Guidance and exmption penalty u/s 92(5) for late returns

MCA 134 views 3 replies
Dear Sir/Madam,
 
I would like to say that, we have a company client, whose Auditor has neither filled Annual returns on time, nor intimate to the company regarding due date of filling of such above returns.
 
Company has not worked during the said periods and turnover is less than 2 Lacs of such periods, i.e. FY 13-14, FY 14-15, FY 15-16.
 
Due to above reasons, company has attracted penalty u/s 92(5). Who is liable to pay above penalty i.e. Company or Company's Auditor (CA).
 
Is there any provisions that can be exempt to the company for pay such penalties?
 
Can company file above annual returns without payment of penalty now and remaining procedure of penalty may discuss later with authorities and departments?
 
What should we do? Kindly guide us and oblige.
Replies (3)

Filing annual return is responsibility of  the company  and not of its auditors.  You can  file it now  and go for compounding of offence.

 

Dear Sir,

 

We had appointed a Chartered Accountant for this purpose. CA was never intimate to the company.

Can we claim a case of professional misconduct and serious negligence against CA and complain to the company affairs ministry also?

What action  company  has taken for non-filing of returns for 3 years?

 


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