How to Comply with Tax Laws When Company is Stricken Off from MCA Register??

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strike off of companySometime back the government de-registered more than 2 Lakh companies and once again Ministry of Corporate Affairs (MCA ) thinking of striking off another huge number of companies from its register. Then there is a prohibition under Companies Act 2013  on more than two layers of subsidiaries…that also may compel many to apply for striking off companies and reduce the numbers. Apart from this, there may be other grounds for which the promoters of a company may apply for de-registering of the company name.

One tax consultant asked me recently

If a private limited company sold its only asset- an immovable property in the month of June 2018, and desire to apply for de-registration. Then how will the tax return filed if the company is deregistered by the date of filing of the tax return?

So, in case a company applies for de-registration for any reason how to deal with the various legal obligation under the Income Tax Act? OR even when MCA deregister, whether your legal obligation under I.T Act ends? This post is going to discuss and suggest the correct legal options for you.

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