Certification of annual return. Sub-section (2) of section 92 provides for certification of annual return. The annual return of a listed company or a company having paid-up share capital of 10 crore rupees or more or turnover of 50 crore rupees or more, shall be certified by a company secretary in practice.
Provided that in relation to One Person Company , small company and private company (if such private company is a start-up), the annual return shall be signed by the company secretary, or where there is no company secretary, by the director of the company.
Definition of Company Promoter
A person who has been named as such in a prospectus or is identified by the company in the annual return in section 92; or. A person who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or.
Annual return is a yearly statement, required to be filed by every company irrespective of their nature or status, which highlights the information about company's various aspects pertaining to its composition, activities, and financial position.
Section 68 of the Companies Act, 2013 empowers a company to purchase its own shares or other securities in certain cases. Section 69 of the Companies Act, 2013 Accounting treatment of the proceed of Buyback. Sections 70 of the Companies Act, 2013 imposes restriction on buy back of shares in certain circumstances.
(1) Where any notice, advertisement or other official publication, or any business letter, billhead or letter paper of a company contains a statement of the amount of the authorised capital of the company, such notice, advertisement or other official publication, or such letter, billhead or letter paper shall also ...
“61(10) Every shareholders meeting of a public company must be reasonably accessible within the Republic for electronic participation by shareholders in the manner contemplated in section 63(2), irrespective of whether the meeting is held in the Republic or elsewhere.”
An annual rate of return is the profit or loss on an investment over a one-year period. There are many ways of calculating the annual rate of return.
According to the Companies Act 2013, every registered company is supposed to file an annual report before the start of the next financial year. all the companies need to file the annual return to the ROC stated under section 92 of the Companies Act.
Each calendar year, returns must be filed (i.e. annually). On the other hand, newly incorporated companies need not file returns for the first 18 months post-incorporation, whereas older companies must submit their annual returns no later than 42 days following their annual general meetings.
An individual or a group of people who come up with the concept of starting a business are the promoters of a company. They carry out the required processes to establish the firm. The company's promoters shape the company and thus are moulding blocks of the company. However, a promoter is not the owner of a company.
Sections 181 to 183 further set out the duties of a director and other company officers. They must act in good faith in the best interests of the company and for a proper purpose. They are prohibited from using their position to gain an advantage for themselves or someone else, or to cause detriment to the company.
Generally Promoter and Director will be the same, who will hold the maximum shares of the company. share holders – a person, company or institution that holds the shares of the company and is entitled to its profits or losses. they have a responsibility to ensure that the company runs well.
The annual return provides crucial details about a company's structure, operations, and financial status, and is mandatory for all active incorporated companies to submit to the Registrar of Companies (ROC) on a yearly basis.
“Every listed company shall file a return in the prescribed form with the Registrar with respect to change in the number of shares held by promoters and top ten shareholders of such company, within fifteen days of such change.”
(2) Every company shall maintain a register of the interest declared by individuals under sub-section (1) and changes therein which shall include the name of individual, his date of birth, address, details of ownership in the company and such other details as may be prescribed.
Sub-section (5) of Section 92 of the Act provides that if any company fails to file its annual return under sub-section (4), before the expiry of the period specified therein, such company and its every officer who is in default shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with ...
Form GSTR-9 is an annual return to be filed once for each financial year, by the registered taxpayers who were regular taxpayers, including SEZ units and SEZ developers. The taxpayers are required to furnish details of purchases, sales, input tax credit or refund claimed or demand created etc. in this return.
Gst Annual returns must be submitted by every taxpayer whose total revenue is more than 2 crore in INR per year.
Example of calculating annualized return
To calculate the total return rate (which is needed to calculate the annualized return), the investor will perform the following formula: (ending value - beginning value) / beginning value, or (5000 - 2000) / 2000 = 1.5. This gives the investor a total return rate of 1.5.
The yearly rate of return is calculated by taking the amount of money gained or lost at the end of the year and dividing it by the initial investment at the beginning of the year. This method is also referred to as the annual rate of return or the nominal annual rate.
The Annual Return is a document that comprises various components like the company's share capital, debts, directors, shareholders, etc. The Companies Act, 2013, stipulates that the companies prepare and file the Annual Returns with the Registrar of Companies (RoC) on a yearly basis.
Section 21 of the Companies Act 61 of 1973 allows for a 'not-for-profit company' or 'association incorporated not for gain'. Section 21 companies resemble business oriented (for profit) companies in their legal structure, but do not have a share capital and cannot distribute shares or pay dividends to their members.
Section 50 of Companies Act, 2013 – Company to Accept Unpaid Share Capital, Although Not Called Up. (1) A company may, if so authorised by its articles, accept from any member, the whole or a part of the amount remaining unpaid on any shares held by him, even if no part of that amount has been called up.
Section 44 of the Companies Act 71 of 2008 (Companies Act) regulates financial assistance by a company in the form of a loan, a guarantee or the provision of security to any person for the purpose of, or in connection with, inter alia, the subscription or purchase of any securities, issued or to be issued by the ...