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Incorporation of Companies in current fiscal increased 21% as compared to corresponding period in previous fiscal The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to corresponding period from April, 2019 to December, 2019 in the Financial Year 2019-20 (till 31-12-2019) has actually increased by about 21% as is evident from the following details: Number of New Companie
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FAQ :
Company incorporations increased by approximately 21% from April 2020 to December 2020, compared to the same period in the previous fiscal year.
This scheme allowed companies to file belated documents without additional fees between April 1st and December 31st, 2020, offering immunity from prosecutions for delayed filings.
Yes, companies have been allowed to conduct Board Meetings, Extraordinary General Meetings, and Annual General Meetings through Video Conference or other audio-visual means until June 30, 2021, and December 31, 2021, respectively.
A Condonation of Delay Scheme was introduced for companies restored by NCLT between December 1st and December 31st, 2020, allowing them to file overdue forms without additional fees until March 31st, 2021.
For the financial years 2019-20 and 2020-21, non-compliance with the minimum residency requirement of 182 days for at least one director will not be treated as a violation.
The deadline for submitting the Cost Audit Report has been extended to December 31st, 2020, with relaxation on additional fees for filing CRA-4 for the financial year 2019-2020. Additionally, auditors and audit firms have an extended period of 270 days to file the NFRA-2 form.
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