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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Guidelines for Company Winding Up: Affidavit Accepted if Tax Clearance Certificates Unavailable. Official Liquidators to Consult Tax Departments.</h1> The circular addresses the procedure for members' winding up of companies, specifically focusing on the final meeting, dissolution, and scrutiny of accounts. It highlights an issue where voluntary liquidators cannot provide income tax or sales tax clearance certificates during liquidation. The Department has decided that if no other objections exist, the official liquidator can accept an affidavit from the voluntary liquidator affirming no tax is owed. If there is uncertainty, the official liquidator should consult the relevant tax department to clarify the situation before submitting a report under the applicable sections.
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