Subsequent to incorporation, a Limited Liability Partnership or LLP is required to file its annual return, statement of accounts and income tax return with government to comply with law. Irrespective of business and turnover, Limited Liability Partnership firm is required to comply with the statutory requirement such as filing of Annual Return, Balance Sheet, Profit … Read More » "ROC and tax filing due dates for a Limited Liability Partnership – LLP"
Dormant companies do have certain legal compliance and reporting obligations to fulfill for maintaining the company on the official register. Please read our earlier article to know how to get status of Dormant Company and its legal compliance requirements as per companies act 2013. In this article, we will discuss how a dormant company can … Read More » "How a dormant company can get status as active"
In our last article we have discussed how a company can get status dormant. In this article we will be discussing legal compliance under Companies Act 2013 that a company has to comply after getting status dormant. After analyzing Companies Act 2013, we found out that a dormant company has to comply following things after … Read More » "Legal Compliance for a dormant company and role of auditor"
In certain circumstances, a company can change its status from Active to Dormant. As per Companies act 2013, a dormant company is one that has no significant accounting transactions in the last two financial years or annual returns and financial statements for last two years has not been filed with ROC. These types of companies are … Read More » "How to get status of Dormant Company – Companies Act 2013"
A private limited company can change its name for a number of reasons like change in ownership, object clause, re-branding etc. Whatever is the reason for change in name of your private limited company, you need to follow below procedures to get it done. In order to change company name, e-form 1 is required to … Read More » "How to change the name of a private limited company"
One person company or OPC is not a new concept. It’s widely used all over the world including in countries like Pakistan, china, Singapore and US. In India OPC concept has been introduced with the new Companies act 2013. Section 2(62) of Companies Act 2013, has defined one person company. As per this section, One … Read More » "Who can set up One Person Company or OPC in India"
Incorporating a company refers to the process of making a private limited or public limited or OPC, which will be a separate entity from the owner. Here are 5 reason why incorporating a company is beneficial; Personal Asset Protection or Limited Liability In case of proprietorship and partnership form of business, the owner may be … Read More » "5 reasons why you should incorporate a company"
In India, Private Limited Companies are generally owned by family members or a small group of persons and not open to public for ownership. The general accepted rule is that any company which is not a public company is known as a private company. The directors and shareholders in a private limited company are frequently … Read More » "Difference between a private and public limited company"
As per Section 153 of Companies Act 2013, every individual intending to be appointed as director of a company shall make an application for allotment of Director Identification Number or DIN to the central government in e-form DIR-3. One person should obtain one Director Identification Number or DIN. In certain cases like death of the … Read More » "How to surrender or cancel Director identification number or DIN"
Transmission of share means transfer of title to shares by operation of law. This type of situation arises when a shareholder died, inheritance, bankruptcy, marriage and succession. On death of the shareholder, legal heirs are required to submit a request letter supported by an attested copy of the death certificate of the deceased shareholder and … Read More » "Transmission of Shares in case of death of shareholder – As per companies act 2013"