Attached news item says share information about startup tax demand with localcircles. How should we do the same. Kudos on continued super work LC. more
What haHow about few of Startups whose Registered Companies are issued with NOTICE of Removal of Company Name from the The Register of Companies, as these were strugling to get Seed FUND and buring their fund arranged internally. They having Registered their Startup Company under Registrar of Coompanies, and could not make finacial progress have been issued with a letter stating that QUOTE : persuamt to sub-section (10 and (2) of teh Companies Act, 2013, notice is hereby given that as per avaialble record: - " the company is not carrying on any business or operation fro a period of two immediately preceeding finacial years and has not made any application with in such period for obtaining teh sattus of a dormant company under section 455" . These Comapnies are started after 2013 -2014 and are not differentated with those of so called SHELL -COMPANIES created earlier for mmoney laundering purpose ,etc . These notices were issued with a threat to remove the bame of Company within 30 days of giving such notice. What has to be done while the Founder/Co-Founder as directors of the Comapny are staying abrod and not able to send suitable replies or any documents on Business activities not leading to any finacial gain so fatr for more than 2 FY s after Incoprorating and Registering under ROC, Gov,India. Any suggestion from learned members here as my son is one who is on Busines trip to US and recived the letter earlier here at adress and nort able to reply the same so far. more
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Many of you know how LocalCircles had worked with the Government in 2019 on resolution of angel tax issues under Section 56 (2)(viib) of the Income Tax act. Once again, the Government h...
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By Hasmukh Sangani
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