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Procedure to liquidate a tax-paying co.

Vivek (student) (31 Points)

26 October 2017

Hello all,

I want to know the procedure to liquidate a private limited company that has been paying income tax. Thanks in advance.

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Ashwin Kumar (1234 Points)
Replied 26 October 2017

i guess it will be as the general procedures....

pass special resolution
pay off preferential creditors
secured creditors
statutory dues
preference share holders
equity shareholders

apply to the court for liquidation
the court will appoint liquidator and realise the assets
file with roc to remove the name of the company.....

correct me if I am wrong

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Vivek (student) (31 Points)
Replied 26 October 2017

Sir, thanx for the reply.

My specific issue is that the form STK-2 has been filed with RoC. After that, is there any IT-centric filing required to be done? Thanx in advance.

Ashwin Kumar (1234 Points)
Replied 26 October 2017

you will have to assess the income from the opening of the assessment year and till the date of liquidation and pay income tax for the same and file the return.....then only your surrender of pan will be accepted...and also make sure that all the statutory dues such as TDS and other tax dues arw duly paid....then only the roc will avail you liquidation.....at times you may have to apply to the court for liquidation where the court appoints a liquidator to realise the assets and pay off liabilities

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