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A business is a type of commercial organisation that is recognized by law. The key characteristic is that the owners are subject to a cap on their personal liability. Distinct nations use different terminology, such as a limited liability company (LLC), a private limited company (PLC), a public limited company (PLC), etc. Depending on the country, it could be advantageous for tax purposes to be handled in a pass-through manner.
Corporations are legal entities that runs businesses. It has its own identity in the eyes of the law, independent of its proprietors. Shareholders are the corporate owners. As a legal fiction, Corporation is exclusively responsible for its own deeds, debts, and liabilities.
The company's compliances are crucial to its success and are on par with its day-to-day operations. If a corporation is to operate legally, it must perform certain tasks either once per year or on a yearly basis. If a business fails to meet these requirements, the registrar may remove the firm's name from its register or database and inflict severe penalties on the company and its officers. Private Limited Companies, Public Limited Corporations, One-Person Corporations, and Companies Limited by Shares (sometimes known as "Section-8 Companies") all have unique compliance requirements.
Things include getting an auditor, holding meetings, setting up a bank account, paying taxes (income tax, yearly, TDS, GST), verifying the identities of board members, etc. Companies of all sizes must adhere to these regulations. Most compliances are annual and must be completed at the end of the fiscal year, but there are also periodic compliances that must be completed on a monthly or quarterly basis.
To avoid any penalties, AMA Legal Solutions will assist you in meeting all of these requirements by the due dates. We will not only keep you abreast of any and all new notifications or compliances that may affect your firm but will also handle all filings on your behalf, as experienced Company Secretaries are also a part of our Organisation.
Our vigilant team of lawyers at AMA Legal Solutions will make sure that a corporation’s transactions complies with Corporate Laws and Regulations through preparation of documents, assessing partnerships and doing negotiations on their behalf.
Our team is highly experienced and provides the most cost - effective advices and strategies for an immediate action on the concerned matter in regards to corporate governance and compliances.