Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 18th January, 2021 ANNOUNCEMENT Sub: Availability of Companies Fresh Start Scheme-2020 Form as e-form w.e.f. 16th January, 2021 The Ministry of Corporate Affairs (MCA) had introduced a scheme “Companies Fresh Start Scheme, 2020 (CFSS-2020) vide its General Circular No 12/2020 dated 30th March 2020 to give a one-time opportunity to the defaulting companies and to enable t..
CFSS-2020 Form shall be available for filing as eForm w.e.f 16th January 2021. Stakeholders may please take note and plan accordingly. ..
IMPACT OF NO EXTENSION OF CFSS & LLP SETTLEMENT SCHEME What were the benefits of the MCA Scheme? The Ministry of Corporate Affairs, Government of India (MCA), introduced a one of its kind “Fresh Start” Scheme for all companies and Limited Liability Partnerships (LLPs) as a one-time opportunity, in the backdrop of the widespread disruption caused by the COVID-19 pandemic, vide its general circular nos. 12/2020 and 13/2020 dated 30th March, 2020. Highlights of the Companie..
Due to the disruption caused by the COVID-19 pandemic, there has been a continuous demand for an extension in due dates of various compliance. While on 30th December 2020, the government extended the due date for filing ITR and GST returns, no such extension was given for the Companies Fresh Start Scheme, 2020 (CFSS 2020). As of late, an outpour of demands requesting the government to extend the due date for CFSS is being seen on social media. Consequently, hashtags such as #Extend_CFSS and #CFS..
Currently, the entire world is in a pandemic situation and people are struggling to fulfil their basis necessities. In this situation regulatory reporting became a huge burden to so many businesses. In light of these events MCA introduced a scheme where all the companies which has defaulted in previous filings such as Annual returns, financial statements etc can be settled and make a fresh compliance from now on. This Scheme is known as Company Fresh Start Scheme (CFSS) 2020. Lately, so many ..
Over the past couple of weeks, the demand for an extension in the due date for filing various Income Tax and GST Returns was raised on Twitter. After the government's announcement on 30th December 2020, the same was extended. However, no such extension was given for the Companies Fresh Start Scheme. Hence, #Extend_CFSS started trending on Twitter, thereby showcasing the demands of the taxpayers and professionals. #Extend_CFSS trends as professionals demand the same ..
The UP Merchant Association has written a representation letter to the Union and Finance Minister Smt. Nirmala Sitharaman requesting for the Ministry of Finance to extend the Companies Fresh Start Scheme to 30th June 2021. The validity for the CFSS Scheme collapsed on 31st December 2020. However, no news for the extension has come yet. Professionals have also taken it to Twitter to express their demands, as Extends_CFSS trends on the social networking site. Read the official representation lette..
The Institute of Company Secretaries of India has written a representation letter to the Union and Finance Minister Smt. Nirmala Sitharaman requesting for the Ministry of Finance to extend the Companies Fresh Start Scheme to 31st March 2021. The validity for the CFSS Scheme collapsed on 31st December 2020. However, no news for the extension has come yet. Professionals have also taken it to Twitter to express their demands, as Extends_CFSS trends on the social networking site. Read the off..
Filing Under Companies Fresh Start Scheme: Status from Non-Compliant to Active Compliant for Private Limited Company. As we all are aware of the unpredictable situations caused by the global pandemic Covid-19. The Ministry of Corporate Affairs has introduced a new scheme known as the Companies Fresh Start Scheme, 2020. Additionally, MCA has also given the LLP’s financial relief with regard to Compliances considering the current situations by introducing LLP Settlement Scheme, 2020. ..
Amidst the COVID-19 pandemic, there are 'n' number of compliances that a company has to complete. Now taking this into consideration, The Ministry of Corporate Affairs has launched a scheme namely "Companies Fresh Start Scheme, 2020' to give a fresh start to defaulting companies and to give immunity against the prosecution to such companies by filing E form CFSS 2020. What is this scheme is all about? Who it will benefit? Who it will not? What would be the effe..
ABSTRACT Any company which is established in India has to go through a protracted set of legal procedures before being finally incorporated. A registered company gets a separate legal existence and is capable of exercising all of its rights as an artificial person. A company can sue and can be sued in its personal capacity. A company, whether private, public or one person has to necessarily comply with the provisions incorporated under the Companies Act of 2013. Filing of documents is not one..
The Ministry of Corporate Affairs has extended the Companies Fresh Start Scheme, 2020 till 31st December 2020 due to the COVID-19 pandemic. Read the official announcement below: General Circular No. 30/2020 F. No. 02/01/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated:28th September, 2020 To The DGCoA, All Regional Directors, All Registrar of Companies, All Stakeholders. Subject..