Filing of annual returns

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2014 Dear team, we started a dot com company way back in 2011, a foolish step. It never took off, we didn't do any activity what-so-ever no sell no expense (almost).

Unfortunately due to partner issues, we never started. So this is 2014, it was Private limited firm but till date we didn't do any tax/ROC or any other kind of filing etc.

IT was for retail business. How do we close this company now and come out of it?

Please help

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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12 September 2014 The only option is to file all the required returns under Income Tax and ROC (even if NIL transactions), and opt for easy exit scheme of ROC. Better is to contact some CA/CS immediately to avoid further penalties.