service delivery time, Ministry has decided to accept payments of value upto Rs.50,000, for MCA 21 services, only in electronic mode ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w.e.f 27th March, 2011. For the payments of value above Rs. 50,000, stakeholders would have the option to either make the payment in electronic mode, or paper challan. However such payments would also be made in electronic mode w.e.f .1st October 2011. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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