Every Company incorporated in India has to mandatorily file necessary documents with the Ministry of Corporate Affairs. Yearly filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, profit and loss account and annual return i.e. shareholding pattern. Company’s mission and history and summary of the Company’s achievements in the past year are recorded in the report which includes research advances, market share gains or honors awarded to the Company or its employees. Annual report provides financial details of the Company that serves as marketing tool for your Company. It shows the financial track record of the Company and record of the growth of the Company in past years is shown. At ebizfiling, we have separate wing of experts handling matters for Company Annual Filing, providing help at every single stage of the process.
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What is Annual Return Filing of COMPANY?
All Companies are under obligation to maintain the annual accounts which should reflect genuine and authentic information/views of its state and affairs. If even the COMPANY does not do any business in the market still it has to comply with the statutory requirement of Annual Return, profit, Balance Sheet and Income Tax Return every year. The fee depends on the capital of the Company.
Is Annual Return needed to be filed by a COMPANY?
Every COMPANY needs to file an annual return. The annual return is also available for public inspection once payment of prescribed fees is made to the Registrar.
What are the Audit requirements under COMPANY Act?
It is mandatory irrespective of capital or turnover of the Company.
Who files the Annual Return?
The Annual return can be submitted by any of its director but it shall be duly signed by both the directors of the COMPANY and by the Manager or COMPANY Secretary. There are certain cases when there is no Manager/ CS in a COMPANY in such situations signature of both the directors is compulsory.
What do you mean by Financial Statement?
All the COMPANY’S registered with MCA is required to file ‘Balance Sheet and Profit & Loss Statement with Directors’ Report and Auditors’ Report’ in an appropriate format of COMPANY which should contain declaration on the state of solvency of the COMPANY. This is to be done by the directors.
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