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The Karnataka State Chartered Accountants Association requests for an extension in the Companies Companies Fresh Start Scheme 2020 (CFSS) by at least 3 months i.e. till 31st December 2020. Moreover, a same extension has been requested for the LLP Settlement Scheme. This request is generated keeping in lieu the COVID-19 pandemic and the hardships faced as a consequence of it. Date: 17th September 2020 To, Smt. Nirmala Sitharaman Honble Minister of Finance Minister of Corporate Affairs, 1
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FAQ :
The Karnataka State Chartered Accountants Association (KSCAA) has requested an extension for both schemes.
KSCAA has requested an extension until 31st December 2020.
The extension is requested due to the significant hardships faced by companies and chartered accountants in completing compliances as a consequence of the COVID-19 pandemic.
The Companies Fresh Start Scheme 2020 (CFSS) was introduced by the Ministry of Corporate Affairs to allow companies to complete pending compliances without paying additional fees or penalties, and to provide immunity from prosecution.
The LLP Settlement Scheme 2020, introduced via General Circular 13/2020, provides similar relaxations for Limited Liability Partnerships (LLPs) to complete pending compliances.
The CFSS 2020 was in operation from 01-04-2020 to 30-09-2020, and the LLP Settlement Scheme 2020 was also subject to a similar deadline.
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