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The Due Diligence Report is a crucial tool for investors in business transactions, ensuring compliance, transparency, and informed decision-making. It involves evaluating a company’s compliance, financial, and legal aspects, documenting findings before contract formalization. Sellers can also participate in this process, focusing on factual, contextual, legal, and financial assessments to avoid post-transaction surprises.
Comprehensive assessment involves various due diligence types.
Examines investment quality, commercial viability, and stakeholders involved.
Examining regulatory complexities and legal implications in corporate transactions.
Inspection of internal controls, audit processes, accounting practices, and tax compliances supports a company's assumptions.
Due diligence journey benefits various aspects:
Verifying information accuracy in investment or transactional negotiations
Identifying flaws in investments, contracts, and transactions to avoid unethical practices.
Acquiring comprehensive facts and details for informed decision-making.
Aligning investment or transaction requirements.
The due diligence process unfolds in three stages:
Phase begins with investor-target company agreement, focusing on document organization and personnel management.
Phase of informed decisions, resulting in Due Diligence Report, outlines company's financial prospects..
This phase involves rectification of non-compliances through dynamic actions, including compounding offenses and negotiating shareholder agreements.
Several crucial components should be included in a due diligence report:
Analyzing ratios and financial indicators for company's overall health.
Examining business strategies and financial planning for sustainability assessment.
Assessing management's competence and reliability to ensure sound leadership.
Examining a company's environmental context, as no business operates in isolation.
Assessing a company's technological capabilities for informed decisions.
Comprehensive analysis of liabilities, legal disputes, and regulatory challenges.
The board must approve a director’s company relocation to their property, submit necessary paperwork, and submit Form INC-22 for the MCA to initiate the change.
The due diligence procedure unfolds through several steps:
Ministry of Corporate Affairs collects and reviews organisational data.
Gather Ministry of Corporate Affairs website information for company insights.
Examining company's financial records and MCA filings for financial health assessment.
Assessing AoA is crucial for evaluating equity shares and rights.
Companies must maintain crucial registers for verification.
Evaluate financial transactions, bank statements with meticulous attention.
Comprehensive tax assessment for company, ensuring future obligations are accounted for.
A legal audit evaluates company's ongoing activities, lawsuits, and investigations.
The due diligence process unfolds in three stages:
Comprehensive assessment involves various due diligence types.
Company's paid-up capital below Rs. 50 lakhs and annual turnover below Rs. 2 crores.
OPC must have one Indian national as shareholder.
Indian resident shareholder must reside for 180 days annually.
Shareholder must not have incorporated or nominated in any other OPC.
After successful conversion, ensure to:
Apply for a new PAN card with the OPC's name.
Arrange for new stationery with the OPC's name.
Update the company's bank account details.
Inform relevant authorities, such as GST, Income Tax Department, etc., about the change in status.
Keep a copy of the revised MOA and AOA for future reference.
Information provided is for informational purposes and should not be legal advice. Consult a licensed attorney for specific guidance.
Fincto offers a seamless and hassle-free process to register an LLP in India:
Partner partners must obtain Digital Signature Certificate and Director Identification Number from MCA for online filings and transactions.
A meticulously drafted agreement outlines LLP's functioning, adhering to the 2008 Limited Liability Act of 2008.
Partners must file Form 3 with RoC, LLP agreement, and registration documents.
Partners must apply for LLP name reservation with MCA and submit unique RUN-LLP form.
Submit application and declaration for partnership company conversion to LLP through Form FiLLiP, formalizing process.
Successful registration dissolves the partnership company, transferring assets and obligations to a separate legal entity called LLP. The LLP maintains perpetual succession, tax benefits, and may be subject to ongoing legal actions. Existing arrangements and contracts remain valid, and any powers or assignments are transferred to the LLP.
Partner with Fincto for an impeccable ESOP journey:
Evaluate stakeholder readiness for ESOP adoption.
Evaluate ESOP viability through thorough assessment.
Utilize professional valuation services for accurate ESOP pricing.
Seek legal counsel for ESOP complexities.
Explore funding options for ESOP implementation.
Develop a streamlined ESOP operational structure.
Fincto offers seamless, efficient ESOP journey, maximizing workforce potential.
Fincto offers numerous financial management benefits.
Company details: Name, address, head office, branch details, incorporation date, total employee strength.
Business information: Type, nature of activity.
Director/partner details.
Employee details: Basic details, salary, bank account details, PAN card.
Fincto offers Accounting and Book-Keeping services for streamlined, accurate, and strategically aligned financial journeys, enabling businesses to achieve success through efficient financial management.
UAN is essential for seamless PF management. Activate your UAN online to enjoy benefits like easy money transfers, claiming PF benefits, and more.
