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New company formation

Kavita Poddar (MANAGER) (31 Points)

18 June 2015

A private limited company was opened 3 years ago but due to some reasons no transaction has occurred in last 3 years, no annual returns filed and no income tax return since there wasn't any business done . Now what compliances are to be done to start a business in that company.

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6 Replies

Ravi Gupta (Company Secretary) (42 Points)
Replied 18 June 2015

Hi,

You have to file Annual filling forms for all defaulting years with additional fees.

Regards

Kavita Poddar (MANAGER) (31 Points)
Replied 18 June 2015

And for that will have to update the dsc first?

Kavita Poddar (MANAGER) (31 Points)
Replied 18 June 2015

Company had 3 directors out of which one is no more.

Amit Jaste (Practising CS) (25 Points)
Replied 21 June 2015

Hi,

You will have to obtain DSC for existing Directors - get them registered in MCA.

Prepare Annual Accounts and Annual Returns and get the same Certified by Proefessionals and file on MCA with penalties. If the Company is Pvt LImited, you can still continue with 2 directors. Ofcourse you will have to file Form 32 / DIR 12 for the deceased director.

Regards

Amit J

Kavita Poddar (MANAGER) (31 Points)
Replied 21 June 2015

Thanks ravi and amit.company was incorporated on 15.06.2102,since there were no transaction till 31.3.15 at all so the annual return for 31.3.13, 31.03.14 & 31.3.15 would be nil?

Amit Jaste (Practising CS) (25 Points)
Replied 22 June 2015

Kavita,

There are 2 things - 1) Annual Accounts and 2) Annual Return.

eventhough there were no transactions, set of accounts is still required ( such as audit fees, legal filing etc). Once these are prepared and signed , you will have to file the same wiht MCA.

Annual Return contains certain information - which is Non Financial and therefore Annual Return wont be NIL.

You will have to get the same prepared and signed and filed in prescribed format.

Regards

Amit