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Friday, 14 February 2014

Annual Accounts to be filed with ROC

Directors of the Companies who have not yet file the Annual Returns
would be required to spend more on additional fees for the Period of Delay

Upto 30 days Two times of normal fee
More than 30 days and upto 60 days Four times of normal fee
More than 60 days and upto 90 days Six times of normal filing fee
More than 90 days Nine times of normal filing fees
Source : General Circular No: 4/2010 dt 22nd November, 2010, Ministry of company affairs

How ever this scenario is going to change with the New Companies Act, 2013, which contemplates strict implementation of filing compliance from the corporate, accordingly, additional fees is done away with and, strict penalty of Rs.1,00,000/- is proposed to be levied if the annual accounts are not filed with in the due date, coupled with imprisonment for one year for the directors, considering this all the corporate may align their plans and file the annual accounts in time to avoid the stringent measures contemplated

Corporate if you have not yet complied the Annual Return filing avail reduction to the tune of reduction @ 75% in the Additional fees payable to MCA by filing your Annual Returns through CLSS-2014 Scheme, which is about to commence from August 15, 2014 to 15th October, 2014, for further details have a look at http://drsassociates.blogspot.in/2014/08/company-law-settlement-scheme-clss-2014.html