New Delhi, Mar 25 (KNN) In a move to encourage startups and make India a startup hub, the Ministry of Corporate Affairs (MCA) has exempted incorporation fee for firms having share capital of up to Rs 15 lakh.

The notification issued by MCA has come into effect from March 18, 2019.

Earlier, the companies with initial authorized capital up to Rs 10 lakh were exempted from any MCA fee on Incorporation and only stamp duty was applicable.

It also made amendments related to shifting of registered office from one state to another state.

Any companies, who want to shift their registered office from one state to another state can advertise the notice of shifting registered office in a vernacular newspaper in the principal vernacular language in the district and in the English language in an English newspaper with the wide circulation, according to MCA notification. (KNN/YV)