Hello Everyone,
I have a company in which i am a promoter director with my wife and a friend inducted director lately, we are planning to strike off or dissolve my company (Having our capital (80:20 ratio)and onlybmy loan as Directors loan ) There is no business for the last 3 years. we have yearly expenses for Filing fee, audit fee etc.
In this case what would be required to follow, what we need to take care and how ROC/ ITax Dept. will see my loan in the hands of company and in my hands.
Your advice is solicited before taking any steps.
Thanks in advance.
Ajay Kumar
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Company strike off while havimg Directors loa
Replies (7)
- Make sure all concerned Forms ie Annual filing forms etc. are duly filed with ROC.
- While going for strike off voluntarily, assure that there is no liability remained on the part of Company. If there is any loan or payables in the balance sheet just pay off that first.
- Income tax returns, GST/VAT returns etc should have been properly filed upto the date.
Thanks for the reply
Thermre is only directors loan standing in the books. In that case what is need to be done?????
All forms are filed.
All the returns have been filed.
No statutory compliance is pending .
Thermre is only directors loan standing in the books. In that case what is need to be done?????
All forms are filed.
All the returns have been filed.
No statutory compliance is pending .
Dear Chander Pal ji,
The company applying under FTE should not have any asset and liability as on date. Therefore, the Company will have to pay off all its liabilities first. Thanks
Means we have to pour additional capital and then take back loan amount?
or we have to convert our loan amount as share capital?
or we have to convert our loan amount as share capital?
Directors can waive off the loan and sign a waiver letter for the same, making liabilities of the company as NIL. So there will be capital in liabilities side and debit bal of p&l in statement of accounts. By this, u can proceed with filing of stk-2
When the loan is waived off by the Director, will it become income in the hands of the Company?
Will the loans written off by Directors become Extraordinary income in the hands of the company and become taxable under the Income tax act?
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