Companies Fresh Start Scheme:
“Companies Fresh Start Scheme, 2020″ is a scheme which will give a chance to enable companies to make good of any filing-related defaults, irrespective of the duration of default, and make a fresh start as a fully compliant entity.”
The CFSS Scheme will be effective from 1st April, 2020 to 31.12.2020. (Earlier the duration period was from 1st April, 2020 to 30th September, 2020). And once you file all the pending documents, returns, forms etc, to get the benefit of the scheme, you will need to file the Form CFSS, 2020 within the six months from the conclusion of the scheme that means before 30th June, 2021.
Who will get benefit from the scheme?
Usually, a company is required to file three forms with ROC namely form AOC 4 (Financial Statements), MGT 7 (annual returns) & ADT 1 (Auditor’s appointment) every year. If the company fails to do so, it is called a defaulting company and may have to pay hefty penalties.
Under the scheme following companies may get the benefit:
- All the defaulting companies, who have made a default in filing necessary documents and forms with ROC.
- The companies who have been prosecuted against such default may be able to get the immunity from such prosecutions.
Benefits under the Scheme:
You may file all your pending documents / forms without any additional fees on any return filed by the company under the scheme.
The companies will be granted with the Immunity Certificate
ROC shall withdraw any pending prosecution regarding such forms and proceedings of adjudication of penalties.
To get the benefit under the Companies Fresh Start Scheme, 2020, only filing the pending documents, returns, forms will not be sufficient but to avail the benefit under the scheme You need to ensure that you have complied with all the pending compliance. After that file the Form CFSS, 2020.
Due date for filing the Form CFSS 2020:
The companies has to file the Form CFSS on or after 1st January, 2021 and before 31st March, 2021.
Why Ebizfiling as your service provider for Availing CFSS, 2020 benefits?
Ebizfiling is a group of intellectuals. The entire team of Ebizfiling consists of Highly qualified CA, CS, Lawyers and business administrators. Ebizfiling would be a one stop destination for filing your pending documents / Form CFSS, 2020. Apart from this we provide services like Start up advisory, Secraterial compliance services, Private Limited Company registration services, ROC annual filling, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more. You may get in touch with our compliance manager on 09643203209 or email firstname.lastname@example.org for free consultation and to know more about the services provided by us.