07 October 2015
Do we need to File all earlier Years pending Annual Return and balance sheet before applying for FTE Scheme, or Just latest year Annual Return and balance sheet will suffice? Also kindly clarify whether NIL Assets & Liabilities clause applies to cash as well? Because in such a case BS of the company shall have only Share Capital and Debit Balance of P&L Account. Thanks in Advance
07 October 2015
No need to file earlier and current years annual returns. Statement of account with capital and P and L a/c (debit balance) is enough as per General Circular 36/2011 dated 7-6-2011.
09 October 2015
Thank you sir. I still have a doubt left. Company has some Cash left but as per Circular 36/2011 the company should have NIL assets & Liabilities and cash is an asset, so can't we file for FTE till cash is over?
CAclubindia
