Rajbajaj (Consultant) (49 Points)
10 September 2010Dear Experts,
We have registered our company in year 2008 and we had not yet started operations in India.
We want to understand whether we have to file a return for the year 2008, 09 and 10.We have not yet filed any returns since we neither had any meetings for the start of the operations.
Please let us know if we have to perform any activities related to the same.
Kindly help .
Regards
Raj
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 10 September 2010
Yes...
You have to file due returns with ROC like annual returns and annual accounts with nil or relevant figures.
Also you have to show minimum BMs u/s 285 along with AGM u/s 166.
Request you to check section 166, 159, 210, 217, 218, 219, 220 .
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 11 September 2010
Yes, start your business activities.
Show board meetings as per section 285 and 1 Annual General Meeting every year. Approve and file Balance sheet and Annual Returns for the related years.
Nitin Grover
(CS)
(1228 Points)
Replied 11 September 2010
Dear Sir(s)
Can you pls tell me what now will hapeen if they had not done any meeting and dont wanna show any imagionary date.......
Pls tell
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 September 2010
No no they have to show all the meetings, otherwise there would be voilation of Companies Act.
And they cannot file B/s because PCS would not give Compliance Certificate without showing relevant board and general meetings and SRN of Form 66 is to be mentioned while filing Balance Sheet.
Nitin Grover
(CS)
(1228 Points)
Replied 16 September 2010
Dear Sir
I know they have to show but i am asking that they dont wanna show wrong / imagionary dates they wanna follow right way then tell me what happens.
Regards
Neha Gupta
(PCS)
(377 Points)
Replied 16 September 2010
In my opinion as company has not started any Business yet, but should file at least B/S, A/R of the Company for the F.Y. 2009, 2010 as per provisions of Companies Act, 1956 and the matter about dates of Board meetings and AGM if the nothing is done in Company then they have to show factious dates just to comply with the provisions of Companies Act, 1956.
Regards
Nitin Grover
(CS)
(1228 Points)
Replied 16 September 2010
Dear Neha
As Per Companies Act if Company does not start its business activity with in 1 year from Incorporation then it can be Strike Off & its name by ROC.
Regards
Neha Gupta
(PCS)
(377 Points)
Replied 16 September 2010
Yes Sir u r right it can be, But there are many Companies which does not file any single document even after 3-4 years of its incorporation and after that completing all ROC documentation start their business again after 3 to 4 yeras.
Nitin Grover
(CS)
(1228 Points)
Replied 17 September 2010
Neha Gupta
(PCS)
(377 Points)
Replied 17 September 2010
Sir I am talking about those Companies for which the Balance sheet is just Drafted in this year itself for their previous years since incorporation, just to comply with Filing provisions. Effectively no work has been done till date since their incorporation. The balance sheet shows just preliminary expenses, some small liability amount and same Paid up since incorporation and Profit & Loss Account shows only audit fees and some other small expenses.
these companies does not carry out any activity and also Profits and income is also Zero, but to avoid penal provisions we are filing those Documents with concerned ROC.
I think this situation is equivalent to those Companies who does not start any business till date. Because Sir Balance sheets are just drafted, after 5 years of their incorporation and no work has been done till date in those Companies.
Regards.
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 19 September 2010
Dear
Start of business is totally different from filing of annual returns.Once you registered the company you have to file your returns regularly whether you are doing business or not.You may conduct meetings and file returns with additional fee. You may start the business whenever it is possible.
regards
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