What is Companies Act 2013?
- Companies Act 2013
- The Companies Act 2013 is the primary legislation governing company formation, management, reporting, and compliance for Indian businesses registered with the MCA.
Key Compliance Requirements
Annual filings: MGT-7 (Annual Return), AOC-4 (Financial Statements), DIR-3 KYC (Director KYC). Mandatory audit by a Chartered Accountant. Independent directors for listed and large companies. CSR obligations for companies with net worth ≥ ₹500 Cr or net profit ≥ ₹5 Cr. Board meetings minimum 4 times a year.
ERP and Companies Act Compliance
ERPNext supports Companies Act compliance by: maintaining accrual-based books (mandatory), generating financial statements in Schedule III format, providing an audit trail for statutory auditors, managing director-level user access for digital signing, and supporting multi-company consolidated reporting.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
Related Terms
Implement ERPNext for Your Business
Expert ERPNext implementation, customisation, and support for Indian businesses.