Private co. default in auditing and filing annual returns

Pvt ltd 1886 views 13 replies

 

Henry Ford hired an efficiency expert to go through his plant. He said, "Find the nonproductive people. Tell me who they are, and I will fire them!"

The expert made the rounds with his clipboard in hand and finally returned to Henry Ford's office with his report. "I've found a problem with one of your administrators," he said. "Every time I walked by, he was sitting with his feet propped up on the desk. The man never does a thing. I definitely think you should consider getting rid of him!" When Henry Ford learned the name of the man the expert was referring to, Ford shook his head and said, "I can't fire him. I pay that man to do nothing but think - and that's what he's doing."

Replies (13)
As such no penalities are levied only additional fees wil be increased if u delay the annual filing..so u can audit the a/c's nd den file returns with additional fees.. Regards

What is the penalty then for late audit i.e. audit after 30th Sept 2011?

1) AuditL What is the penalty then for late audit i.e. audit after 30th Sept 2011?

2) Returns with RO: And what are the fees for late filing of 20B and 23AC assuming that AGM was called on 29th Sept 2011? Assume that the forms are filed on 25th January 2012. Authorised and paid-up capital is 100000.

3) UIncome Tax Return: Filing late Income Tax Return won't have any penlaty since there is no tax payable/TDS etc. The only flip side is that certain losses cannot be carried fwd, correct?

Thank you Piyush for the message....we should not just guess people by seeing them, some are appointed to just sit and think and innovate new ideas.

Nice Msg...

Very nice message..

Thanks for sharing it..smiley

good one piyush sir... 

absolutely true.., "A thought is the root for any achievement", A great thinking followed by hardwork and then with positive attitude.... leads to the success.. I am sure, the administrator who appeared as a lazy one, must have played a great role in designing cars and success of Ford co. Thankyou Piyush for great sharing... and why is that auditing, ereturns, penalty... are here!!????, @ Yash if you have queiries, you can post them on experts section.., you will get answers sure...,

I've actually posted this in Corporate Law: Pvt Ltd. so I have no clue how Piyush posted something above me...

Thoughtful, Kind and Helpful Incident.......

@ Yash Our Timing of Post is same That's why this Confusion arises.As soon as i posted i saw a reply which is yours.

So, it was technical problem, @ Yash, I am so sorry, wish your queiries will be resolved soon., btw.. the title "Time to think", stands good for both topics..:)
Originally posted by : Vandana Mulchandani

Thank you Piyush for the message....we should not just guess people by seeing them, some are appointed to just sit and think and innovate new ideas.


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