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ROC Compliance for a Company

Today we will discuss ROC Compliance for a Company, what are the compliance need to be done by the company. who will do the compliance and rate for the compliance.

Various ROC Compliance For a Company –

In this we will discuss the ROC compliance need to be done by the company regularly as on the due date on when any event occur.

 1.1     Draft the Notice, Agenda, minutes & attendance sheets of the meetings of the Board of Directors and the Members of the Company.

1.2     Maintain the required registers and records under the Companies Act, including-

  1. Register of Members
  2. Register of Share Transfer
  3. Register of Directors
  4. Register of Directors Share Holding
  5. Register of Concerns in which Directors are interested
  6. Register of Charges
  7. Register of Share Application & Allotment
  8. Register of Loan advance made / taken
  9. Register of Investments
  10. Register of Balance Sheet
  11. Register of Disclosure of Interest

1.3    Preparation  and filing with the office of the Registrar of Companies and others

(a)      Required Resolutions

(b)      Annual Return

(c)      Annual Accounts i.e. Balance sheet, P & L, its notes,auditor report

(d)      Issue of Share Certificates

(e)      Remuneration to Directors

(f)      Transfer of Shares

1.4     To  Draft board and members resolutions for various purpose like

(a)      Opening of bank account

(b)      Modification in operation of bank account

(c)      Availing various credit facilities from bank

(d)      Any registration required under income tax, sales tax,

Service tax, vat, and any other department

(e)      Remuneration to Directors

(f)      Transfer of Shares

(g)      Allotment of shares

(h)      Increase of authorized capita

(I)      appointment and resignation of directors

(j)      All other matters covered under companies act

1.5     To Respond the  queries from the Registrar of Companies, other concerned Regulators.

  • To make required documents for disclosure of interest u/s 184 and declaration u/s 164 of the Companies act.
  • To make necessary compliance for appointment or change of statutory auditor every year.
  • To generally advice in all aspects of Companies Act, 2013 & all amendments thereof.
  • To conduct secretarial audit generally.
  • To coordinate with representative of company and auditor for any concerned matters and assisting the auditor for internal and statutory audit.

Other One Time Compliance –

Event based assignment like name change, object change, director change, share transfer.

Who can do ROC Compliance –

An Company Secretary can do this compliance.

Fees for the ROC Compliance

Professional Fees for the Regular compliance will be 7,500- 10,000. For one time compliance will differ from work to work.

In our opinion kindly do the ROC Compliance on time to avoid the penalty.

Rotation of Auditors in Company

1)  Whether Rotation of Auditors is compulsory is required in all private ltd companies or is it based on paid up capital.

(a) All unlisted public companies having paid up share capital of rupees 10 crore or more;
(b) All private limited companies having paid up share capital of rupees 20 crore or more;
 
(c) If not meet the above category , but having public borrowings from financial institutions, banks or public deposits of rupees 50 crores or more.

2) Secretarial Audit in which type of companies required.

As per section 204 of the Companies Act, 2013 read with  following companies are required to obtain ‘Secretarial Audit Report’ form independent practicing company secretary;
 
(1) All listed company
 
(2) All public company having a paid up share capital of 50 Crore rupees or more; or
 
(3) All public company having a turnover of 250 Crore rupees or more.
 
Secretarial Audit is also mandatory to a private company which is a subsidiary of a public company, and which falls under the prescribed class of companies.

Requirement of Key Managerial person like CFO/ Company Secretary, which type of companies.

As per Section 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following class of Companies, namely
 
1. Every listed company, and
 
2. Every other public company having paid up share capital of Rs. 10 Crores or more shall have the following whole time key managerial personnel,—
 
(i) Managing Director, or Chief Executive Officer or manager and in their absence, a whole time
director;
 
(ii) Company secretary; and
 
(iii) Chief Financial Officer
 
Further, as per recently notified Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a company other than a company which is required to appoint a whole time key managerial personnel as discussed above and which is having paid up share capital of Rs. 5 Crores or more shall have a whole time Company Secretary.

Compliance to be done by LLP

 

COMPLIANCE REQUIRED TO COMPLIED BY YOUR LLP THROUGH DESIGNATED PARTNERS
COMPLIANCE REQUIRED UNDER ACT AND COMPLIANCE NATURE
FORM TO BE FILED
FINANCIAL YEAR ENDED ON
COMPLIANCE DUE DATE
       
ANNUAL RETURN AS PRESCRIBED BY LLP ACT, 2008
Form 11
31.03.2016
30th May, 2016
 
 
 
 
STATEMENT OF ACCOUNT AND SOLVENCY AS PRESCRIBED BY LLP ACT, 2008
Form 8
31.03.2016
30th October, 2016
 
 
 
 
AUDIT OF FINANCIAL STATEMENT AS PRESCRIBED BY LLP ACT, 2008
NA
31.03.2016
If Authorised capital exceed Rs.25 Lakhs or Turnover exceed Rs.40 Lakhs
 
 
 
 
INCOME TAX RETURN – INCOME TAX ACT, 1961
ITR 5
31.3.2016
31st July, 2016 Or (30th Sept, 2016 If Tax Audit Is Required)
 
 
 
 
TAX AUDIT REPORT BY CHARTERED ACCOUNTANT
FORM 3CD
31.03.2016
If The Turnover Exceed Rs.1Cr. or Receipts of Professional exceed Rs.25 lakhs in FY 2015-16
 
 
 
 
MAINTAINACE OF BOOKS OF ACCOUNT – INCOME TAX ACT, 1961
NA
31.03.2016
As Prescribed Under Section44AA of Income Tax Act, 1961
 
 
 
 
ANY OTHER COMPLIANCE DEPEND UPON NATURE OF BUSINESS ACTIVITIES PERFORMED BY LLP & REQUIRED BY APPLICABLE ACT
NA
 
For Example – Service Tax Compliance for Service Provider subject to applicability etc.
 

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