Company is a legal entity made up of association of people carrying on a commercial or industrial enterprise. Opening up and running a company is not everyones cup of tea .Several things needs to be kept mind while and after setting up a company. People need to obtain many documents, permits and go through several registrations. Company formation requires several taxes and other filings.
It is most important to keep a record of all these events with all the certificates and acknowledgments slips are to be kept carefully. It acts as solid evidence and helps you to file certain documents. This procedure is one of the most difficult tasks. All these documentations are carried out under The Companies Act,2013. This is the act required the same act, you are required to go through company annual filing.
Annual filing includes the filing of certain documents with the Registrar of Companies. Documents included are balance sheet, profit and loss account, annual return and compliance certificate. These documents are filed by filing some forms which can be filed online also. It ensures that you are keeping records of all the important happenings of your company properly. It helps you to run your company smoothly and point out any possible loopholes or mistakes. Detailed guidelines of annual filing are available on the MCA web portal.
Procedure for annual return filing
- Prepare a financial statement of Company.
- Appoint and Auditor for Company.
- Conduct annual general meeting of the company
- File annual with MCA
Company Annual Filing Importance
Company will face problems if a company does not annually file. Annual Return provides a detailed insight into the health and profitability of a company. It is a way to keep the workings of the company transparent.
- One of the factors used to decide whether the company will receive additional or any funding at all.
- Annual filing helps to decide the market price of the shares of the company in case of listed or on a stock exchange.
- In case the company is going in a loss it helps to figure out what the next best action should be and the direction the company.
Guidelines of annual filing are available on the web portal of MCA
DIN(Director Identification Number) and DSC (Digital Signature Certificate) are required to complete the company annual filing. Annual filing can create some serious issues for you. It ranges from a fine to a victim of a bad image which will ultimately cost you, your investors and customers. This is very important to file all the documents on time and in order. Guidelines should be read properly. Legal advice is very much suggested. You need to verify all the documents and then only can you expect a successful annual filing.
For more information about Annual Compliance filing visit Registrationwala.com