FinTax Startup Consultant - India's Leading Startup Legal Advisory and Compliance Consultant. Call us for Free Consultation @ +91-7210000745. Our Services - Financial Audit, Tax Filing, GST Return Filing and Compliances, Transaction Advisory, TDS Compliances, ROC Annual Filing, Compliances under various other Registrations and Laws like EPF, ESIC, Professional Tax, Food Licence, etc.
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A. Under Income Tax Act
B. Under the Companies Act 2013
C. Under GST Act
Section 35 provides that every registered person shall keep and maintain, a true and correct account of
We follow the provisions of Companies Act and Apply Accounting Standards (as issued by The Institute of Chartered Accountants of India) wherever applicable for a Private or Public limited company. Financial Statement prepare as per Schedule VI of the Companies Act which is the requirement for Statutory Audit and same is also adopted by Income Tax Law as well.
Prepare Monthly/Quarterly Balance Sheet, Profit and Loss A/c and Cash Flow Statement.
Deliver Accounts Backup time to time.
Deliver Invoices, Ledger, Party Statement time to time.
Preserve Accounts backup soft copy for 8 years
Post incorporation of a company , regular compliances varies as per nature of companies ( One Person Company, Private Limited, Limited Company) and day to day business activities. More or less few mandatory regular compliances every company has to meet with ROC on time throughout the year
Delay comply shall attract penalty upto 12 times of normal fee and Now a days consecutive 3 years non filing likely get chances for strike off by ROC and Directors Disqualifications from all other companies.
Basically there are two type of Compliances in general practice
A. Annual Compliances
Auditors Appointment, Annual Return Filings etc
B. Special Compliances
Changes in Capital, MOA/AOA Amemdment, Registered Address changes, etc