Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT RATES :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax

Government extends company law settlement scheme till November 15
October, 18th 2014

The government today extended till November 15 a scheme that allows defaulting companies to make their statutory filings without attracting any prosecution.

Under 'Company Law Settlement Scheme 2014', the defaulter entities can make statutory filings for a period of two months without attracting any prosecution. The scheme, which started on August 15, was to end on October 15.

Following representations from various quarters, the Corporate Affairs Ministry has extended the scheme by another month.

"... this Ministry has, on consideration of requests received from various stakeholders, decided to extend the Company Law Settlement Scheme up to November 15, 2014," according to a circular issued today.

The new Companies Act, whose many provisions came into force from April 1, has stringent norms to deal with defaulting entities and even directors can be disqualified for failing to make necessary annual filings.

Various stakeholders, including the Institute of Chartered Accountants of India (ICAI), had sought extension of the scheme.

On extension of the scheme, ICAI President K Raghu said this one month period would be of immense help for members and corporate in filing their belated documents.

"Also, the defaulting companies which avail the scheme and file all belated documents, the provisions related to disqualification of directors u/s 164 (2) (a) shall apply only for prospective defaults, if any, by such companies," Raghu said in a statement.

At the end of August this year, there were about 1.42 lakh companies that have not filed their annual returns/ balance sheets for more than three consecutive years.

Last month, Corporate Affairs Secretary Naved Masood had said the scheme provides an opportunity to defaulting companies to "make good their default".

According to him, the Companies Act, 2013 lays down stricter regime for companies defaulting in filing statutory returns, with higher additional fees and penalties.

"The scheme condones delays in late filing, by granting immunity from prosecution and reduced additional fee," he had said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions