setindiabiz

COMPANY COMPLIANCE

Being a legal entity, every company has to follow the regulatory compliance requirements of the Companies Act. These are annual returns to ROC and general compliance of the corporate laws.

COMPANY COMPLIANCE

COMPANY COMPLIANCE

A company or an LLP regulated by the provisions of the companies act, 2013 or the LLP Act, 2009 respectively, and the rules framed thereunder. The governing statute prescribes specific compliance requirements which are applicable even if the company/LLP is yet to commence its business or is in the inactive state. You are required to comply with them within time; else there are penal consequences for the company as well as its key managerial personnel. Apart from the regular maintenance of statutory records and registers, every change in the company, such as name change, address change or change is directorship etc.; can be done only by following a set of rules and regulations. After the end of the financial year, every company and LLP is under an obligation to file an annual return disclosing significant changes in the company and another report with the audited financial statement of the company. The primary responsibility of compliance is on the soldiers of the directors of the company.

COMPANY COMPLIANCE

Mandatory Compliances

Company Changes

Company Changes

The changes in a company like its name or address has to be done in pursuance of the provisions of its articles read with The Companies Act, 2013 and the rules made thereunder. We strongly recommend having a consultation with us before you make decisions to carry any change.

Statutory Audit

Statutory Audit

It is an excise by the auditors of the company or LLP to express their opinion in the form of an audit report about the correctness of accounting of the company. All companies are required to get its audit done; However, in case of LLP, there is relaxation until capital of 25 lac or turnover of 40 lac.

Company Annual Compliance

Company Annual Compliance

As a legal entity, a company must get its financial statement audited by the auditor and adopt the same in its AGM. Post conduct of AGN an annual report and the financial statement are submitted to the ROC. The returns with the ROC need to be filed within its due date to avoid heavy penalty.

LLP Changes

LLP Changes

The LLP Agreement primarily governs the conduct of LLP, however within the ambits of The LLP Act, 2009 and rules made thereunder. Any change in the LLP constitution, its partners, address or the name, can be done by the partners in the majority, however with prior approval of ROC.

LLP Annual Compliance

LLP Annual Compliance

Like a company, an LLP is not required to get audited unless the turnover exceeds 40 lac or its capital is more than 25 Lac. However, it has to file Income Tax Return and submit its annual return to the ROC in Form 11 and file a statement of solvency and its financial statement in Form-8

Post Co. Incorporation Compliance

Post Co. Incorporation Compliance

With the issuance of the certificate of Incorporation, a legal entity in the form of the company comes into being. Immediately after the incorporation, the first board meeting must take place to adopt requisite resolutions, for Issue of Shares and Payment of stamp duty to state gov & appointment of first auditors.

Post LLP Incorporation Compliance

Post LLP Incorporation Compliance

For a startup starting their venture as LLP, the legal compliance and reporting requirement does not end at the incorporation of your LLP; instead, it begins from there. There are some other registrations like shops and establishment, professional tax, GST registration, activity-based licenses etc. is required. Team SETINDIABIZ shall be assisting you with the necessary compliance after LLP Incorporation

Closure of LLP

Closure of LLP

For a startup starting their venture as LLP, the legal compliance and reporting requirement does not end at the incorporation of your LLP; instead, it begins from there. There are some other registrations like shops and establishment, professional tax, GST registration, activity-based licenses etc. is required.

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Lotte Korea
LEI
PEC
Zopper
Windlass
Trux
Testbook
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Porter
Pepperfry
New Prince Management
MAC Hotels Limited
Indian Post Payment Bank
IBL
GPX India
Innovaccer
Docquity
Carwale

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Jayanta Das

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