An Indian Pvt Ltd co. engaged in certain services classified under export of services under GST.
The company received advance worth 2cr from an overseas customer in March 2020 in USD in their bank account as advance against the travel-based services to be provided. From March 2020 the international travel ceased so, the company has not provided any services for last two years to the said client.
The issue : How will the above advance be treated under section 73 and Deposit rules.
-Whether it falls under Public Deposit/Loan
-Whereas it's simply a business advance against services to be provided in future but outstanding for more than 365 days.
-What options the company has to not the same be treated as deposit/loan.
Please give resolutions
Procedure to be followed for shifting of registered office within the same Special Economic Zone area. it will be within state compliances or what ?Click here to view / answer Share it on
Share the procedure for registration and other compliances if any needs to be done.Click here to view / answer Share it on
Required drafts formats for First Board Meeting Agenda, Notes of Agenda and Minutes Format.
Please share as per SS-1 & SS-2 Applicability
Company will be considered as Public company since where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company.
Name Change will be effective from the date of COI or EGM ?
Company incorporated in 2019, company does not file INC-20A within 6 months of incorporation and failed to commence its business. MCA Strike Off the company , but my question is directors will be considered as disqualified ?
Presently directors DIN is active and they want to incorporate a new Company , so is it possible ? Please give light on my query
Which sections of the Companies Act applicable or having exemption for NBFC Companies in regard to loan, investment and borrowings ?
share procedure for Conversion of Nidhi company to Private Limited
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
There are two forms required to file annually for all LLP:
filing of Annual Return of LLP in Form -11
Every LLP registered under the LLP Act 2008 is required to file annual return in Form-11 pursuant to Section 35(1) of the LLP Act, 2008 within 60 days of end the respective financial year i.e. 30th May.
Filing of Annual Accounts of LLP in Form -8
Every LLP registered under the act is required to prepare books of accounts file financials in Form-8 pursuant to Section 34(2) of the LLP Act, 2008 within 30 days of end six months of the closure of the financial year i.e. 30th October.
Form -8 is filed to report the statement of solvency and statement of accounts and Income and Expenditure for the year and disclosure under MSMED Act, 2006.
Form-8 needs to be attested by the CS-Company Secretary, CA-Charted Accountant, and Cost Accountant, who are practising.
Applicability for filing LLP Form 8 for 2022
Every LLP existing or incorporated on or before 30th September 2021 should mandatorily to file the Form-8 before 30th October 2022.
COMPLIANCES REQUIRED TO COMPLIED BY YOUR LLP THROUGH DESIGNATED PARTNERS
COMPLIANCE REQUIRED UNDER ACT AND COMPLIANCE NATURE
FORM TO BE FILED
FINANCIAL YEAR ENDED ON
COMPLIANCE DUE DATE
ANNUAL RETURN AS PRESCRIBED BY LLP ACT, 2008
(Within 60 days)
30th May, 2022
Extended by 30.06.2022
STATEMENT OF ACCOUNT AND SOLVENCY AS PRESCRIBED BY LLPACT, 2008
(within 30 days from the end of 6 months of such financial year)
30th October, 2022
AUDIT OF FINANCIAL STATEMENT AS PRESCRIBED BY LLP ACT, 2008
If Authorised capital exceed Rs.25 Lakhs or Turnover exceed Rs.40 Lakhs
INCOME TAX RETURN – INCOME TAX ACT, 1961
31st July, 2022 Or (30th Sept, 2022 If Tax Audit Is Required)
TAX AUDIT REPORT BY CHARTERED ACCOUNTANT
If The Turnover Exceed Rs.1Cr. or Receipts of Professional exceed Rs.25 lakhs in FY 2021-22
MAINTAINACE OF BOOKS OF ACCOUNT - INCOME TAX ACT, 1961
As Prescribed Under Section44AA of Income Tax Act, 1961
ANY OTHER COMPLIANCE DEPEND UPON NATURE OF BUSINESS ACTIVITIES PERFORMED BY LLP & REQUIRED BY APPLICABLE ACT
For Example – Service Tax Compliance for Service Provider subject to applicability etc.
REQUIREMENTS FOR RETURN FORM 11:
REQUIREMENTS FOR RETURN FORM 8: