Annual Company Compliance for Pvt Ltd, LLP, Nidhi, Public limited , Partnership & Proprietorship Companies.
- January 22, 2016
- Posted by: admin
- Category: Funding trends, Uncategorized
The Companies Act recommends certain base compliance which is required to go along by each newly consolidated company. A company that has been incorporated in India must ensure compliance with the Indian Companies Act.
All companies in India like pvt ltd companies, llp companies, Opc Companies have to submit their income tax return each year.Companies must conduct an Annual General Meeting at the end of each financial year and file an annual return with the Ministry of Corporate Affair to maintain compliance. And if you are a newly formed company the Annual General Meeting should be held within 18 months from date of incorporation or 9 months from the date of closing of financial year, whichever is earlier.
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
- Increased profits:
The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
- Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
- Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.