Finalise your Books of Account
Every company is obligated under section 128 of The Companies Act to prepare and keep at its registered office proper books of account. At the end of the FY the financial statement is prepared in form of Balance Sheet and Profit & Loss A/c.
Prepare Computation of Income Tax
After finalisation of the account, a computation of income tax is prepared as per the provisions of the income tax act, after taking credit of TDS and advance tax already deposited. The end result of the computation is either tax payable or refund.
Pay Income Tax & File ITR
Pay Income tax for the financial year in challan 280 and file an Income Tax Return in Form Number ITR-V. The due date of filing the Company Income Tax Return is 30th September. Thus for the FY 2018-19 the due date is 30th September 2019. Digital Signature is mandatory for ITR.
Statutory Audit of the Company
The Balance Sheet & Profit and Loss Account of the company is audited by the Statutory Auditor of the company. The auditor in its report has to express his independent opinion whether the books of accounts of the company reflects the true and fair view of its state of affairs.
Notice of AGM & Director Report
The annual general meeting (AGM) is held within 180 Days of the end of the FY. However, for a newly incorporated company the first AGM can be held upto 31st December. For the purpose of AGM A notice and directors report is drafted as per the Companies Act, 2013.
File ADT-1 ROC Form after AGM
One of the main purposes of the AGM is to appoint or reappoint statutory auditor of the company for the next audit period. The decision taken in AGM relating to appointment of auditor of the company is reported in Form ADT-1 within 15 days of the conclusion of AGM for the company.
File Financial Statement in Form AOC-4
The annual financial statement report of the company is filed with the ROC within 30 days of the AGM. The Balance Sheet, Profit and Loss Account and Auditors Report is filed in form AOC-4 with prescribed ROC Filing Fee. The late filing is allowed with an additional fee of Rs. 100 for each day of delay.
File Annual Return of Company in MGT-7
Within 60 days of the AGM, the company's annual return filed in Form MGT-7. This is an annual report to the ROC about overall corporate standing of the company with details of changes of directors and shareholding details. The late filing is allowed with an additional fee of Rs. 100 for each day of delay.