Deadline for Condonation of Delay Scheme Extended

Deadline for Condonation of Delay Scheme Extended

Deadline for Condonation of Delay Scheme Extended

The Ministry of Corporate Affairs has extended the deadline for filing eCODS Form for avoiding director disqualification. Subsequently, the DIN of disqualified directors that were deactivated will continue to remain active for another month upto 30th April 2018.

Director Disqualification

The Ministry of Corporate Affairs had earlier disqualified and deactivated the DIN of over 3 lakh of Directors for failure to file MCA annual return. Subsequent to the disqualification, the Directors were unable to file any returns for the company nor were allowed to incorporate a new company for upto 5 years.

eCODS Scheme

On representation from various stakeholders about the inconvenience caused due to the Director disqualification, the MCA introduced the Condonation of Delay Scheme to provide an opportunity for the disqualified director to regularise their compliance.

Under the scheme, the Directors could file their annual return and income tax return for the overdue years and file eCODS form before 31st March, 2018 by paying a fee of Rs.30,000. On filing eCODS form, the director disqualification would be nullified and the DIN of the directors will be active after the deadline.

eCODS Scheme Extended to 30th April 2018

Now, the Ministry of Corporate Affairs has extended the due date for filing eCODS form from 31st March 2018 to 30th April 2018. The deadline extension will help many more Directors regularise compliance under the Condonation of Delay scheme. To get assistance with regularising compliance for your company under the eCODS scheme, get in touch with an IndiaFilings Advisor at [email protected].

Deadline for eCODS Scheme Extended

Other Related Guides

Loan to Director of Company Loan to Director of Company Companies Act, 2013 restrictions a company in India from providing to loan to a director or to a person connected with a ...
How to sell on Snapdeal How to sell on Snapdeal Snapdeal founded by Kunal Bahl and Rohit Bansal is India's largest online marketplace offering more than four million product...
Circular trading under GST Circular Trading under GST The present article explains the term circular trading with example and also highlights the consequence of circular tradin...
GST on Leguminous Vegetables and Almond Milk GST on Leguminous Vegetables and Almond Milk While implementing GST to the various goods, the Central Government notified the rates of the central ta...
GST for IT Services GST for IT Services To clear up various confusions prevailing in the Information Technology enabled Services (ITeS), the Central Board of Indirect Ta...

Post by IndiaFilings

IndiaFilings.com is committed to helping entrepreneurs and small business owners start, manage and grow their business with peace of mind at an affordable price. Our aim is to educate the entrepreneur on the legal and regulatory requirements and be a partner throughout the entire business life cycle, offering support to the company at every stage to make sure they are compliant and continually growing.