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Hope you have filed your
Individual Tax Returns. The next step for us entrepreneurs, the future business
leaders of India, is to get Annual Returns filed for our Company. A necessary
evil, it is a statuary requirement and we are bound to follow it.
We would enumerate some of the
advantages below for filing Company Compliances on time:
Why to file Company’s Tax Return on Time?
1- Peace of Mind: We have seen in our
professional career that in 95% of cases, defaulters end up getting Tax Notices
sooner or later (In some cases, notices are served as late as after 4 years).
Hence it is a prudent practice to file Tax Returns on time.
2- Assistance in getting Loans: If you are
looking for corporate loan, your Tax returns are the most important piece of
documents Banks ask for. The better your Tax Record History, higher are the
chances of getting loan.
3- Once a year exercise: You pay your
returns once a year and can relax for next 12 months.
4- Mandatory for Companies: Proprietor-Partners
of Firms/ Directors of Private Limited or LLP companies are liable to do annual
compliances for their business and are liable in case of any default. If you
are not doing any business in your registered firm, please close down the
company rather than risking a notice later on
5- Balance Sheet: Get the pleasure of
having Balance Sheet of your company in your hand and see the fruit of your
labor!!!
Hope this blog was informative
for you. Get further updates on not only Accounting/Book-Keeping/Government
Compliances but also about all new rules and regulations/opportunities for funds which will be your industry specific
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We are available on Call
@844-7265-465 or at vivek@rrs-group.in
www.ca4you.in (Company
Registration Services/Company Formation Services/Company Registration
Consultants in Delhi)
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