Introduction to Leading Private Limited for Annual Filing Services
A Private Limited Company, essentially, is a business entity, split up into shares owned by its members. This means it is protected by limited liability. However, the company is subject to laws and regulations. These include a requirement to file Income Tax returns every year. Similarly, it is required to maintain and update its statutory registers. It is also required to prepare its books of accounts and get them audited.
There are a number of different companies that need to be carried out, and even though they may not be as exciting as other corporate functions, they are crucial. Failure to perform any of these is not only illegal, but can lead to penalties of varying degrees. Hence, it's a good idea to hire a professional to handle these aspects of your business. Moreover, there are many other benefits of enlisting the services of an experienced and professional firm.
First of all, a Private Limited Company must hold a yearly General Meeting, or AGM. Similarly, its directors must file a form MBP-1 at the first board meeting. The minutes of this meeting must be properly recorded. At least one-third of the directors must attend the meeting.
The other must-do is to file a statement of financial position in the form of an auditor's report along with a Financial Statement. In addition to this, a Private Limited Company must complete an annual return in the form of a form MGT-7. The annual return is required to be filed within 60 days of the AGM.
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