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