company established in Year 1995-96 but business is not started at all and filed its income tax return & Roc return for Assessment Year 1996-97 and now onwards company not filed any income tax return as well as ROC Return,further no business made till date.
Now directors wants to sell company then what is penalty for non-filing of ROC return as well as For income -Tax return and what procedure directors held to sell company.
pls provide me the clarification on above issue
| Originally posted by : Naresh G. Patel | ||
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company established in Year 1995-96 but business is not started at all and filed its income tax return & Roc return for Assessment Year 1996-97 and now onwards company not filed any income tax return as well as ROC Return,further no business made till date. Now directors wants to sell company then what is penalty for non-filing of ROC return as well as For income -Tax return and what procedure directors held to sell company. pls provide me the clarification on above issue |
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Dear Mr. Patel,
You missed golden opportunity of closing this company at a very nominal cost under Easy Exit Schemes announced by Ministry of Corporate Affairs (MCA), Govt. of India in May 2010, which closed on 31st August 2010. Thereafter similar Schemes were also announced from 01.01.2011 to 31.01.2011, which was further extended till 30th April 2011. Now this scheme is over.
Thanks
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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CCI
Pro
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