Fast track exit mode

WE FORMED A COMPANY IN NOVEMBER 2011.  FROM THEN ON THERE ARE NO OPERATIONS EXCEPTING OPENING A BANK ACCOUNT.  EVENTHOUGH THERE IS NO BUSINESS, WE FILED OUR INCOME TAX RETURN AS AT 31.03.2012.  FORM 23B HAS BEEN FILED FOR THE PERIOD UPTO 31.03.2012.  WE ARE ABOUT TO FILE ANNUAL RETURNS AS AT 31.03.2012 WITH ROC. 

NOW DUE TO VARIOUS REASONS BEYOND OUR CONTROL, WE WANT TO CLOSE DOWN THE COMPANY FORMED IN NOVEMBER 2011.  CAN WE TAKE FTE MODE TO CLOSE THE COMPANY.

LOOK FORWARD TO THE ADVISE FROM THE LEARNED FRIENDS.

 

SUMANTH

Replies (1)

Yes FTE scheme can be availed for closing a non-functuning company.

 

Pls ensure that the company has no assets and liabilities except balance in Bank, cash and share capital.

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