DCA announces CLSS-2000

MUMBAI, JULY 4: The Department of Company Affairs DCA has introduced the company law settlement scheme 2000 CLSS-2000 to create an environment of trust, confidence and a healthy partnership between companies and the DCA.

Under the scheme, one time amnesty has been given to those corporates who have defaulted on their tax liability. The scheme is operating from June 6th 2000 to August 31, 2000.

In a statement, the DCA has said that companies should avail of this opportunity and start the new millennium with a clear slate. The companies, which do not respond to positively would have to pay fines which are 10 times higher than the present amount besides facing prosecution.