Annual Compliance for Startups upto a turnover of 20 Lakhs
Annual Compliance without Tax Audit ( Turnover less Than 1 Crore for Trading and Less Than 25 Lakhs for Service)
For Turnover above 1 Crore in Trading and Rs 25 Lakhs in Service
maintain annual compliance with the Ministry of Corporate Affairs.
prepare the Annual Return for your Company based on the financials and performance during the previous financial year.
Once the Annual Return is prepared in the requisite format, the Client's Finance Team can verify the prepared annual return and affix the digital signature.
Once the Annual Return is prepared and verified, the Annual Return can be filed with the Minsitry of Corporate Affairs along with the necessary attachments.
Annual Compliance for Private Limited Company
Following documents are required for Audit, ITR filing and ROC filling of your Company-
1. Bank Statements of all accounts in the name of Company and Individual.
2. Sales Tax/Service/TDS Tax returns if any
3. Invoices of all purchases and sales.
4. Invoices of all types of expenses.
Procedure For Annual Compliance fulfillment Procedure
Need for Annual Complaince
The Companies Act, 2013 provides for penalty/fine or imprisonment either of the officer in default and/or the company. The Managing Director, Executive Director are the “officer in default”. If there is no executive director, all the directors are treated as “officer in default”. For the procedural lapses such as late filing of forms, additional filing fees are required to be paid.
At least four board meetings need to be held in a year and at least one meeting needs to be held every quarter. Presence of the directors is needed for the meeting. Quorum is 1/3rd or 2 Directors whichever is greater. The meetings need to be logged and the signed minutes need to be maintained at the Registered Office.
Form for filing application to Regional Director
A number of registers are required to be maintained, such as? Register of Member, Register of Directors, Register of Contracts, Register of Charges, etc. The registers are required to be kept at the registered office of the company.
This is a shareholders meeting that needs to be held every year. Approval of financial statements, declaration of dividends, appointment of auditors, etc. is the primary agenda for this meeting. AGM needs to be held in the city where the registered office of the company is situated.
it is a Form for filing an application with Registrar of Companies