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You can create any type of product documentation with Fincto
You can create any type of product documentation with Fincto
Section 12 of the Companies Act of 2013 mandates that every business, including LLPs, must have a registered office at registration or within 30 days. This address serves as the primary place of business and is the primary point of contact for all formal communications from the Ministry of Corporate Affairs
Any changes in the registered office address must be reported to the Registrar of Companies (RoC) or MCA. Additional office addresses do not need notification
To initiate the company liquidation process in India, you will need the following documents:
when changing the registered office address, it is crucial to file Form INC-22 along with the requisite fees. The following documents need to be submitted for verification:
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.
There are four types of address changes, each requiring a specific procedure:
Hold a board meeting, pass a resolution, file Form INC-22 within 30 days, provide business address proof, and obtain a NOC from the owner
Apply for approval with the regional director through Form INC-23, file the change resolution with the RoC within 60 days, and the address change will be initiated within 30 days
Involves a different procedure depending on the state's size (e.g., Tamil Nadu and Maharashtra)
Requires a complete change in the MOA, board resolution, filing Form MGT-14 with the MCA, publishing an advertisement in local and English newspapers, and notifying all creditors and partners
Government fees and stamp duty depend on the authorised capital of the company.
The process for changing the company objectives involves five key steps:
The company's name and objectives will be altered through a board meeting, with a director or secretary appointed to sign and certify the necessary documents.
File Form MGT-14 with the RoC, along with the necessary documents, to process the changes.
After receiving the new incorporation certificate, update the object clause in all copies of the MoA.
The committee is planning to hold an Extraordinary General Meeting (EGM) to approve changes, ensuring all members are given proper notice and their responses are collected.
If the Company Identification Number (CIN) changes due to a change in the industry code, the RoC will issue a new certificate of incorporation to the company.
To increase the authorised share capital, the following documents must be filed with the MCA within 30 days of obtaining consent from shareholders:
Liquidation grants directors and company personnel relief from creditor obligations and pressures once the process is complete.
By voluntarily approving the resolution, directors can avoid legal actions initiated against the company, allowing them to focus on new commercial opportunities.
Liquidation expenses are relatively lower as they are primarily associated with the sale of assets.
All lease agreements signed by the company will be terminated during liquidation, along with their terms and conditions.
Creditors benefit from the liquidation process as they are eligible for payment related to the proposed credits provided by all creditors.
Compliance procedures depend on whether the change is within the same RoC jurisdiction or a different one:
a) Change in a Company's Registered Office Within the Same City: Pass a board resolution and submit Form INC-22 to the RoC within 15 days
b) Change in a Company's Registered Office Outside the City: Pass a board resolution, hold an EGM, pass a special resolution, and submit Forms INC-22 and MGT-14 to the RoC within 30 days.
Compliance procedures vary by state, involving resolutions, regional director application, public notices, and ROC filing.
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.
If a director voluntarily tenders their resignation, the following steps are taken:
If a director is absent from all board meetings for 12 consecutive months without seeking leave, they are considered to have vacated their office as per Section 167. The process involves filing Form DIR-12, and the director's name is removed from the MCA database.
The steps for removal of a director by shareholders are as follows:
For companies seeking to change their registered office address within same state, the process involves the following steps:
The Board of Directors is set to hold an Extraordinary General Meeting, where a special resolution will be passed to change the registered office address
To apply to the Regional Director, the company must publish a public notice, notify shareholders, creditors, and depositors within 21 days, and use Form INC-23
The Regional Director confirms a company's application within 30 days, which must be filed with the RoC within 60 days, and the RoC also issues confirmation for the change of office
Directors must submit KYC information to MCA if they meet recent updates.
The Ministry of Corporate Affairs offers the 'Strike Off' mechanism for inactive businesses, which can be initiated voluntarily through specific resolutions or court orders.
This method, available under Section 248 of the Companies Act of 2013, is a quick and straightforward way to dissolve a defunct company.
For companies seeking to change their registered office address from one state to another, the process involves the following steps:
The Board of Directors is required to adopt a resolution requesting an EGM to discuss and pass a special resolution for changing the registered office and modifying the Memorandum of Association
The company must publish a notice in a newspaper, notify debenture holders, creditors, and depositors within 21 days, apply to the Regional Director using Form INC-23, and receive confirmation within 60 days
The company is required to obtain approvals from the Regional Director and Central Government within 60 days, using Form INC-22 and INC-28, to confirm the office change
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 registered office address is crucial for a company’s official communication, legal notices, statutory records, jurisdiction, and legal processes, ensuring smooth functioning and compliance with government authorities and regulatory bodies
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.]
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For comprehensive guidance, expert consultation is recommended.
A founders agreement encompasses several pivotal sections, including:
Identifying co-founders and their roles within the company.
Defining equity ownership distribution and percentage among co-founders.
Potential inclusion of a vesting timetable for equity shares.
Managing intellectual property rights in business ventures.
Outlining decision-making mechanisms, roles, and responsibilities of co-founders.
Describing scenarios leading to termination and exit procedures for co-founders.
Establishing protocols for dispute resolution, including mediation and arbitration.
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.
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 boasts a team of the best business experts who will take care of all the paperwork and guide you through the entire process. We offer a one-stop solution for changing your registered office address, ensuring a seamless transition. Reach out to our experts right away, and we’ll handle everything efficiently and keep you updated throughout the process. Trust Fincto for a hassle-free change in your registered office address.
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2023-01-05 14:00 (INTERNATIONAL TIME)
