15 February 2016
A private limited company has not filed ROC returns for 3 years as company did not do any work during these period. As the company did no do any work for the financial year 2013-14, there was a loss. Return of income tax for financial year 2013-14 has been filed but the auditor failed to make provision for audit fee although there was loss in that year can I file the return to ROC without making provision for audit fee for financial year 2013-14. can I also file return to ROC for financial year 2012-13. should I make return to ROC after making provision for audit fee even though there is no work in this period too.
15 February 2016
1)You need to file financial statements and annual return with MCA from the date of incorporation of company irrespective of the fact that your company has started business operation or not. Consult a chartered accountant and complete this at the earliest before company status shifts in defaulting catagary
2)If you have not started business operations you cannot simply make audit fee or any other expense as expense and need to capitalize as pre-operating expences.Even assessing officer also will not allow expence when there is no corresponding revenue to that
Please contact a chartered accountant and take his advice in preparation of financial statements and filing of annual return and financial statements with ROC
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