Help Center

General Questions

1We are a private limited Company and right now we are just in the expansion stage and there are no revenues in the Company, do we need to accomplish any compliance for the Company?
Well, this is a common query which fundamentally turns up in the mind of all the start ups. Most of the private limited Companies give a miss to this because of unawareness about the laws. There are lots of compliances which a recently built-in Company also has to abide by. Failing which may screw the business in long run. The indispensable lists of compliance for private limited Companies are mentioned below:
• Appointment of Statutory Auditor.
• Statutory Audit of a Company by a practicing Chartered Accountant/Firm
• Filing of Income Tax Returns
• Filing of specific annual forms as prescribed by the Registrar of Companies.
• Organizing the minimum specified Board Meetings, Annual General Meetings and keeping a note of them, either digitally or manually.
• Maintaining of statutory registers as mandate by Companies Act.
• Allotment of new shares or transfer of shares
• Liquidate or windup of company
• Income Tax Returns
• TDS Returns
• Goods and Service Tax Returns
• Profession Tax Returns
• PF & ESIC Monthly Returns
• Payroll / Labour Laws
• Day to day Accounts writing & Book Keeping,
• Legal Advise (company structuring, tax structuring, applicable laws)
• Project Reports
• Contract & Agreements (co-founders agreement, shareholding agreements, vender agreements, logistic agreement)
• IPR services - Trademark, copyright, patents.
• Legal notice, litigation & dispute resolution.
2Why should you register through us?
We are a team of Chartered Accountant, Company Secretary, Lawyers and post graduates with considerable working experience who can help you in each and every step. Apart from Incorporation, we will be providing you with specialized services which include:-
• Project Coordinator for single point of contact,
• Providing Standard Agreement Drafts containing a) Terms and Conditions b) Employee Agreement c) Service Agreement,
• Advisory on local Regulatory Registration for the Company,
• Book Keeping and Accounting either via online support or interval visit by our team members,
• Statutory Audit by our associate practicing Chartered Accountant,
• Secretarial Drafting,
• Annual filings as mandated by RoC,
• Income Tax Return Filing
3How this offer is helpful to me?
In most cases, in the initial years, a startup does not generate much of business. However, there are few basic mandatory compliances which a company has to comply with, irrespective of your turnover or business. So this offer aims to protect your startup from unnecessary barriers. This offer would help your business comply with the basic compliances and thereby avoid unnecessary penalties & interests in the initial years of operations.
4What is included in this package?
Apart from Incorporation of Company, this package includes the basic and mandatory compliances that a company having a turnover of less than Rs. 5 lakhs or financial entries not more than 30 has to take up:
i) Preparation of Financial Statements (Balance Sheet, Profit & Loss Statement, All ledgers, Depreciation Schedule, Trial Balance)
ii) Income Tax Return Filing – ITR 6
iii) Annual RoC Filing – AOC 4, MGT 7, ADT 1 (as the case maybe)
iv) Audit Compliances
v) Secretarial Drafting- Director’s Responsibility Statement, Audit Report, Director’s Report, Internal Financial Controls Report

Query Questions

1How much the penalty is, if my company fails to meet these compliances?

i) Preparation of Financial Statements:
Punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than Rs. 50,000 but which may extend to Rs. 500,000 or both
ii) Income Tax Return Filing:
Will attract interest u/s 234A and i.e. if the Assessee fails to file its income tax return within the time prescribed by section 139, the he shall be liable to pay interest @ 1% per month or part of the month from the due date of filing of return to the actual date of filing of its return. A further penalty can be levied up to Rs. 5,000 for non-filing of tax returns us 271F.
iii) Annual RoC Filing:
Additional fee leviable as per specified MCA slabs, which may extend upto 12 times of original fees. Apart from this, provisions for striking off the company and prosecution are also present.
2What if my startup is not a private limited company?
This package is mainly for private limited companies. If your startup is not a private limited company, you may contact us at info@startupswale.com. We would customize a special package for you at most affordable costs, as per the scope of your work.
3Does your package include Govt e-filing fees too?
This package would cover Govt fees involved in Incorporation of Company. Apart from this, the package does not include any other Govt e-filing fees. This is because Govt e-filing fees are dependent upon the authorized capital of your company. In general, the total normal Govt fee of a private limited company with a capital of upto Rs. 100,000 would be Rs. 900. Further, any additional filing fee or penalty due to past non-compliances are not covered. Ministry generated payment challans would be provided to you as a measure of transparency.
4I have started my business but have not complied anything for previous few years?
In this case, you need to contact us at info@startupswale.com. We will take care of the all your compliances related to various applicable acts and you will have to pay only for the work undertaken as per the standard rates as mentioned in ___.

Legal Questions

1What is the due date for meeting these compliances?
The due dates for meeting these compliances are as follows:
• ITR filing – 30th September
• RoC filings – within 30 days from the date on which the Annual General Meeting of your company is supposed to be held. In most cases, this date is 30th September. Hence , the due date comes to 30th of October, 2016, this year.
2What is DSC? Is the fee for DSC included in the package?
DSC or Digital Signature Certificates are the digital equivalent (that is electronic format) of physical or paper certificates. Physical documents are signed manually, similarly, electronic documents, for example e-forms are required to be signed digitally using a Digital Signature Certificate.
Our fees include DSC charges but it does not include DSC renewal charges. But you can customize the package to include such renewal at some additional cost.
3The turnover of my company is more than Rs. 5 lakhs or there are more than 30 financial entries. Is this package applicable to me?
Once the turnover of your company touches Rs. 5 lakhs or the number of financial entries exceeds 30, various other compliances like Service Tax, etc get attracted. Additionally, for such growing companies, books of accounts have to be maintained on routine basis. Hence, this offer is not suitable for you.
For compliances of your growing company, outsource your day to day tax, accounting services and Pay-roll functions etc., check out our day to day Tax & Regulatory Services – Retainership Package.
4What services are not included in this offer?
This offer includes only basic mandatory compliances which are required to be met on an annual basis. So for any additional services, the standard fees will be applicable.
Note - Any out of pocket expenses including DSC charges and Government fees would be billed separately.