Dear professional colleagues,
A private limited company incorporated in February 2021 has not filed Form INC-20A yet. As per my understanding, the penalty (besides the additional fees) is 50K for the company and 1 Lakh for director.
The company does not have bank account and business is not being carried out. Company does not own any assets.
If I file INC-20A now, will the penalty be imposed? Company is presently in Active status for e-filing as per MCA master data.
Thank you very much for your time,
Chandan
CAclubindia
