Annual filing by companies incorporated in India

All companies registered in India like private limited company, one person company, limited company, and section 8 company must do Annual filing and 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 …

Difference Between Statutory Audit and Tax Audit

Audit means an examination of books of accounts, statutory records, documents and vouchers conducted with the purpose of establishing the fact that the accounting records presents a true and fair view of the Organization.  It is conducted by a party which is independent of that organization. There are various kinds of audit being conducted under …

Mandatory Compliances for a Private Limited Company in India

Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated. Managing the day to day operations of your business along with complying the corporate laws can be little taxing for any entrepreneur. Hence, it is essential to …

How to convert Proprietorship to a Private Limited Company

Many small business owners start out as sole proprietors of their firms. Sole proprietorship is the most common and simplest form of business structure. This form of business has its own advantages: easy formation, limited paperwork, small capital requirement, and minimum compliance requirements. As the business starts spreading its roots, the next logical move would …

Company Registration for NRIs and Foreign Nationals in India

Private Limited Company is considered to be the most ideal form of business for NRIs, foreign nationals and for foreign entities who want to set up business in India. According to FEMA guidelines, Foreign Direct Investment (FDI) is not allowed in other types of businesses like Proprietorship, Partnership Firm and One Person Company. Though investment …

What is Statutory Audit

Audits are primarily aimed at protecting a company’s shareholders. They help investors gain confidence in a company and reflect the company’s true business health and performance. A fast-paced business environment combined with the need to be in sync with the global standards has raised the performance bar for companies and brought in high-quality statutory requirements …