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COMPANY COMPLIANCE

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In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Compliances must be fulfilled by every Private or Public Company as per Companies Act, 2013. – PowerPoint PPT presentation

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Title: COMPANY COMPLIANCE


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MONETIC ALL RIGHTS RESERVED 2016
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MUST BE COMPLIED BY PRIVATE LIMITED COMPANIES AS
PER COMPANIES ACT 2013
MONETIC ALL RIGHTS RESERVED 2016
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COMPLIANCES
  • Appointment of Auditor
  • Board and Annual General Meeting
  • Preparation of Annual Financial Statements
  • Filing Annual Return
  • Maintaining Statutory Records
  • Tax Compliance
  • Statutory Audit
  • Mandatory Compliances
  • Event Based Compliances
  • Share Certificate Issuance
  • Any change in Companys registered office
  • Any change in Management
  • Any change in business(object)of the Company
  • Any change in capital of the Company

MONETIC ALL RIGHTS RESERVED 2016
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Mandatory Compliances
  • Appointment of Auditor
  • According to Companies Act 2013-
  • The first auditor of the company shall be
    appointed by the Board within 30 days of
    Incorporation otherwise within 90 days in Extra
    Ordinary General Meeting.
  • Auditor shall be appointed
  • In case of individual- for not more than 1 term
    of 5 years and in case of Audit Firm- for not
    more than 2 terms of 5 years.
  • Appointment has to be confirmed by members at
    every Annual General Meeting.
  • E- Form ADT-1 shall be filed with ROC within 15
    days of such appointment.
  • Board and Annual General Meeting
  • According to Companies Act 2013-
  • First Board Meeting to be held within 30 days of
    incorporation and atleast 4 Board Meeting must be
    held every year and the time gap between 2 Board
    Meetings- should not be more than 120 days.
    Notice of Board Meeting shall be given atleast 7
    days in advance through electronic mode.
  • Annual General Meeting must be held each year
    apart from other meetings and the first Annual
    General Meeting must be held within a period of 9
    months from closing of its first financial year
    otherwise in other cases within the period of 6
    months.

MONETIC ALL RIGHTS RESERVED 2016
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  • Preparation of Annual Financial Statements
  • According to Companies Act,2013
  • It is a report created annually that
    describes financial position of the Company.
    Financial Statements includes the Balance Sheet,
    statement of Profit Loss, Statement of retained
    earnings ,Statement of Cash Flow and Statement of
    change in Equity. It is the most important step
    in the Accounting cycle because it represents the
    purpose of Financial Accounting.
  • Filing Annual Return
  • According to Companies Act 2013-
  • Annual Return shall be prepared by the
    Company in Form No.MGT-7 which contains such
    particulars as on the close of the financial year
    and file a copy of the same with the Registrar.

MONETIC ALL RIGHTS RESERVED 2016
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  • Maintaining statutory records
  • According to Companies Act,2013
  • Following are some of the documents and
    information need to be maintained by the Company
    at its registered office-
  • MOA and AOA
  • Register of members
  • Register of Renewed Duplicate Share
    Certificate.
  • Register of Charge.
  • Tax Compliance
  • According to Companies Act,2013
  • Companies must file annual corporate tax returns
    with the Income Tax Department under ITR-6 under
    Income Tax Act,1961
  • Companies that maintain international
    transactions as well as domestic transactions
    with related parties must file an annual transfer
    pricing audit.

MONETIC ALL RIGHTS RESERVED 2016
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  • Statutory Audit
  • According to Companies Act,2013
  • All Companies are required to get their
    books of accounts audited. The report need to be
    prepared as per the accounting standards and
    according to section 143 of the Companies Act,
    2013.

MONETIC ALL RIGHTS RESERVED 2016
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  • Event Based Compliances
  • Share Certificate Issuance
  • According to Companies Act, 2013
  • Share Certificate shall be issued and
    delivered by the Company to all subscribers to
    the memorandum of association within 2 months
    from the date of incorporation.
  • Any Change in Companys Registered office
  • According to Companies Act 2013
  • For change of Companys Registered office, a
    resolution is required to be passed in Board
  • Meeting and intimate the Registrar of
    Companies for the same by filing e-Form INC-22
    within 15
  • days from the date of such change.
  • Verification of Registered office shall be
    filed in e- Form INC-22 along with the prescribed
    fee.
  • Any Change in Management
  • According to Companies Act,2013
  • Company can change its director in case of
    disqualification, removal, death, insolvency and
  • unsound mind. E-Form DIR-12 shall be filed
    with ROC within 30 days from the date of such
  • change.
  • For resignation of director e-Form DIR-11
    shall be filed within 30 days of such change.

MONETIC ALL RIGHTS RESERVED 2016
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  • Any change in business(object) of the Company
  • According to Companies ACT,2013
  • Change in object clause of the Company requires
    consent of members by passing
  • special resolution. Following is the procedure
    for such change-
  • Calling Board Meeting
  • Issue notice of Extra Ordinary General Meeting
    to all members, directors and auditors of the
    Company
  • Holding General Meeting
  • Filing with ROC
  • Any change in capital of the Company
  • According to Companies Act, 2013
  • The Authorised Capital of the Company can be
    increased or decreased at anytime with
  • the approval of members or shareholders.
    Following is the procedure for such change-
  • It should be permitted by Articles of
    Association.
  • It should be approved by Board of Directors.
  • Fix day, time and venue for holding Extra
    Ordinary General Meeting.
  • Issue notice to shareholders, directors and
    auditors for holding such meeting.

MONETIC ALL RIGHTS RESERVED 2016
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  • Address- 460, 3rd Floor, Kohat Enclave,
  • Pitampura, New Delhi -110034
  • Mobile 91-9999962751
  • Telephone 9111-45547637
  • Email ID- info_at_monetic.in
  • Website- www.monetic.in
  • www.registrationwala.com

MONETIC ALL RIGHTS RESERVED 2016
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MONETIC ALL RIGHTS RESERVED 2016
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