16 July 2009
Dear Sir, The Sec 599 of the companies act does not specify any limit for the penalty amount to be paid in case of default in filing the accounts, but in the ROC's fee calculator the penalty for default does not exceed 1 lakh. So is 1 lakh the maximum penalty amount? if So, which Act prescribes it? Please help.....
16 July 2009
ROC FEES Late Filing Fees Upto one month == 1 Time of normal filing fee More Than One Month Upto three month == 2 Time of normal filing fee More Than three Month Upto six month== 4 Time of normal filing fee More Than six Month Upto one year== 6 Time of normal filing fee More Than one year Upto two year== 8 Time of normal filing fee More Than two year== 9 Time of normal filing fee
16 July 2009
Sec 598 of companies Act "If any foreign company fails to comply with any of the foregoing provisions of this Part, the company, and every officer or agent of the company who is in default, shall be punishable with fine which may extend to1[ten thousand rupees], and in the case of a continuing offence, with an additional fine which may extend to 2[one thousand rupees] for every day during which the default continues."
in this Section there is no maximum limit mentioned. Sorry i forgot to mention that it is a foreign company.
CAclubindia
