by Prashant Sharma, Founder, Infinilex Consultancy Private Limited
Here is a list of key compliances that every company should be cognisant of:
✅ Annual Return Filing: Filing returns with the Registrar of Companies annually is a crucial compliance for any company in India. The Annual Filings must be filed after the conclusion of the AGM and must be accompanied by the financial statements of the company.
✅ Board Meetings: A company must conduct a minimum of four board meetings annually with no two meetings having a gap of more than 120 days.
✅ AGM: Hold an Annual General Meeting with all the shareholders within six months from the end of the financial year.
✅ Statutory Registers Maintenance: Keep updated registers, including those of Members of the company, Directors, and key contracts that are to be reported in the Annual Return Filing.
✅ GST Compliance: When registered under GST, monthly, quarterly, and annual returns should be on your radar constantly as non-filing attracts hefty penalties and prosecution in certain cases of non-compliance.
📌 Remember, adherence to these compliance measures is more than a legal obligation. It’s a testament to a company’s commitment to transparency, credibility, and good governance and ensures that no fines, penalties or costs are attracted owing to non-compliance.
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