Post Incorporation Compliances
With the issuance of the certificate of Incorporation, a legal entity in the form of the company comes into being. Immediately after the incorporation, the first board meeting must take place to adopt requisite resolutions, for Issue of Shares and Payment of stamp duty to state gov & appointment of first auditors and filing of INC-20A
The changes in a company like its name or address has to be done in pursuance of the provisions of its articles read with The Companies Act, 2013 and the rules made thereunder. We strongly recommend having a consultation with us before you make decisions to carry any change.
The LLP Agreement primarily governs the conduct of LLP, however within the ambits of The LLP Act, 2009 and rules made thereunder. Any change in the LLP constitution, its partners, address or the name, can be done by the partners in the majority, however with prior approval of ROC.
Company Annual Compliance
As a legal entity, a company must get its financial statement audited by the auditor and adopt the same in its AGM. Post conduct of AGN an annual report and the financial statement are submitted to the ROC. The returns with the ROC need to be filed within its due date to avoid heavy penalty.
LLP Annual Compliance
Like a company, an LLP is not required to get audited unless the turnover exceeds 40 lac or its capital is more than 25 Lac. However, it has to file Income Tax Return and submit its annual return to the ROC in Form 11 and file a statement of solvency and its financial statement in Form-8