Annual Compliance For Private Limited Company

Under the Companies Act 2013 there are various requirement and lot of filings required to be undertaken with the Registrar of Companies. To provide a quick of view of such filings, we have compiled the list of requirements under which various filings has to be done. Apart from the filing requirement, the list of documents that are required to be filed is also available.

Every Company must fulfil the requirements as specified in the companies act 2013, otherwise the company has to face various actions from Registrar of companies like payment of late fees, disqualification of directors, company strike off etc.

Registrar of companies has the power to close the companies or disqualify the directors of the companies in case the company is not fulfilling the compliances requirements of the company as specified in the companies act 2013.

We have provided the list of annual compliances as applicable to private and public companies.

Benefits of annual compliances

The following are the benefits of annual compliances :

  • Increases trust and loyalty
  • Avoid legal actions
  • Avoid financial penalties
  • Increase company credibility
  • easy access to funds

Essential information & Documents Needed for Annual Filing of Company

  • COI - Certificate of Incorporation,
  • Copy of Pan of Company.
  • AOA-MoA of Private Limited Company
    • An independent auditor must audit financial Statements
    • Complete Audited Financial Statements
    • Statuary Audit Report & Board of Director Report
    • Independent Statuary auditor’s report and Board of Director Report must be concerned
    • DSC of Existing Director
    • Current Active DSC of 1 directors provided and presented

Mandatory Annual Compliances by Private/ unlisted public companies

Form /Event Time limit Explanation
First Board Meeting within 30 days of Incorporation of the company Every Company is required to Conduct the First Board meeting of the company within 30 days of its Incorporation
Appointment of first Auditor within 30 days of the Incorporation of the company Every Company is required to Appoint the first auditor of the Company within 30 days of the Incorporation of the company
Subsequent Board Meeting At least 4 in every financial year Every Company is required to conduct at least 4 Board meetings in every financial year. The gap between two Board meetings shall not exceed 120 days.
Form INC-22 Within 30 days of incorporation Every Company is required to file with the registrar of companies Form INC 22 for verification of registered office of the company.
Form NC-20A within 6 months of incorporation Every Company is required to file with the registrar of companies Form INC-20A before Commencement of business of the company
Disclosure of interest of directors First Board meeting after appointment and thereafter in every first board meeting held in every financial year and whenever there is a change in the disclosure already made, in the Board meeting held thereafter. Every director shall disclose the interest of the director in Form MBP-1.
Annual General meeting First Annual General meeting – within 9 months of closure of the first financial year
Subsequent Annual General meeting - within 6 months of closure of the financial year
Every Company is required to conduct one Annual General meeting in every financial year
Form PAS-6 Within 60 days of each half of financial year Every unlisted public company shall file with the Registrar of companies a reconciliation of audit report in form PAS - 6
Form AOC-4 Within 30 days of the Annual General meeting of the company Every company is required to file Form AOC – 4 in every financial year
Form MGT-7 Within 60 days of the Annual General meeting of the company Every company is required to file with the registrar of companies the Annual return in Form MGT-7 in every financial year
Form ADT-1 Within 15 days of Annual General meeting of the company Every company shall after the appointment of Auditor in the Annual General meeting of the company is required to file with the registrar of companies Form ADT-1 with the registrar of the company
Form MGT-8 Required to be attached in Form MGT-7 by prescribed companies
  • Every listed company or
  • company having paid-up share capital of ten crore rupees or more or
  • a company having turnover of fifty crore rupees or more

shall be required to get a certificate from a practicing company secretary and attach it in form MGT-7

Form MGT-9 Required to be attached in Form AOC-4 Every company is required to file with the registrar of companies the extract of annual return in Form MGT-9, which is required to be attached in Form AOC-4
Form BEN-2 Within 30 days of receipt of form BEN – 1 Every company which has received information from registered owner in Form BEN-1 is required to file with the registrar of companies form BEN-2 with Registrar of companies
Form DPT-3 Upto 30th June every year Every company is required to file with the registrar of companies form DPT-3, the information related to deposit or particulars of transactions not considered as deposit or both
Form DIR-3 KYC / web based KYC Upto 30th September every year Every company is required to file with the registrar of companies Form DIR – 3 KYC or do web based KYC of every director of the company
Form MSME Upto 31st October / 30th April Every company having outstanding payments to MSME’s is required to file with the registrar of companies Form MSME in each half of the Financial year of the company
Minutes of meetings Every company is required to maintain minutes of Board meetings and general meetings held in the company

