We've registered a company at ROC in 2005. But, due to some reasons we didn't do any transactions in that company and doesn't file any IT/ROC/Sales Tax returns as on date. The company was still active in ROC. And recently the auditor of the company also expired due to in-healthy.
Now, shall we go thru another auditor and file IT/ROC as on position. Request your good comments on this.
08 July 2009
Yes, you can go as you not filed none documents with ROC so no auditors appointment was made.
Please note that you need to submit all your ROC returns since 2005 and ROC fees will be increasing month by month for late filing. Please complete it ASAP.
For income tax there is penalty of 5000 for each for non-submission of ITR as Company is compulsorily required to submit income tax return.
All sales tax returns are also need to submitted but it is an easy task to do the submission in the previous dates as all returns are nil.
You can file all relevat ROC Returns since your incorporation,as the case may be , alongwith the late filing fees.
2. As far as the death of the auditor is concerned, the Board may fill the casual vacancy by appointing another auditor to hold office upto the date of the next AGM.
The board of directors are meeting regularly for every 1-2 weeks and they've already appointed a new auditor, but he was asking NOC from previous auditor. As he is not alive, what is the procedure? At the time on incorporation of the company, we declared that he is the auditor.
Now, what to do? tell us any other procedure/alternative.
CAclubindia
