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Annual Compliance Package of Companies

About of Service

  1. Annual Return Filing (Form MGT-7):

    • Description: The Annual Return provides detailed information about the company’s directors, shareholders, registered office, shareholding pattern, changes in directorship, and other key details.
    • Due Date: Within 60 days from the conclusion of the Annual General Meeting (AGM).

  2. Financial Statements (Form AOC-4):

    • Description: The financial statements include the balance sheet, profit & loss account, cash flow statement, and any other financial data required by law. These statements must be filed along with the auditor's report.
    • Due Date: Within 30 days from the conclusion of the AGM.

  3. Annual General Meeting (AGM):

    • Description: Assistance in organizing and conducting the AGM, including drafting the minutes of the meeting, resolutions passed, and ensuring proper documentation.
    • Due Date: The AGM must be held within six months from the end of the financial year.

  4. Board Meetings:

    • Description: Scheduling, organizing, and documenting board meetings, including preparing the agenda, minutes, and resolutions.
    • Frequency: A minimum of four board meetings a year, with a gap of not more than 120 days between two consecutive meetings.

  5. Director KYC (DIR-3 KYC):

    • Description: Filing of the DIR-3 KYC form for all directors to ensure their details are updated annually.
    • Due Date: 30th September every year.

  6. Form DPT-3:

    • Description: Filing of annual return for outstanding receipts of money or loans by a company.
    • Due Date: 30th June every year.

  7. Form MSME-1:

    • Description: Filing of half-yearly returns with the Registrar of Companies (RoC) for outstanding payments to Micro or Small Enterprises.
    • Due Dates: 30th April (for October to March period) and 31st October (for April to September period).

  8. Income Tax Return Filing:

    • Description: Preparation and filing of the company’s income tax return, ensuring accurate computation of taxable income and tax liability.
    • Due Date: 30th September every year.

  9. GST Return Filing:

    • Description: Preparation and filing of Goods and Services Tax (GST) returns, if applicable.
    • Frequency: Monthly/Quarterly (based on turnover) and annually.

  10. Maintenance of Statutory Registers:

    • Description: Updating and maintaining statutory registers such as the Register of Members, Register of Directors and Key Managerial Personnel, Register of Charges, and others as required under the Companies Act.

  11. Compliance Management:

    • Description: Regular reminders and updates on compliance deadlines. Assistance with any additional filings or compliance requirements specified by regulatory authorities.

  12. Consultation and Advisory Services:

    • Description: Providing ongoing consultation and advisory services related to company compliance, addressing queries or issues related to regulatory compliance and filing requirements.

Benefits of the Annual Compliance Package

  • Avoidance of Penalties: Ensures timely compliance with statutory deadlines to avoid penalties and legal issues.
  • Regulatory Adherence: Keeps the company in good standing with regulatory authorities by adhering to all applicable laws and regulations.
  • Financial Transparency: Maintains transparency in financial reporting, enhancing the credibility and reliability of the company.
  • Peace of Mind: Provides peace of mind to directors and shareholders by managing all compliance-related activities, allowing them to focus on core business operations.
  • Professional Guidance: Offers expert guidance and support for navigating complex regulatory requirements and ensuring accurate and timely filings.

Conclusion

An Annual Compliance Package for companies is essential for maintaining legal compliance, financial transparency, and good governance. By ensuring all statutory requirements are met on time, companies can avoid penalties and legal issues, maintain a good reputation, and focus on their core business activities. This package is designed to provide comprehensive support and expert guidance, making compliance management easier and more efficient.

Uses and Benefits
  • Annual Return Filing (Form MGT-7): Description: Preparation and filing of the Annual Return, which includes details of the company’s shareholders, directors, and other key information. Due Date: Within 60 days from the conclusion of the Annual General Meeting (AGM).
  • Financial Statements (Form AOC-4): Description: Preparation and filing of the financial statements, including the balance sheet, profit & loss account, and auditor's report. Due Date: Within 30 days from the conclusion of the AGM.
  • Annual General Meeting (AGM): Description: Assistance in organizing and documenting the AGM, including drafting the minutes of the meeting and resolutions passed. Due Date: To be held within six months from the end of the financial year.
  • Board Meetings: Description: Scheduling, organizing, and documenting board meetings, including preparation of agendas, minutes, and resolutions. Frequency: Minimum of four board meetings a year, with a gap of not more than 120 days between two meetings.
  • Director KYC (DIR-3 KYC): Description: Filing of the DIR-3 KYC form for all directors to ensure their details are updated annually. Due Date: 30th September every year.

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Charges Structure & Our Scope of Work

Additional Disclosure

  1. Financial Statements:

    • Submission of audited financial statements, including balance sheet, profit and loss account, and cash flow statement for the financial year.

