Economy and Politics | Two new schemes on filing returns launched

Economy and Politics | Two new schemes on filing returns launched
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First Published: Fri, May 28 2010. 10 29 PM IST
Updated: Fri, May 28 2010. 10 29 PM IST
New Delhi: To facilitate companies not actively filing their statutory returns such as the balancesheet or annual returns, the ministry of corporate affairs has introduced two schemes—the Easy Exit Scheme and the Company Law Settlement Scheme.
The first is for defunct firms that want to get their names stricken off the Register of Companies, applying mainly to those that have not been active in the businesses they had intended to do.
The second grants immunity to firms from prosecution by charging an additional fee of 25% of the actual additional fee payable for filing belated documents. Both schemes start from 30 May.
Sangeeta Singh
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First Published: Fri, May 28 2010. 10 29 PM IST