Post actions for fast track exit

This query is : Resolved

Preety Gupta (Querist)
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21 February 2014 my company has been struck-off vide fast track exit procedure letter u/s 560(5) received as on 17.02.2014.

I have some queries post strike-off as follows:-

1. Do we receive any certificate from ROC, regarding such strike-off or the notice u/s 560(5) is sufficient proof for stike-off of such company?

2. as the company has been struck-off in February, is the company required to file its ITR upto January??

3. What are the other actions to be taken post strike-off, like deactivation of PAN number in the name of the Company and surrender of other certificates/ registrations.

Hoping to receive an answer from your end.

Regards.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 February 2014 1. the notice is sufficient proof

2. it will be covered under section 176 of the income tax act and income earned if any shall be taxable in that previous year itself.

3. You should surrender all the registrations.

Preety Gupta

Preety Gupta (Querist)
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22 February 2014 what if the company did not have any activity/ income during April, 2013 to the date of strike-off i.e., 17.02.2014??

Please note, only because the company could not do any business since the last one year, the company chose fast track exit scheme. therefore, there was no income except regular expenses.

please guide regarding filing of any return in this regard.

With Regards.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 February 2014 Dear Preety,

for companies existence of income or activity is not relevant for tax returns. Please note that even if it is zero, you need to approach AO about closure of business and submit relevant account statements to him. once all the assessments are completed, only then PAN can be surrendered.

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