The corporate affairs ministry will introduce a three-month compliance facilitation scheme for companies to submit their pending filings with reduced fees, as well as condone the delays.
The scheme, which will be operational from April 15 to July 15, comes after representations from various stakeholders seeking more time for making the filings.
There are more than 20 lakh active companies in the country.
Under the 'Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)', there will be a one-time compliance window for companies to regularise pending filings with reduced fees and condonation of delay, the ministry said on Wednesday.
In a circular issued on Tuesday, the ministry said the number of active companies has crossed the 20 lakh-mark and the rate of growth of companies in the country corresponds to the increase in the formalisation of the economy, which consists of many new-age entrepreneurs, MSMEs and producer companies, among others.
"The ministry has received representations from various stakeholders, including these companies, with a request to waive off additional fees through a scheme. It has been noted that some of these companies, including MSMEs and private companies, have not been able to complete their annual compliances in time, leading to a situation of additional financial burden on account of additional fees payable due to delay," it said.
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In this backdrop, the ministry has decided to introduce the scheme.
Companies can get their pending annual filings completed by paying only 10% of the total additional fees payable on account of delays under the scheme.
Also, the scheme would allow companies that want to be declared as 'dormant' to file the requisite application by paying half of the normal fee payable under the rules.
"The said provision enables inactive companies to remain on the register of the companies with minimal compliance requirements," the circular said.
Under the scheme, companies that want to be struck off the records can file their applications by paying 25 per cent of the filing fees.
However, certain sections of companies, including those against which action for striking off names have been initiated, would not be eligible to avail the scheme.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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