Establishments registered with the Employees’ Provident Fund Organisation (EPFO) must comply with monthly or annual compliances, including submitting electronic returns and filing online by the 15th day of the following month. Employees must be listed by name and UAN on the Electronic Challan cum Return (ECR) sheet, which can be obtained in XML format from the EPFO portal. File creation is crucial before filing, and online payment gateways can finalize the process.
The approval of the company name is an essential stage in renaming your business. This procedure is requesting formal approval from the appropriate authorities, often a government body in charge of registering and overseeing businesses in a particular territory. The goal of name approval is to make sure the new company name is original and hasn’t been taken by another company. It must also adhere to all rules and regulations established by law in that region.
The procedure for Private Limited Company Name Approval, for instance, will follow the same guidelines if you are operating as a Private Limited Company and want to make sure the new name complies with all legal requirements.
The process of liquidation is governed by several regulations and acts, including:
The act outlines the circumstances under which a company can be shut down, including special resolutions, acts against the country's sovereignty, court findings, failure to file yearly returns, and more.
This code deals with the voluntary liquidation of companies through special resolutions passed by board members.
Private limited companies must prioritize annual compliances, ensuring filings meet due dates and adhering to prescribed guidelines
Manage company income, expenditure, and monitor managerial policies effectively.
Assess business performance using key metrics like net profit.
Monitor business finances for effective project planning and financial management.
Assess a business's financial health and credibility for investors.
Registrar of Companies mandates income tax compliance, avoiding fines.
The Director Identification Number (DIN) is a crucial identifier for aspiring and current directors in corporate governance. Obtaining a DIN requires a one-time application through eForm DIR-3. An annual requirement has been introduced, requiring directors with DINs to submit KYC details annually through fincto’s expertise.
THIS FOUNDERS’ AGREEMENT (hereinafter referred to as the ‘Agreement’) is executed on [DD/MM/YYYY] by and among [XXXX] (the ‘Company’), and the following founders (the ‘Founders’):
[Insert Founder Name]
[Insert Founder Name]
NOW, WITH DUE CONSIDERATION to the foregoing and the mutual covenants and agreements hereinafter detailed, the parties hereto concur as follows:
[Continuation of the founders agreement template, incorporating company information, initial capital, ownership structure, vesting schedule, intellectual property rights, amendment protocols, resignation procedures, confidentiality commitments, dispute resolution, and more.]
Fincto combines technology and legal expertise for thousands of legal tasks.
Government processes simplified for convenience.
Package includes two iterations for satisfaction.
Fincto simplifies legal processes, making them accessible and accessible.
For comprehensive guidance, expert consultation is recommended.
A founders agreement encompasses several pivotal sections, including:
We handle legal work for over 1000 companies and LLPs each month, utilizing our tech capabilities and expertise of our legal professionals, ensuring ease and convenience for our clients.
We provide clarity on the incorporation process, setting realistic expectations and handling all paperwork to ensure a seamless interactive process with the government.
With a team of over 300 experienced business advisors and legal professionals, we offer top-notch legal services.
We stay up-to-date with regulatory changes, such as the new rules for winding up companies, ensuring our clients receive accurate and timely services.
When it comes to closing down an LLP, Fincto is a trusted partner for closing an LLP, providing comprehensive support and guidance. Let us handle the legal complexities while you focus on the next chapter of your business journey.
Customer may receive a refund for product dislike, damaged, incorrect item, or predefined issues upon return.
Refund policy governs online order cancellation process, details, and procedures for refunds.
A Website Disclaimer communicates liabilities to visitors, safeguards intellectual property, discourages unauthorized usage, and prevents misuse accusations. It can be standalone or integrated into legal documents, demonstrating responsible online conduct and promoting responsible behavior.
A Cookie Policy is essential for online transparency and legal compliance, educating visitors about active cookies, their purpose, and user data processing. It is often a legal requirement in many jurisdictions.
E-commerce relies on efficient shipping and delivery; a Shipping Policy provides clear information on fees, timelines, and procedures, improving customer experience.
GSTR1 is the form used for tax returns on outward supplies, encompassing both interstate and intrastate B2B and B2C sales. It also includes details of purchases under reverse charge and inter-state stock transfers made during the tax period. Late filing of GSTR1 can result in a late fee, which is collected in the subsequent open return, Form GSTR-3B. Since January 1, 2022, taxpayers cannot file Form GSTR-1 if they haven't filed Form GSTR-3B in the preceding month.
This amendment form corrects any discrepancies between the GSTR-1 of a taxpayer and the GSTR-2 of their customers. The filing window for GSTR1A is between the 15th and 17th of the following month.
Monthly GST returns for inward supplies are filed using this form. It contains taxpayer information, return period, and detailed invoice-level purchase information related to goods and services separately.
This auto-generated tax return compiles purchases and inward supplies made by a taxpayer based on the information from their suppliers GSTR-1.
