Private Limited Company Annual Filing

All companies registered in India, including private limited, limited company, one person company and section 8 company must maintain the annual compliances like annual returns and income tax return every year.

 

 

Though Company Registration is the most popular form of starting a business, various compliances need to be followed once the business is Incorporated. A Private Company is an entity which requires maintaining its active status through the regular filing of an annual return and audited financial statements with MCA for every financial year. The RoC filing is compulsory irrespective of the turnover, whether it is zero or in crore. Whether a single transaction is undertaken or none, annual compliances for every registered company are compulsory

 

 

The due dates for annual filing of a company are based on the date of the Annual General Meeting. AGM must be held within 6 months from the end of the financial year i.e. 30th September every year. In case of new companies, first AGM should be held within 18 months from the date of incorporation or 9 months from the close of financial year whichever is earlier. As per Companies Act 2013, financial year should starts from 1st April and ends on 31st March.

 

 

The Companies Act, 2013 regulates the appointment, qualification, remuneration, and retirement of the Company's Directors and other aspects such as conducting board meetings and shareholder meetings.

 

Choose Your Package

Silver

₹ 3499/-

  • Annual Filings for Company having Authorized Capital of Rs 1 Lakhs and turnover upto Rs. 50 Lakhs
  • AOC 4 Filing
  • MGT 7 Filing
  • ADT 1 Filing

Gold

₹ 14999/-

  • Accounting and Book-keeping
  • Financial Statement Preparation
  • Drafting Notice and Director's Report
  • AOC 4 Filing
  • MGT 7 Filing
  • ADT 1 Filing
  • Annual Filings for Company having Authorized Capital of Rs 5 Lakhs
  • turnover upto Rs. 50 Lakhs and upto 100 accounting transactions
  • One Year Income Tax filing upto turnover of Rs. 50 Lakhs
  • 2 DIR-3 KYC
  • Commencement of Business Certificate

Platinum

₹ 20999/-

  • Accounting and Book-keeping
  • Financial Statement Preparation
  • Drafting Notice and Director's Report
  • AOC 4 Filing
  • MGT 7 Filing
  • ADT 1 Filing
  • Annual Filings for Company having Authorized Capital of Rs 5 Lakhs
  • turnover upto Rs. 50 Lakhs and upto 100 accounting transactions
  • One Year Income Tax filing upto turnover of Rs. 50 Lakhs
  • 2 DIR-3 KYC
  • Commencement of Business Certificate
  • 1 Year GST Return Filing upto 100 entries (12 GSTR-3B and 4 GSTR-1)

 

 

 

Private Limited Company Annual Filing Forms

 

 

Statutory Auditor Appointment 

 

All registered Indian Companies must appoint a Statutory auditor within 30 days of incorporation. The auditor also needs to be appointed within 15 days from the conclusion of AGM. Therefore, the due date for ROC Form ADT 1 would be 14th October every year.

 

Declaration Of Commencement Of Business 

 

The capital mentioned in the MOA [Memorandum of Association] must be deposited in a bank and commencement certificate must be obtained from MCA within 180 days of incorporation.

 

 

Hold Annual General Meeting:

 

For a Private Limited Company, it is mandatory to hold an annual general meeting once a year. Companies are required to keep their AGM within six months from closing the financial year i.e. 30th September every year

 

 

Accounting:

 

Every Private Limited Company shall maintain proper books of accounts which shall represent an accurate and fair value of the state of affairs of the company. Accounting is necessary for the statutory audit. Annual filing and Income tax return filing which is mandatory.

 

 

Statutory Audit:

 

Every Private Limited Company registered under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital must have its book of accounts audited each financial year.

 

 

MAT Audit:

 

It is mandatory for the Private Limited Company to get their accounts audited under MAT i.e. Minimum Alternate Tax. The objective of the introduction of MAT was to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income-tax Law.

 

 

ROC Form AOC-4:

 

The registered Private Limited Companies must file MCA Form AOC-4 which contains details and annexure relating to Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 29th October i.e. 30 days from the conclusion of the AGM.

 

 

ROC Form MGT-7:

 

It is necessary to file MCA form MGT-7 which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. Due date for ROC Form MGT 7 would be 28th November that is 60 days from the conclusion of AGM.

 

 

DIR-3 KYC:

 

DIR 3 KYC is a form to be filed by Every director who has been allotted DIN (Director Identification Number). 

 

 

Income Tax Return:

 

Income tax returns need to be filed on or before 30th September 2021 for each financial year .

 

 

 

Effects Of Non-Compliances

 

 

The continuous failure may lead to the removal of the company’s name from RoC’s register, including disqualification of directors.In case there is a delay in annual filing, additional fees are required to be paid. Hence, it is always better to fulfil the compliances on time.

 

 

Be Compliant With UpriseLegal

 

 

With our experienced and skilled personnel, We at UpriseLegal make easy for you to be compliant. Managing the business's everyday operations while complying with the difficult corporate laws can be a task for the entrepreneur. So, it is always better to take the professionals' help and understand the legal requirement to ensure timely fulfilment of these compliances to waive off the penalties or fines. We follow law to the core and uses our knowledge to avoid any hassles in your business so that you can rise and grow! You may get in touch with our compliance manager on 9173512402 or email us at [email protected] for free consultation.