Legal Munshi

Companies Fresh Start Scheme

@ RS. 19999/- ALL-INCLUSIVE FEE

MCA has introduced a new scheme called the 'Companies Fresh Start Scheme 2020' which waives all MCA related penalties and provides prosecution immunity for Directors. Enjoy a one-time waiver of additional filing fees for all delayed filings up to 30th September 2020.

Manage Your Company’s Annual compliance and return from financial statement preparation, annual report, director’s report, board resolution to MCA annual return filing, income tax return filing, auditor appointment, commencement of business filing etc. by our Tax Advisor at just Rs.19999/-

Companies Fresh Start Scheme

The Ministry of Corporate Affairs (MCA) has launched Fresh Start Scheme 2020 and revised LLP Settlement Scheme 2020 to help law-abiding companies and LLPs.

These schemes offer an opportunity for these companies to make a fresh start and clear their compliance defaults. This is an initiative from the MCA to reduce the compliance burden of companies.

CFSS Scheme Provisions

Companies Fresh Start Scheme 2020 (CFSS)

Government announces waiver of up to Rs 107800 for 1 year and exempted forms are ADT-1, AOC-4, MGT-7, KYC and 22A.

Government announces waiver of up to Rs 136900 for 2 years and exempted forms are ADT-1, AOC-4 – 1st year, AOC-4 – 2nd year, MGT-7 1st Year, MGT-7 - 2nd year, KYC and 22A.

For defaulting companies :

  • • Will need to pay only the normal fees for all statutory filings needed for complying with the MCA.
  • • All additional fee, whatsoever, has been waived off
  • • Immunity granted ONLY against proceedings and prosecution arising due to delayed filing.
  • • The company must withdraw the aforesaid(proceedings and prosecution or any related order and notice) appeal, before registering under this scheme
  • • In case the company has not filed an appeal (on the commencement of the scheme) against any such court order related to the delayed filing, it will be given 120 days to do so. No further action will be initiated against it during this period.
  • • The company will be given immunity up to 6 months after the date of closure of the scheme for filing CFSS 2020 Form. The company does not need to pay any fee with this form
  • • The designated authority will issue the Immunity Certificate

The immunity Granted by MCA under the Companies Fresh Start Scheme 2020 does not cover below cases:

  • • Any proceedings involving the interests of any shareholder or any other person qua the company or its directors or key managerial persons.
  • • Company wherein court has ordered conviction or an order imposing penalty has been passed by an adjudicating authority and no appeal has been preferred against the orders, before this scheme has come into force.
  • • Matter of any appeal pending before the court of law an in case of management disputes of the company pending before any court of law or tribunal.

Revised LLP Settlement Scheme 2020

For defaulting companies :

  • • This scheme is to benefit defaulting LLPs for whom filing of belated documents like Form 3, Form 4, Form 8 and Form 11 is due till 31st August 2020
  • • Only payment of the normal application fees for such filings. Any additional fee, whatsoever, has been waived off
  • • No proceedings and prosecution will be initiated by the Registrar against these LLPs if they complete the filing by 30th September 2020
  • • LLPs who have applied for striking off their names from the Registrar will not be considered for this scheme.
  • • Upon the conclusion of this scheme, the Registrar will be free to take necessary actions against the defaulting LLPs who have not availed this scheme.

Who cannot use CFSS Scheme ?

This scheme will NOT be applicable for below cases :

  • • The company has filed an application for strike-off with MCA and the application is pending.
  • • Companies which have amalgamated under a scheme of arrangement or comproise.
  • • Companies that have filed for obtaining Dormant status.
  • • Vanishing companies
  • • Companies in which authorised capital increase is involved or charge documents are to be filed
  • • Companies against which action for final notice for striking off the name has already been initiated by the MCA

Benefits of Companies Fresh Start Scheme

 Penalty waived off
 Business fully compliant to regulations
 Reduce compliance burden
 Immunity from penal provisions
 Fresh Start

Procedure for Companies Fresh Start Scheme with Legal Munshi

Step 1 : Complete Our Simple Online form

You have to provide the details in the form.

Step 2 : Submit all the documents

Submit all the required Documents and information for further process. Check the required documents here.

Step 3 : Expert Guidance

Once you have provided the details, our expert will guide you with the further filing process.

Step 4 : Online Filing

After submission and upon successful verification of all the required documents, one of our experts will do the necessary filing.

Step 5 : Congratulations!!!

Once the filing is done we will inform you and provide the necessary documents.

Pricing and Packages

Starter

Rs.19999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.25 lakhs. Inclusive of government fee and GST.

Economy

Rs.29999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.50 lakhs. Inclusive of government fee and GST.

Elite

Rs.39999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.100 lakhs. Inclusive of government fee and GST.

Here’s how we can help you get rid of all accounting & book-keeping related complexities.

Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors.