Get Form 23aac Application To Central Government For Not Providing Depreciation Pursuant To Section

Filling out the FORM 23AAC is an essential process for companies seeking permission from the central government to not provide depreciation as per the Companies Act. This guide aims to provide a clear and structured approach to completing the form online, ensuring that users have all the necessary information at their fingertips.

Follow the steps to accurately complete the FORM 23AAC online.

1. Click the ‘Get Form’ button to obtain the form and open it in your preferred editing tool.
2. Begin by filling in the corporate identity number (CIN) and global location number (GLN) of your company in the specified fields.
3. Enter the name of the company and its registered office address to provide identification details.
4. Input the year for which permission is sought, ensuring to format the dates correctly (DD/MM/YYYY) for the start and end periods.
5. In the section for detailed reasons and justification, provide a comprehensive explanation regarding the proposal for not providing depreciation.
6. If applicable, indicate whether the company is a government entity and if the concurrence of the administrative ministry has been sought.
7. State whether permission is sought to declare a dividend and, if so, fill in the rate and amount of the dividend.
8. Indicate if the company has defaulted on payments and provide any relevant details if applicable.
9. Confirm whether an application for managerial remuneration beyond prescribed limits has been made, and if so, provide the service request numbers.
10. Discuss how the interests of stakeholders, apart from shareholders, will be affected by current share prices.
11. Outline any special circumstances necessitating the permission sought, supporting your statements with relevant data.
12. Specify the amount of depreciation that is proposed to not be provided, denoting the figure in Indian Rupees.
13. Detail the years during which the deferred depreciation is proposed and the timeline for its commencement.
14. Explain how the company plans to manage the non-provision of depreciation when replacement of assets becomes necessary.
15. Attach the mandatory documents, ensuring to include the required certificates, undertakings, and any other necessary attachments.
16. Review your form for accuracy, use the ‘Check Form’ option, and then proceed to submit the application.

Begin completing your FORM 23AAC online today to ensure a smooth application process.