Annual Compliance of Private Limited Company - Online Process
Private limited Company is entity which incorporated or formed under Companies Act,2013 and enjoy separate legal identity. It is mandatory for each type of company to comply with annual compliances. It means to file financial statements and annual return with the Ministry of Corporate Affairs (MCA). Annual compliances are mandatory irrespective of turnover of company. Failure of annual compliance attract penalty on director as well as company, in case of continuous failure leads to Disqualification of Director or removal of companies name from ROC.
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Annual Compliance of Company Starting From Rs. 9,999/-
Annual Compliance of Private Limited Company :
If we think to commence our new business in the form of a company (whether public or private), the first step is to incorporate a company as per the Companies Act, 2013 and it is really an exhilarating moment for business startup journey to obtain a Certificate of Incorporation. Once the company has incorporated, it has to be adhered with timely compliances under various applicable laws, after incorporation and till it dissolution.
Just to incorporate a company and start business is not enough, to run a successful business one has to take care about regular and timely compliances for smooth functioning of the business and avoidance of penalty & fine for non- compliances.
Following are the various compliances under the Companies Act, 2013 and other laws which are required to be comply by the private company on timely basis:
Companies which are registered under India after November 2019, having share capital must obtain certificate of commencement of business within 180 days from date of incorporating company in Form INC-20A. If company fails to obtain certificate liable for the penalty under Companies Act,2013.
First board meeting of company expected to be held within 30 days of incorporation of company. Proper notice to be serve to each director at least 7 days prior along with the agenda.
All companies shall appoint first statutory auditor within 30 days of incorporation.
Subsequent auditor shall appoint by company in first annual general meeting of company, who hold the office till the 6th Annual General Meeting.
Same to be notify by company to ROC within 15 days in form ADT-1.
As per Companies Act,2013 every director require to make disclosure of his interest in any company, association or body corporate in first board meeting or first board meeting in every financial year any change in interest of director.
Disclosure to be made by director by giving notice in writing in form MBP-1.
Every registered private company require to file financial statement within 30 days of annual general meeting in form AOC-4. If in case AGM not held then 30 days from due date of Annual General Meeting along with reason of not holding General Meeting.
Each private company shall file Annual Return within 60 days from conducting AGM. Annual Return file in Form MGT-7.
Every company require to hold Annual General Meeting every year mandatorily. First AGM held within 9 months from end of financial year and in other case, within 6 months from date of closing of financial year.
All directors of company with DIN are require to submit their KYC details through e form DIR-3 every year.
Section 134 of Companies Act,2013 deals with Board Report. Board report is mandatory filing with ROC with attachment of AOC-4.
Due date of annual compliances of private limited company:
| Forms | Description | Due Date |
| INC-20A | Declaration of commencement of business | 180 days from incorporation of company |
| ADT-1 | Appointment of Auditor | 15 days from appointment of Auditor |
| MBP-1 | Director require to disclose their interest | First board meeting or
Initial board meeting of financial year |
| AOC-4 | Filing of financial statement | 30 days from Annual General Meeting |
| MGT-7 | Filing of Annual Return | 60 days from annual General Meeting (if AGM not held 60days from due date of AGM) |
| DIR-3 | KYC of Director | 30th September immediately next financial year |
Due date of annual compliances of private limited company:
- Failure to file annual returns, financial statements, and other statutory documents can result in significant monetary penalties. The fines typically increase with the duration of non-compliance.
- Failure to Conduct Board Meetings can lead to penalties for both the company and its directors.
- If a company remains non-compliant over an extended period, the Registrar of Companies (RoC) has the authority to strike off the company’s name from the Register of Companies, effectively dissolving it.
- Non-compliance can lead to a loss of credibility and reputation in the market. This can affect business relationships with clients, investors, and other stakeholders, making it challenging to secure funding or business opportunities.
- The company might face revocation of various licenses and registrations, such as GST registration, which are crucial for its operations.
- Non-compliant companies may become ineligible for certain government schemes, subsidies, or incentives designed to support businesses.
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Basic Features to Read before starting private limited company
Private company is required to add the word “Private limited” or “Pvt. Ltd.” to end of its name. Private company should have at least two member and two directors. Private company have right to issue debentures to any number of persons.
Features of Public Limited Company
MCA provides the facility for incorporation of public limited company. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on MCA portal. After availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .
Annual Compliances Package For Private Limited Company
₹10,000/-
- Annual Filing Form AOC-4
- Annual Filing Form MGT-7A
- DIR-3 KYC of 2 director
₹21,000/-
- Annual Filing Form AOC-4
- Annual Filing Form MGT-7A
- DIR-3 KYC of 2 director
- Income Tax Filing
- GST Annual Return filing
₹35,000/-
- Financial Statements
- Annual Filing Form AOC-4
- Annual Filing Form MGT-7A
- DIR-3 KYC of 2 director
- Income Tax Filing
- GST Annual Return filing
- TDS Return Filing
- Return of Deposit DPT-3
- MSME Return Form MSME-1
- Declaration of Significant Beneficial Ownership Form BEN-2