  2. Income Tax Return Filing:

    • Disclosure of the company's income tax return filing status, including the filing of Income Tax Returns (ITRs), tax audits (if applicable), and payment of taxes.

  3. GST Compliance:

    • Details on GST compliance, including filing of GST returns, payment of taxes, and maintenance of GST records as per GST laws.

  4. Corporate Governance Reports:

    • Disclosure of corporate governance reports, including compliance with provisions of the Companies Act and SEBI regulations (if listed).

  5. Statutory Registers and Minutes:

    • Maintenance and disclosure of statutory registers, minutes of meetings of the board of directors and shareholders, and resolutions passed during the year.

  6. Annual Return Filing:

    • Filing of Annual Return (Form MGT-7) with the Registrar of Companies (RoC), providing details about the company's directors, shareholders, capital structure, and business activities.

  7. Changes in Memorandum and Articles of Association:

    • Disclosure of any changes made to the Memorandum and Articles of Association during the year, including amendments to share capital, management structure, or business objectives.

  8. Compliance Certificates:

    • Obtaining compliance certificates as required under applicable laws, confirming adherence to statutory requirements and regulatory filings.

  9. Tax Deduction at Source (TDS):

    • Details on deduction and deposit of TDS, if applicable, on payments made by the company to vendors, contractors, or employees.

  10. Annual Compliance Checklist:

    • Preparation and disclosure of an annual compliance checklist, ensuring all statutory and regulatory obligations are met during the year.

  11. Legal Opinions and Certifications:

    • Provision of legal opinions and certifications from professionals, validating the completeness and accuracy of the Annual Compliance Package.

Terms & Conditions

Documents & Detail Required

  1. Financial Statements:

    • Balance Sheet: A statement showing the assets, liabilities, and equity of the company as of the end of the financial year.
    • Profit and Loss Account: A statement showing the company's revenues, expenses, and profits or losses for the financial year.
    • Cash Flow Statement: A statement showing the cash inflows and outflows during the financial year.

  2. Audit Report:

    • If applicable based on the company's turnover and nature of business, an audit report prepared by a statutory auditor in accordance with auditing standards.

  3. Annual Return:

    • Form MGT-7: A return containing information about the company's shareholders, directors, and other statutory details as of the end of the financial year.

  4. Board Resolutions:

    • Copies of board resolutions passed during the financial year for various matters such as approving financial statements, dividends, director appointments, etc.

  5. Directors' Report:

    • A report prepared by the Board of Directors highlighting the company's performance, financial position, future prospects, CSR activities (if applicable), etc.

  6. Income Tax Return (ITR):

    • Filing of income tax return along with financial statements and audit report (if applicable) with the Income Tax Department.

  7. Compliance Certificate (if applicable):

    • A certificate signed by the company secretary or a practicing company secretary confirming compliance with all applicable laws and regulations.

  8. Shareholder Meeting Minutes:

    • Minutes of annual general meetings (AGMs) or extraordinary general meetings (EGMs) held during the financial year.

  9. Statutory Registers and Records:

    • Updated registers such as Register of Members, Register of Directors and Key Managerial Personnel, Register of Charges, etc.

  10. Miscellaneous Documents:

    • Any other documents required by specific regulatory authorities or as per the company's Articles of Association and Memorandum of Association.

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OUR REVIEW

FAQ'S

: What is an Annual Compliance Package for companies?

A: An Annual Compliance Package for companies is a comprehensive service that ensures all statutory and regulatory requirements are met throughout the financial year. This includes filing annual returns, preparing financial statements, maintaining statutory records, and providing advisory support.

Why is annual compliance important for a company?

A: Annual compliance is crucial to maintain the legal standing of the company, avoid penalties, ensure transparency in financial reporting, and uphold the company’s credibility with regulatory authorities and stakeholders.

: What documents are required for annual compliance of a company?

A: Key documents include: Form MGT-7 (Annual Return) Form AOC-4 (Financial Statements) Minutes of Annual General Meeting (AGM) and Board Meetings Statutory Registers (e.g., Register of Members, Directors) Income Tax Return GST Returns (if applicable) Director KYC (DIR-3 KYC) Forms DPT-3 and MSME-1 (if applicable)

: What is Form MGT-7 and when should it be filed?

A: Form MGT-7 is the Annual Return of a company, providing detailed information about its shareholders, directors, registered office, and other key details. It must be filed within 60 days from the conclusion of the AGM.

: What is Form AOC-4 and when should it be filed?

A: Form AOC-4 includes the financial statements such as the balance sheet, profit & loss account, and auditor's report. It must be filed within 30 days from the conclusion of the AGM.