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 there under.
Registrar of Companies (ROC) is the designated authority that deals with administration of Companies Act 2013 and it falls under 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 these 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 close of 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. LLP Annual Filing is done through Taxsavo.
FILE 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 and Annual return 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 return in India.
Bookkeeping services are necessary for all businesses to ensure accurate operational / financial information. Such information is required by Management, Regulators, and Investors. Also, it is a legal requirement for any business to maintain an appropriate book of accounts to ensure that all relevant taxes are paid and tax filings are made on time.
Bookkeeping is the process of recording financial transactions of a business in an accounting system and the creation of reports. However, many small businesses do not have complete accounting departments and require external bookkeeping services. Taxsavo can provide your business with bookkeeping services through a network of Business Experts and Chartered Accountants across India.
Accountants may handle more advanced tasks like tax preparation, budget analysis, and investment development. Both Accountants and bookkeepers frequently use advanced financial software to record and track their information.
What are included in Other Compliances?
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.
How does Book Keeping service works?
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.
What are the consequences of not filing Annual Returns on time?
The Ministry of Corporate Affairs have 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.