Company Law Settlement Scheme

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anoop (Querist)
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13 August 2010 A private Ltd company was incorporated on september 2006.It has not filed anyreturns with ROC till date.It now wishes to avail the benefit of the newly introduced settlement scheme.can u please tellthe returns to be filed with ROC(including the period)of first P&L.

Jagruti (CS)

Jagruti (CS) (Expert)
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13 August 2010 You can avail the Benefits of Scheme by 30th August.

The Forms to be filed for 2 to 3 years are:

1. Form 23 AC & 23ACA for filing balance Sheet & Annual report.
2. Form 20B for Annual Return
3. Form 32 for change in Directorship
4. Form 2 for any allotment made after incorporation.

Other forms as per transaction of Company till date.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 August 2010 The CLSS,2010 scheme shall be in force up to 31st August,2010 and not 30th. Ref:- General circular No.1/2010 dated 26/05/2010 para 3(i).

anoop

anoop (Querist)
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13 August 2010 sir i want to know whether the first p&l shall be from sept 06 to mar 07?

Jagruti (CS)

Jagruti (CS) (Expert)
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13 August 2010 It depends upon Company, if Company adopts first year as Sep 06 to Mar 07 than yes.

As per Sec 210 Company cannot have Financial year more than 15 months

anoop

anoop (Querist)
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13 August 2010 If the company wants to adopt sept06 to mar07 as its first financial year and thereafter wants to follow the accounting year from apr-march what is the procedure?

Jagruti (CS)

Jagruti (CS) (Expert)
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13 August 2010 Just in first Board meeting or later, pass Board resolution for approving the financial year from Apr - Mar, except the first FY being from Sep'06 to Mar07.

Jagruti (CS)

Jagruti (CS) (Expert)
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13 August 2010 Below is the resolution for the same:

“RESOLVED THAT the financial year of the Company shall be from 1st April to 31st March every year and the first financial year of the Company shall be the period beginning from ___ Sep 2006, i.e. the date of incorporation of the Company and ending on 31st March, 2007.”

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