Every Company incorporated in India must comply with the ongoing government rules and regulations after incorporation; a private company is required to comply with the various laws and provisions under the Companies Act 2013 and rules made thereunder.
Registrar of Companies (ROC) is the designated authority that deals with the administration of Companies Act 2013 and it falls under the Ministry of Corporate Affairs. The companies incorporated under the Companies Act, 2013 are mandatory to file various forms, returns, and documents with the Registrar of Companies (ROC) in an electronic mode within the prescribed time along with the prescribed fees.
To avoid penalties and fines, it is mandatory to comply with all compliances applicable to your company.
"The Taxsavo team shall guide you through all those compliances required to be completed since the incorporation.
LLP ANNUAL FILING
LLPs in India must file their Annual Return within 60 days from the end of financial year and Statement of Account & Solvency within 30 days from the end of six months of the close of the financial year. Unlike Companies, it is compulsory for LLP’s to maintain their financial year, as 1st April to 31st March. Therefore, LLP annual Filing is due on 30th May and the Statement of Account & Solvency is due on 30th October of each financial year. If the annual turnover exceeds Rs. 40 lakhs or if the contribution exceeds Rs. 25 lakhs then, LLP’s are not required to audit their accounts. Our team at Taxsavo can help you understand the compliances and help them completed too.
COMPANY’S ANNUAL RETURN
It is mandatory for every company incorporated in India whether public or private to file the various e-Forms along with the necessary documents with the Registrar of Companies.
Annual filing of the company includes all the documentation related to the filing of financial statements (AOC-4)and Annual return (MGT-7) which consists of information that includes the Financial Statements of the company, Certifications(if any) Registered Office Address, Shares and Debenture details, Register of Members, Debt details and information about the Management of the Company. The annual return would also disclose the shareholdings structure of the Company, changes in Directorship and details of the transfer of securities.
Taxsavo can help you file your Company’s annual ROC Compliances at very reasonable fees in quick time
A Private limited company can officially close their company by filing form STK-2. It can be even filed if the annual returns are not completed by the company given the company didn't have any transactions. The approval time for closure raises from 6 months to 12 months depending upon the no of cases pending at different ROCs.
A LLP can also file for closure by filing Form 24. In case of LLP, all the returns ( Form 8 and Form 11) should be filed till the date of application for closure.
We at Taxsavo can help companies and LLP get them closed at ease with our experts.
REMOVAL OF DISQUALIFICATION
A director in India can be disqualified by ROC u/s 164(2) for 5 years if he/she has not filed the annual ROC Returns ( AOC4 & MGT7) for his/her private limited company. Once the disqualification happens, the only legal way to restore the DIN is by filing a writ petition in high court and getting the approval from them.
We at Taxsavo do remove the disqualification of directors through the help of our expert lawyers within 30-45 days
The procedure of ROC Filing:
- Maintaining Book of Accounts
- Preparing Financial Statements of the Company
- Appointing Auditor for the Company
- Statutory Audit of Private Limited Company Financial Statement
- Conducting Annual General Meeting
- Annual Filing of Company
There are several compliances that a company has to fulfill. Like filing VAT, Excise or Service Tax Returns if anyone is registered under any tax. Compliances like Change in Director/Auditor/Address have to be filed to ROC within stipulated time if there are such events happening in the company. TDS Returns have to be filed quarterly as per CBDT norms.
The fees ranges differently from service to service. You can call to our support to know the fees as per your case.
Client sends us his bank statements and his transaction details through mail and one of our experts feed them to the accounting software. We provide client the data with the latest balance sheet and Profit & Loss account whenever he/she wants. We will also provide the updated ledgers and stock statements, if any.
The Ministry of Corporate Affairs has some predefined additional fees which are required to be paid when compliances are filed late. The fees are calculated on monthly basis. If there is no response from the Company from long time, the department might struck off the name of organization from its list.