Statutory Records and Registers
- Maintenance of Statutory Registers
It is the requirement of the Companies Act 2013 that all companies maintain up-to-date Statutory Records and keep them at the Registered Office of the Company. Statutory Registers can be maintained in electronic format also. Certain guidelines under Companies Act are required to be followed for the maintenance of the registers and records in electronic format. For more information, visit this https://bsamrishindia.com/maintenance-of-statutory-records-in-electronic-format/
- Monthly and Annual Book- Keeping
Bookkeeping is the recording of financial transactions, and is part of process of accounting in business. It includes maintaining company’s registers and records and preparing its financial statements and reports. It is concerned with ensuring that records are accurate, up-to-date and comprehensive.
We aim to provide high quality bookkeeping services for our clients. We offer both monthly and annual bookkeeping packages, and our flexible and affordable services will definitely assist you in your business!
In simple words, minutes are the instant written record of a meeting. They typically describe the events of the meeting, starting with a list of attendees, a statement of the issues considered by the participants, and related responses or decisions for the issues.
All the provisions relating to minutes are basically contained under Sections 118, 119 & 120 of Companies Act 2013 and in Rules 25 to 30 of the Companies (Management and Administration) Rules, 2014.
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- Annual Filing and Returns
As a part of Annual E-filing, Companies incorporated under the Companies Act, 2013 are required to e-file the following documents with the Registrar of Companies (ROC).
|| Balance -Sheet
|| Profit & Loss Account
|| Annual Return
XBRL Conversions: – Extensible Business Reporting Language (XBRL) means a standardized language for communication in electronic form to express report or file financial information by Companies. The class of companies as may be notified by the Central Government from time to time shall mandatorily file their Financial Statements in XBRL Format.
Income Tax Returns: – Government of India levies taxes on Indian sources of income as well as the foreign source income of its residents, subject to tax treaty and other reliefs.
Income generated by a company incorporated in India, is liable to pay tax at the rate of 30% whereas after the various deductions and other tax advantages given by the legislation the effective rate of tax will be approx. 20%.