Delay in annual filing for a private limited company

Hi Team,

My client has a Private limited company registed  with 2 directors. The registration date of the company was on 15th febuary 2011. Due to financial and operational complication the company have not yet started operations. 

As of today their main concern is that they have not yet filed the annual returns. I believe the last date for this is already over.  From the date of registration they havent been able to create a bank account or even avail the PAN card on the companies name yet. I would like to know step by step what would you your advise to get things cleared out. Below are the queries.

 

  1. How to go about completing the annual filing now.
  2. Is there any late filing penalties of fees. How badly can this affect the directors and the company.
  3. Operations have not started so revenue is null.
  4. How do we go about availing a PAN card. Would be it creating issues due to the delay caused.
  5. Could somone help me with the list of formalities that the company needs to complete since registration.

 

Replies (5)
if u have nill revenue and taxable profit is also zero ya less than zero than u could filed yr annual till 31st march 2012 in that case u cant avail setoff of losses. I think u have sufficient time to file yr annual return.

Are you referring to filing tax returns ?

Below given are the missing applications/Filling as far as I understand. Please confirm the correct order to file these. And I believe we do not need a compliance certificate. Can anyone confirm if we need this.

Paid up capital : 100,000

Authorised capital: 500,000

PAN Card

 

Sr. No. Document e-Form
1 Balance-Sheet Form 23AC to be filed by all Companies*
2 Profit & Loss Account Form 23ACA to be filed by all Companies
3 Annual Return Form 20B to be filed by Companies having share capital
4 Compliance Certificate Form 66 to be filed by Companies having paid up capital of Rs.10 lakh to Rs. 5 crore

 

 

@ kartik i told u about tax return. But as per company act, company annual return's last date is 60 days after yr FS approved by yr AGM. And after sixty days u can file wd late fee and penelty.

Hello Sir,

The date of registration of your company is 15th February 2011.

According to me, the first financial year of your company should be from 15th February, 2011 to 31st March,2012.

Based on this you would require to comply with the following as per Companies Act,1956:-

  1. Board Meeting every quarter for this period
  2. Maintain the Statutory registers.
  3. Annual General Meeting on or before 15th August,2012 by harmonious reading of section 166 and 210 of the companies Act.
  4. File e-form 23AC(Balance Sheet) and 23ACA(Profit and Loss) within 30 days of holding the Annual General Meeting
  5. File e-form 20B(Annual Return u/s 159) within 60 days of holding an AGM
  6. Form 66 if you require obtaining Compliance Certificate.

During this period you can obtain Shop and Establishment registration, PF registration, PAN, TAN, IEC code.

Thanks,

Regards,

JJ

i agreed with jeets but i am not agree on point six for compliance certificate for any private company which paid up capital is less than ten lacs should not require compliance certificate.

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