Company Act Annual filling

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*Government fee on actual

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Need for Mandatory Compliances

Company Act Annual Filling Taxreturnwala

Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern.
tax audit
A tax audit is an examination of an organization’s or individual’s tax return. Each year when tax season rolls around, the Internal Revenue Service, as well as state departments of taxation, kicks into overdrive to meet with the onslaught of tax filings.
statuary audit
The term “statutory auditor” refers to an external auditor whose appointment is mandated by law. A “statutory audit” is a legally required review of the accuracy of a company’s or government’s financial records.

Annual Filing

Company Act Annual Filling Compliance
The Companies Act 2013 states that every company shall hold an annual general meeting in each financial year and the gap between two AGMs shall not be more than 15 months and financial Statement shall lay in AGMs of that financial year.
A copy of financial statement including consolidated financial statement if any ,which has been adopted at AGMs shall be filed with ROC in e-form AOC-4 within 30 days of date of AGMs .

Further every Company will file its Annual Return i.e. e-form MGT-7 within 60 days of holding of Annual General Meeting or if AGM is not held for any reason then form must be filed along with reason for not holding it . Annual Return will be for the period 1st April to 31st March. Every Listed Companies or a company having paid up Share capital of minimum 10 crore or turnover of minimum 50 crore shall be certified by Practicing Company Secretary, and the certificate shall be in form MGT-8. Moreover MGT-8 is required to be attached in MGT-7.

What if you don’t do the Mandatory Filings?

Penalty for Company:

1,000/- for everyday till default continue upto a maximum of 10 lakh

Penalty For Defaulting Director:

Jail that may extend to 6 months or fine of 1 lakh that may extend to 5 lakh

Company’s Act