MCA eases additional charges and filing deadlines
The second wave of Covid-19 has just slowed down in several states in India. Businesses have been impacted in several ways. To ease the pressure off of companies, the Ministry of Corporate Affairs (MCA) has yet again relaxed specific compliance requirements as a temporary measure.
To provide the time necessary for preparing compliance reports, the MCA made a new announcement on 30th June 2021. The circular notified that the revised deadline for filing various MCA XBRL forms under the Companies Act, 2013 and LLP Act, 2008 (other than forms CHG-1, CHG-4, and CHG-9), which are due for filing from 1st April 2021 to 31st July 2021, shall be 31st August 2021.
Additionally, no penalty will be levied for such filings made up to 31st August 2021 except the usual fees charged for lodging these forms.
Companies and LLPs must make the best use of such extensions to stay compliant while navigating their business’s ups and downs during turbulent times.
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