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Private Limited Company Annual Compliances

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ANNUAL COMPLIANCES OF PRIVATE LIMITED COMPANY

Preparation of Books of Accounts 

Preparation of Books of Accounts

Company book of accounts includes vouchers, minutes, deeds, writings, documents, and registers pertaining to the transactions of the company.

Preparation of Financial Statement 

Preparation of Financial Statement 

Preparing general-purpose financial statements; includes the balance sheet, income statement, statement of Profit & Loss, and statement of cash flows.

Statutory Audit by Independent Auditor

Statutory Audit by Independent Auditor

Statutory audits performed by qualified auditors are conducted in order to report the state of a company finances and accounts to the Indian government.

Filing of Annual ROC Returns

Filing of Annual ROC Returns

Companies incorporated are required to E-File the audited financial statements & books of accounts with the Registrar of Companies (ROC).

Filing of Income Tax Returns

Filing of Income Tax Returns

All companies registered Under the Companies Act in India are required to file income tax returns each year on or before 30th September.

Maintenance of Statutory Registers

Maintenance of Statutory Registers

Every company incorporated under the Companies Act, 2013 are required maintain certain records about the company in the form of statutory registers.

What are the key components of annual compliances of a private limited company?

A company is a separate legal corporate entity and is operated by legal rules and procedures given under the Companies Act 2013.

ROC is also known as Registrar of Companies under the Ministry of Corporate Affairs looks after the compliances of Companies under its jurisdiction. Every Pvt. Ltd. company irrespective of its size has to file returns and documents to comply with the legal requirements given in the Act and is known as ROC compliances.

Failing to comply with rules & guidelines can attract a hefty penalty on the company and their stakeholders

So Let's get insights on what are the key components of annual compliances

Filing of DIR- 8 

As per Section 164(2) of Company's Act 2013 Every Director of the Company in each Financial Year will file with the Company disclosure and non-disqualification.

Filing of MBP-1 

As per Section 184(1) of Company's Act 2013 Every Director of the Company in First Meeting of the Board of Director in each Financial Year will disclose his interest in other entities under (Form MBP-1)

Filing of MGT-7

As per Section 92 of Company Act 2013, Every Company will file its E-form also known as Annual Return within 60 days of holding MGT-7 Annual General Meeting. Annual Return will be for the period 1st April to 31st March.

Filing of AOC-4

As per Section 137 of Company Act 2013, Every Company is required to file its Balance Sheet along with a statement of Profit and Loss Account and Director Report in this form.

Preparation & Filing of Financial Statements along with Form AOC-4

Balance Sheet, Statement of Profit & Loss Account (Including Consolidated Financial Statement), Directors Report, Auditor Report, Cash Flow Statement and Notice of AGM.

Preparation of Director Report

As per Section 134 of Company Act 2013, Directors Report will be prepared by a mention of all the information required for Small Company.

Circulation of Financial Statement 

As per Section 136 of Company Act 2013, Company will send to the members of the Company approved Financial Statement (including consolidated Financial Statement), Cash Flow Statement, Directors Report and Auditors Report at least 21 clear days before the Annual General Meeting. (Except in case of AGM is called on Shorter Notice)

Scheduling of Annual General Meeting

As per Section 136 of Company Act 2013, Every Notice of Annual General Meeting will be prepared SS-II as per Section 101 of Companies Act 2013 and Secretarial Standard II.

Scheduling Board Meetings

As Per Section 173 of Company Act 2013 & Secretarial Standard I, Every Company shall hold a minimum number of FOUR meetings of its Board of Directors every year in such a manner that maximum gap between two meeting should not be more than 120 (One hundred twenty) days. The company should hold at least 1 (one) Board Meeting every quarter of the calendar year.

Filing of ADT-1

As per Section 139 of Company Act 2013, Every company needs to appoint of Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for a 5-years appointment.

After that, every year in AGM shareholder will ratify the Auditor but there is no need to file ADT-1.

Preparation & Filing of Annual Return

As per Section 92 of Company Act 2013, Annual Return of Private Company (Except Small Company) should be signed by Company Secretary in Practice.

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OUR PROCESS

process 1

Provide Required Information and Documents over the mail

process 2

Choose Package and Pay online with different payments modes available

process 3

On placing the order, your task is assigned to one of our dedicated professional

process 4

Our professional will prepare books of accounts & financial statements of the company

process 5

Our professional will file ROC and Income Tax Returns

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Deliver all the original compliance documents at your doorstep

Documents Required for Private Ltd Annual Compliance

Bank Statement

Bank Statement

Digital Signature Certificate

Digital Signature Certificate

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Complete List of Document required




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PACKAGES

BASIC

14999
Plus taxes

Preparation of Books of Accounts
Preparation of Financial Statement, Director Report, Notice of AGM 
Filing of DIN eKYC
Filing of ROC Returns 
FIling of Income Tax Returns 
of the company having less than 200 transactions in a financial year 

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STANDARD

19999
Plus taxes

Preparation of Books of Accounts
Preparation of Financial Statement, Director Report, Notice of AGM 
Filing of DIN eKYC
Filing of ROC Returns 
FIling of Income Tax Returns 
of the company has transactions more than 200 in a financial year 

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PREMIUM

29999
Plus taxes

Preparation of Books of Accounts
Preparation of Financial Statement, Director Report, Notice of AGM 
Filing of DIN eKYC
Filing of ROC Returns 
FIling of Income Tax Returns 
Secretarial Compliances 
Preparation of Minutes & Other Statutory Registers 

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frequently asked questions

If a director fails to comply with the statutory compliances straight for 3 years he/she shall be barred from being a director in any other company  
As a part of statutory compliance It is mandatory to prepare 1) Statutory Registers 2) Minutes Book 3) Books of Accounts 4) Financial Statements 5) Register of Directors Attendance at Board/Committee Meetings
One Annual General Meeting should necessarily be held in one calendar year & maximum gap cannot more than 15 months between 2 AGMs

Holding Board Meeting: First meeting within 30 days of incorporation. A Minimum of 2 meetings, one in each half calendar year. A minimum gap of 90 days is required between 2 meetings (ignore if more than 2 meetings held during the year)
Following are the income tax compliances for a company 
  • Calculation and Quarterly Payment of Advance Tax
  • Filing of Income Tax Returns (Tax will be payable at a flat rate of 30% plus Education Cess)
  • Tax Audit: Mandatory in case sales, turnover or gross receipts of a business exceed Rs. 1 Crore in the previous year relevant to the assessment year.
  • Filing of Tax Audit Report
Apart from statutory compliances there could be following event based compliances:
  • Change in Authorized or Paid-up Share Capital of the Company.
  • Allotment of new shares Transfer of shares
  • Appointment or Change of Directors.
  • Appointment or Change of Auditors.
  • Loans are given to other Companies.
  • Loans to Directors (only if the company complies with Section 185)
  • Opening or closing of bank accounts or change in authorized signatories.
  • Creation or satisfaction of Charges.
If a Company fails to comply with the rules and regulations of the Companies Act, then the Company and every officer who is in default shall be punishable with fine for the period for which default continues. If there is a delay in any filing, then additional fees are required to be paid, which keeps on increasing as the time period of non-compliance increases. It should be noted that some of the Annual Filing Forms can also be revised but the fees for subsequently revised filing shall be charged, assuming it as a new filing.
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