Fast track exit scheme for defunct/dormant cos.
This query is : Resolved
16 December 2013
Fast Track Exit Scheme says that any defunct/ dormant company with nil asset and liability can apply:-
What if
Particulars From 01.04.2013-16.12.2013
I. EQUITY AND LIABILITIES
(1) Shareholder's Funds
(a) Share Capital 100,000.00
(b) Reserves and Surplus (105,000.00)
(2) Current Liabilities
(a) Other Current Liabilities 0
TOTAL (5,000.00)
II. ASSETS
(1) Non-Current Assets
(a) Fixed Assets
(i) Tangible Assets -
(ii) Intangible Assets -
(2) Current Assets
(a) Cash and Cash Equivalents 0.00
(b) Short-Term Loans and Advances -
c) Other Current Assets -
TOTAL 0.00
KINDLY GUIDE THE REMEDY.
What if
Particulars From 01.04.2013-16.12.2013
I. EQUITY AND LIABILITIES
(1) Shareholder's Funds
(a) Share Capital 100,000.00
(b) Reserves and Surplus (105,000.00)
(2) Current Liabilities
(a) Other Current Liabilities 0
TOTAL (5,000.00)
II. ASSETS
(1) Non-Current Assets
(a) Fixed Assets
(i) Tangible Assets -
(ii) Intangible Assets -
(2) Current Assets
(a) Cash and Cash Equivalents 0.00
(b) Short-Term Loans and Advances -
c) Other Current Assets -
TOTAL 0.00
KINDLY GUIDE THE REMEDY.
17 December 2013
Dear Preety:
where does it say that company should have asset/liability. Rather the definition of defunct company is
"which has nil asset and liability and has not commenced any business activity or operation since incorporation; or is not carrying over any business activity or operation for last one year before making application under the said Scheme"
So in your case you are very much eligible as you have no outside liability or asset. but why is not your balancesheet tallying??
where does it say that company should have asset/liability. Rather the definition of defunct company is
"which has nil asset and liability and has not commenced any business activity or operation since incorporation; or is not carrying over any business activity or operation for last one year before making application under the said Scheme"
So in your case you are very much eligible as you have no outside liability or asset. but why is not your balancesheet tallying??
17 December 2013
it did thank you for your prompt reply.
17 December 2013
You are welcome
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Form 121 of income tax
- Unable to login
- Applicability of corporate governance provisions as per the SEBI LODR
- Cheque bounce intimation letter
- Minor - PPF Rules Doubt
- ESI Applicablility As per new wage code
- Closing sole proprietorship CA firm
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
