Key Feature of Immunity Scheme for companies for filing of certain forms
Immunity Scheme for companies for filing of certain forms including annual filing forms namely Company Fresh Start Scheme – 2020 to enable defaulting Companies to file their all pending forms WITHOUT additional fees during Scheme period from 01/04/2020 to 30/09/2020.
The Ministry of Corporate Affairs issued Companies Fresh Start Scheme 2020 vide Circular 12/2020 dt 30.3.2020 which applies both public and private companies incorporated under Co Act 1956/2013.
The salient features are as follows:-
(1) Permits filing all pending Returns, Statements, Documents for any number of years.
(2) It shall come into operation on 1.4.2020 and remain effective up to 30th Sep 2020.
(3) It applies to all companies both public or private who failed to file all returns statements or Documents including Annual Return remain for any number of years as on date of filing.
(4) Only normal fees as prevailing on the date of filing shall be payable.
(5)No late fee no penalty no prosecution only normal fees payable.
(6) Prosecution if any pending shall be disposed off after payment
(7) Scheme not apply to those companies against whom final notice under Section 248 has been given by ROC for striking off or who applied for striking off or applied for being declared dormant co; vanishing company or dormant company or companies under CIRP
(8) Companies who name struck off cannot avail this scheme and have to get their name restored;
(9) Companies can avail this scheme for the purpose of (i) getting themselves dormant under Section 455 and also (ii) getting their name struck off
(10) After payment of normal fees and documents return statement is taken on record, an application shall be filed electronically (without any fees) for obtaining Immunity Certificate but it shall not be filed beyond six month from the date of expiry of scheme.
(11)Scheme grants immunity against filing of forms returns and documents but not against any punitive action being done by the company for which suitable can be taken by ROC.
This is golden opportunity to file all pending Returns Annual Accounts, Statements including all pending Annual Returns pending for any number of years.
************************************************************************
For Tax & Corporate Law Updates on Mobile, we have created Telegram and Whatsapp Group with following Link:
- Telegram Group at –
- Whatsapp Group at
1. https://chat.whatsapp.com/DPhsXkPHeY9F4VIV7pzCVM
3.https://chat.whatsapp.com/EDNNOL2vkHkE8QexNE4fxm
Income Tax Act on Your Mobile Now
Android Application
for
Income Tax Act – 1961 with Cost Inflation Index
and other tools on Mobile now at following link:
https://play.google.com/store/apps/details?id=com.thetaxtalk&hl
