Process for filling anual return of a company.
All companies are required to file returns at the end of the financial year. Both small and large companies need to follow the same procedure.
Maintaining Book of Accounts:The Companies Act, 2013, makes it mandatory for companies to maintain the books of accounts in a specific format. It is also important for companies to maintain the books of accounts to have control over the business.All company accounts must hold the following information.
- A detailed summary of all money received and spent by the company
- An account of all sales and purchases
- A summary of current assets and liabilities
- Any other financial transactions, such as payment of salaries
Conducting Annual General Meetings:
An AGM is a mandatory annual gathering of a company’s interested shareholders. At the AGM, the directors of the company present an annual report, which contains information for shareholders about its performance and strategy.