we incorporated a co. in 2003 and filed annual return of 1st yr only. now plz tell me if i want to file annual return and balance sheets of all years till date, then hw much penalty we will have to pay
We have incorporated one company in 1999-2000 and filed one ROC return for year ending March 2001. Due to bad debt and some fraudulent transaction the company suffered losses and in 2004 we halted its operation. We had not filed ROC return just after first year. We have now received notice in this regard from ROC, asking to explain why further action not to be taken against us under:
Please help me out in this as this company is no more in existance for last six years. Are we entitle to pay some penalty, if so how much and how it can be calculated. And also do let us know is there any option for paying returns and penalty for the years the company was operational i.e. upto 2004 or we have to pay penalty till 2009.
Highly appreciate your prompt helpful response in this regard.
I have gone through the schedule X of the Companies Act, 1956 where I can figure out the fee slabs. My question is as our company has stopped its operations in 2004, do we need to pay upto 2004 or do we need to pay till 2009 as per notice served. Please note last AGM was held in Feb 2004. And our working capital never gone passed 100,000 with three directors as share holders
In Second Table of ROC fees 1+1 means first one is for normal fees and second 1 is extra penalty of the same amount if u file the form within 1 month from the last / due date of filing any form/ document as provided by companies law. It means fees will be twice.
1+2 means if u file any form with in the period between one to three months, and this period begins after the expiry of above said one month in which the fees is twice, then fees will be three times and so on..........
I will explain it to u with help of one an example.....
Assume as per schedule X of Companies act, 1956 the filing fees of Form 23AC & ACA is Rs.500.AS weall know that B/S. is filed with in 30 days of AGM and let us assume AGM date is 30thSeptember.
then normal fees by 30th October is Rs. 500
1+1 by end of November it will be twice so Rs. 1000 and So on…..
“It means if form is late by 1 month fees will by twice and if late by not more then 3 months then fees will be 3 times and further if it is late by 3 to 6 months the fees will be 5 times and so on…”