4,73,131 number of Indian Companies & 1,065 number of Foreign Companies benefited by availing CFSS 2020

Last updated: 10 February 2021

Quick Summary
The Companies Fresh Start Scheme (CFSS) 2020, launched by the Ministry of Corporate Affairs, has significantly benefited Indian and foreign companies. A total of 4,73,131 Indian companies and 1,065 foreign companies took advantage of the scheme to file their overdue documents. The CFSS 2020 allowed companies to rectify filing defaults of any duration, granting immunity from prosecutions and penalties for delayed submissions. This initiative provided a crucial opportunity for businesses to become fully compliant without incurring additional late filing fees during the period of 1st April to 31st December 2020.

As per records available with the Ministry of Corporate Affairs (MCA), 4,73,131 number of Indian Companies and 1,065 number of Foreign Companies have been benefited by availing the Companies Fresh Start Scheme (CFSS), 2020 for filing their pending documents.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha today.

The Ministry of Corporate Affairs (MCA) through the General Circular No. 12/2020 dated 30.03.2020 launched the Companies Fresh Start Scheme, (CFSS) 2020 which inter- alia provides opportunities to Companies to make good any filing related defaults, regardless of duration of defaults, and make a fresh start as a fully compliant entity.

Giving more details, the Minister said the Scheme condoned the delay in filing the belated documents and gives immunity from prosecutions and proceedings for imposition of penalty which might arise on account of such delayed filing of documents. No additional fees was charged for late filing during a moratorium period from 1st April to 31st December, 2020 in respect of documents, returns etc. required to be filed in MCA-21 Registry.

CFSS 2020: Over 4.7 Lakh Indian Firms Benefit

Break up of Number of Companies that availed the scheme State/UT-wise which is as per Annexure- A.

FAQ :

The CFSS 2020 was a scheme launched by the Ministry of Corporate Affairs to allow companies to file pending documents and rectify defaults, providing a fresh start as a compliant entity.

A total of 4,73,131 Indian companies benefited from the CFSS 2020.

A total of 1,065 foreign companies benefited from the CFSS 2020.

The scheme condoned delays in filing documents and provided immunity from prosecutions and penalties that would normally arise from such delays.

No additional fees were charged for late filing of documents during the moratorium period from 1st April to 31st December 2020.



Guest

News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :

Recent News :

  1. Specified Senior Citizens: TDS Rules on Pension and Interest Income Under Income Tax Act, 2025
  2. Income Tax Benefits for Small Businesses in 2026-27: Key Deductions and Exemptions
  3. Set-Off and Carry Forward of Loss Under Income Tax Act 2025
  4. Income Tax Department Lists 10 ICDS and Their Reconciliation With Accounting Standards
  5. Finance Ministry Allows 10 Lakh MT Duty-Free Raw Sugar Imports Till 31st October
  6. Salaried Employees Tax Benefits for TY 2026-27: Check All Allowances and Exemptions
  7. Compounding of Offences Under Income Tax Act 2025: Key Rules, Charges and Eligibility
  8. ITR-6 Online Filing for AY 2026-27 Now Available on Income Tax Portal
  9. Ind AS Amendment Rules 2026: New Changes in Financial Instruments, Hedge Accounting & Disclosures
  10. Health Insurance Tax Benefits Under IT Act 2025: Deduction Limits, Eligibility and Conditions

More »


Popular News




Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Bijoy MPouloseBijoy MPoulosePro Member VIKASH KUMAR JAINVIKASH KUMAR JAINPro Member Hanuman YanduriHanuman YanduriPro Member ajay khannaajay khannaPro Member SivakumarSivakumar
Subscribe to Pro
Join an elite circle of professionals


Browse by Category