An auto-generated document that acts as an Input Tax Credit (ITC) statement for taxpayers, facilitating faster return filing, minimizing errors, easing reconciliation, and simplifying compliance.
This form is used to file consolidated monthly tax returns. It contains the taxpayers basic information, turnover details, final aggregate-level inward and outward supply details, tax liability under CGST, SGST, IGST, additional tax (+1% tax), ITC, cash, liability ledgers, and details of other payments like interests, penalties, and fees.
This is a tax notice issued by the tax authority to a defaulter who has failed to file monthly GST returns on time.
It is a temporary consolidated summary GST return for inward and outward supplies, introduced as a relaxation for recently registered businesses.
This quarterly GST return is filed by compounding vendors. It includes the total value of supplies made during the covered period and details of tax paid at the compounding rate (not exceeding 1% of aggregate turnover) along with invoice details for inward supplies.
The Quarterly purchase-related tax return filed by composition dealers, automatically generated by the GSTN portal based on information from the suppliers GSTR-1, GSTR-5, and GSTR-7.
Variable return for Non-resident foreign taxpayers, containing details of the taxpayer, return period, and invoice details of all goods and services sold and purchased. It also includes imports on Indian soil for the registered period/month.
This monthly GST return is for ISDs (Input Service Distributors), containing details of invoice-level supply from the GSTR-1 of counterparties, credit for ITC services received, debit for ITC reversed or distributed, and closing balance.
It is a monthly return for TDS (Tax Deducted at Source) transactions, containing the taxpayers basic information, return period, supplier's GSTIN, and invoices against which the tax has been deducted, categorized under SGST, CGST, and IGST. It also includes details of other payments like interests and penalties.
This is the monthly return for e-commerce operators. It contains the taxpayers basic information, return period, details of supplies made to customers through the e-commerce portal, tax collected at source, tax payable, and tax paid.
The annual consolidated tax return, comprising detailed income and expenditure, regrouped according to the monthly GST returns filed by the taxpayer.
The annual composition return form to be filed by every taxpayer enrolled in the composition scheme.
This Audit form is filed by taxpayers liable to get their annual reports audited when their aggregate turnover exceeds ₹2 crores in a financial year.
Filed before cancelling GST registration, this final GST return contains the details of all supplies, liabilities, tax collected, and tax payable.
Variable tax return for taxpayers with UIN (Unique Identification Number), containing details of purchases made by foreign embassies and diplomatic missions for self-consumption during a particular month.
The MCA introduced The Companies (Winding up) Rules, 2020, effective April 1, 2020, to streamline company winding up procedures for smaller companies, eliminating tribunal intervention and applicable to specific classes under Section 361 of the Companies Act, 2013. Fincto is a customer-centric service provider with a team of experts who stay updated on legal landscape updates. They handle company winding-up processes with precision and compliance, adhering to MCA rules. Fincto’s commitment to excellence and attention to detail sets them apart as a reliable choice for business closure needs.
Staying compliant with GST due dates is vital to avoid late payment charges and interests. Fincto provides updated information on due dates for the financial years 2021-2022 and 2022-2023. Keeping clients informed of these updates can help taxpayers stay on top of their compliance requirements and ensure timely filing of GST returns.
Taxpayers registered under the Composition Scheme must file taxes using CMP-08 every quarter and file GSTR-4 annually. The due date for the GST return for Composition Scheme registrants is the 18th of the month following each quarter.
Fincto provides a hassle-free GST return filing experience with the support of a team of dedicated experts. Fincto offers a seamless GST compliance journey. It's commendable to see such dedication to assisting taxpayers in their GST return filing processes.
A GST Certificate is an important document issued by the Indian government which proves that a business is registered under GST. The certificate contains crucial information like the GST identification number, name, and address of the business. With a GST Certificate on hand, businesses can easily charge and collect GST, apply for loans, and participate in tenders.
Fincto offers expert guidance, simplified documentation, an easy-to-use online platform, data security measures, and responsive support. The Due Diligence Report is a crucial navigational tool in financial transactions, ensuring prudent financial management and compliance with regulatory norms. Fincto’s user-friendly platform simplifies document submission and process tracking, while its robust measures prioritize sensitive data security.
Fincto platforms improve transparency, efficiency, accuracy in due diligence, enabling secure business decisions.
A modification to the existing provisions of a corporation's articles of incorporation
Issued by certifying authorities for electronic document signing.
The elected governing body responsible for a corporation's operation. Certificate of Incorporation: The document filed to create a corporation
A unique identification number for directors. Dissolution: The process that legally ends a corporation's existence
The act of forming a corporation under specific jurisdiction laws
An entity with limited personal liability and pass-through taxation
Protection from the debts and claims against a company
The process to secure exclusive use of a corporate name for a specific period
The statutory address of a corporation
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2023-01-05 14:00 (INTERNATIONAL TIME)
