E-Filing of Form No. 23ACA

As per Companies Act,1956 Balance Sheet with attachments is to be filed with MCA thru. Form No. 23AC and Profit & Loss A/c is to be filed with MCA thru. Form No. 23ACA.

 

My query relates to a company which has not started any commercial activity since the plant is under consturction for the last 2-3 years. No Profit and Loss A/c has been prepared but only a statment of "Pre-Operative Expenses pending Allocation" is prepared, which is forming part of company's Balance Sheet.

 

Is e-filing of Form No. 23ACA is compulsory for this company keeping in view that no P/L has been prepared? If yes, what about the mandatory attachment of Profit & Loss A/c?  Please guide.

 

Thanks

Replies (11)

In such case, you file a explanation to Form 23ACA that as no operations are carried out Company has not prepared the P & L acc.

You have to file form 23ACA. There is no doubt about that.

Simply attach "Pre-Operative Expenses pending Allocation" in place of P&L account. This suggestion is based on my personal working experience.


Thanks

Recently I faced the similar situation...

 

I simply put zero in applicable columns in Form 23ACA...

 

The same has been approved by MCA.

Yes yogesh ji you are right. We have to put zero in the columns and attach "Pre-Operative Expenses pending Allocation" in place of P&L.

agreed wid all above replies..

Thanks for your expert advice. Is "Statement of Pre-operative Expenses pending Allocation" is to be filed with both Form Nos. 23AC and 23ACA, since that Statement form part of Balance Sheet.

"Statement of Pre-operative Expenses pending Allocation" is to be filed with both Form Nos. 23AC and 23ACA

Originally posted by : CA.Satendar Kumar

Thanks for your expert advice. Is "Statement of Pre-operative Expenses pending Allocation" is to be filed with both Form Nos. 23AC and 23ACA, since that Statement form part of Balance Sheet.

 

Come on sir ji be practical. Upload with both the forms.

 

Kaun sa size increase ho jayga ya ROC form reject kar dega.

Thanks all for your valuable advise. I already filed both Form 23AC and 23ACA with MCA and enclosed "Statement of Pre-Operative Expenses" with both Forms.  Thanks once again.

Then whether there will be no requirement of Audit of Accounts of such company with no operations?

But  I think that Audit is compulsory for all the companies even inoperative ones?

Dear Mitali,

Audit is very much compulsory for all companies based on the financial year adopted by the company, even if company is not doing any commercial activity or not in business operation.

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