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Closure of Company

When a company ceases to operate its business activities, it is still require to file various documents and returns with government authorities like ROC, Income Tax Department and Tax Authorities etc. Therefore, it become very costly to run the company without having any business operation revenue.

Thus, it is recommended to close or wind up the company and remove its name from registrar of companies by filing application of striking of the name u/s 248 of the Companies Act, 2013, it is known as winding up of a company. Removal of name form the records of the registrar of companies is a privilege to the corporates to close their entities legally without any hassles where they incorporated the company but due to any reason could not commence operations or after the commencement of operations, they are not in operations for two (2) immediately preceding financial years. However, there is a condition that there should not be any asset or liability in the company and bank account shall be closed. In case there is no business transaction in the company and there is no asset and liability then also every company is required to maintain the proper books of accounts, get them audited and file the necessary returns with Ministry of corporate affairs and income tax department, otherwise director may also get disqualified apart the fine and penalties under the provisions of companies act, 2013. Procedure and planning of striking off the name of company from the registrar of companies requires the help of an expert.

We at TaxMuneem take care of all your needs by providing personal supervision to compile forms and supporting documents.

Get started at just Rs. 21,999

By Submitting you agree to Terms & Conditions

Drafting of application for removal of name along with attachments.
Drafting of Statement of Account
Government Fee for filing application

Any other cost as mentioned in inclusion.
Cost of DIN/DSC of Director

Copy of Board Resolution authorizing making of this application
Copy of Special Resolution
Auditor’s Certificate
Statement of affairs duly certified by Chartered Accountant/ Auditors of the Company
Consent of Lender if any loan is subsisting
Optional attachments and any other information

2-3 week time for filing the application
3-4 months process may be taken by MCA for winding up

Annual ROC Filing

PACKAGES

Standard
Rs 21,999/-
Closure of private limited company which has completed GST and Income tax compliance.
Advanced
Rs 30,999/-
Closure of private limited company including GST surrender and last one income tax filing.
Premium
Rs 39,999/-
Closure of private limited company including GST surrender and last two income tax filing, if time for filing available.

FAQ

Closure of a company simply means bringing the company to its end, the result of which the company ceases to operate its business.

A Company can be closed either voluntarily or by an order of the Tribunal.

The tribunal may order the Closure of a Company in the following situations:

  • Inability of the company to pay-off its debts.
  • If the company has defaulted in filing the financial statements or Annual Returns with the Registrar for immediately preceding 5 consecutive years.
  • If the Tribunal opines that it is just and equitable that the company should be wound up.
  • If the Tribunal is of the opinion that the company has conducted its business in a fraudulent manner.
  • Such other matters which the Tribunal may deem fit for the winding up of the company.

The following persons may file a petition for the closure of a company:

  • The Company itself
  • Any Creditor of the Company,
  • Any Contributory or Contributors,
  • The Registrar,
  • Any person authorised by the Central Government in this behalf.
  • If the company in the general meeting passes a Special Resolution requiring the company to be wound up voluntarily, as a result of expiry of the period of its duration, if any fixed in its Articles of Association.
  • Passing by a company, a Special Resolution that the company be wound up voluntarily.

If the officers (whether in case of Voluntary Winding up or at the order of the Tribunal), commits any offence, he shall be punishable with imprisonment for a term which shall not be less than 1 year, but which may extend to 3 years and with fine which shall not be less than Rs. 1,00,000/- but which may extend to Rs. 3,00,000/-.

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