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Assuming you have paid all the salaries and liabilities of the company, you will still need to close the company formally. In case you do not, you (the directors of the company) will be responsible for all the compliances and annual filings of the company - even if it is not doing any business. The penaltie...
Wazzeer Professional Network
ProfessionalHow can a private company be closed?
-
Wazzeer Professional Network
ProfessionalAssuming you have paid all the salaries and liabilities of the company, you will still need to close the company formally. In case you do not, you (the directors of the company) will be responsible for all the compliances and annual filings of the company - even if it is not doing any business. The penalties of not filing these are levied on a per-day basis after the due date and this becomes a huge amount in 3–4 years of time.
To formally close a company, it is needed that:
- All the returns are filed till the year the company did active business
- All the compliances are done and up to date (company as well as directors’ compliances)
- Obtain a nil balance sheet from the auditor
- File for closure of the company
- Keep a check on the communication from RoC till the company closure process is completed
Process of closing a company
If you want to your company. reach out to us here- Close a company11 months ago
View answer
How can a private company be closed?
-
Wazzeer Professional Network
ProfessionalAssuming you have paid all the salaries and liabilities of the company, you will still need to close the company formally. In case you do not, you (the directors of the company) will be responsible for all the compliances and annual filings of the company - even if it is not doing any business. The penalties of not filing these are levied on a per-day basis after the due date and this becomes a huge amount in 3–4 years of time.
To formally close a company, it is needed that:
- All the returns are filed till the year the company did active business
- All the compliances are done and up to date (company as well as directors’ compliances)
- Obtain a nil balance sheet from the auditor
- File for closure of the company
- Keep a check on the communication from RoC till the company closure process is completed
Process of closing a company
If you want to your company. reach out to us here- Close a company11 months ago
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