Ministry of Corporate Affairs Announces Three-Month Scheme for Reduced Late Filing Penalties

The Ministry of Corporate Affairs will launch the Companies Compliance Facilitation Scheme, 2026, from April 15 to July 15, offering companies a three-month window to submit pending annual returns and financial statements with significantly reduced penalties. The scheme allows payment of only 10% of the usual late fees and includes provisions for companies to declare dormant status or apply for name removal with reduced charges. This initiative responds to stakeholder requests and aims to ease compliance burdens amid technical issues with the MCA21 portal.