Event based compliances of the company

Form /Event Time limit Explanation
Form DIR-12 Within 30 days of appointment / resignation / change in designation of director Every company is required to file with the registrar of companies form DIR – 12 for appointment / resignation / change in designation of director of the company
Form PAS - 3 Within 30 days of allotment of shares (Within 15 days of allotment in case of private placement of shares) Every company is required to file with the registrar of companies form PAS – 3 for allotment of shares
FORM SH-7 Within 30 days of approval from shareholders Every company is required to file with the registrar of companies form–SH-7 for increase in authorised share capital of the company
Form MGT-14 Within 30 days of approval from shareholders Every company is required to file with the registrar of companies form MGT -14 for change in objects of the company
Form INC - 24 Within 60 days of new name approval but After approval of Form MGT-14 Every company is required to file with the registrar of companies Form INC – 24 for change in name of the company
Form CHG - 1 Within 30 days of creation / modification of charge Every company is required to file with the registrar of companies form CHG -1 for creation / modification of charge of the company.
Form DIR - 3 As and when Director identification number is required Every company is required to file with the registrar of companies Form DIR -3 for obtaining Director identification number.

New : Checklist Point for Completing the Annual Compliance for Private Start-ups Company :

A start-up which operates as a private limited company must comply with the characters laid down in the various statutes and other administrative bodies. This included, but are not limited to, regular filing of tax as well as other returns, accommodation of board and other meetings, management of approved books of account, etc.

  • TDS & TCS mandatory payment, GST Liability periodic dues payment status:
  • Monthly, quarterly, annual returns- GST, TDS, etc- Non-Registrar compliance of periodic returns,
  • Regular GST Returns Monthly and Quarterly Compliance
  • TDS Returns - Quarterly
  • Assessment of Advance tax liability and Status of advance tax periodically payment
  • Income tax Return filing
  • Tax Audit Report Filing Status
  • Assessment of trade Administrative status under different acts of law (Eg., Factory Act. Money Laundering Act, Environment and Protection Act, Competition Act, etc.)

Process for Annual Compliances

  • Place request with Rajput Jain and Associates for doing the annual compliances of the company.
  • We will assign your request to one of the skilled professional from our team
  • The professional will get in touch with you for taking the required information
  • The professional will prepare the documents and forms for completing the annual compliances of your company on time.
  • The professional will always complete the compliances pro actively before the due date.
  • Our team will intimate to you as and when we will complete the required compliances.

What you will get at Rajput Jain and Associates

We offer all kinds of Consultancy and Compliances Services in relation all kinds of companies. We have empanelled various experts to provide the expert advisory and Compliances services for all types of companies.

The services that we offer includes the following:

  • Advisory relating to annual compliances
  • Preparation of Financial Statement
  • Statutory Audit Report under Companies Act, 2013
  • Tax Consultancy by a Chartered Accountant
  • Income Tax Return Filing
  • Annual ROC Filing by Company Secretary
  • Free tax due-diligence check

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FREQUENTLY ASKED QUESTIONS (FAQ)

  • What is Annual Return?

    Filing of an Annual return is a mandatory for all companies in India. Return must be filed with the MCA along with the necessary documents. Filing of an annual return with the dept. of Income Tax (IT dept.) is different from filing an annual return with the MCA.

  • What information is needed in the annual return?

    Annual return consists in an Annual return i.e.

    • Balance sheet of the company
    • Statement of Profit and Loss
    • Compliance certificate (if necessary)
    • Information of registered office
    • Member’s information
    • Shareholding and shares Information and
    • Director’s Information.
  • Who should sign the Annual Return?

    The Annual return of the Company must be signed by the Directors of the Company and certified by CA / CS / CMA. The financial statements filed along with the Annual return must be audited and signed by a Chartered Accountant.

  • When is the due date for filing Annual Return?

    Annual return in Form MGT-7 is required to be filed within 60 days of Annual general meeting of the company

  • What is the procedure for an Annual Return filing?

    Annual return can be prepared and submitted electronically through the Ministry of Corporate Affairs (MCA) E-Filing portal with the help of Professional. Rajput Jain & Associates Financial Expert can assistance you in e-filing the annual return of your company.

    Annual return under the Companies Act, 2013: each company shall prepare a return (hereinafter referred to as the annual return) in Form No. MGT-7 containing the information as it stood at the end of the financial year.

    Excerpt of an Annual return: An excerpt of an annual return in Form No MGT-9 will form part of the Board 's report.

    Annual return filing: each corporation shall submit a copy of the annual report with the Registrar. For a period of 8 years from the date of filing with the Registrar shall kept the copies of all annual returns, certificates and documents required to be affixed.

  • What is the penalty for non-filing of annual return?

    If any Company fails to submit an annual return with the ROC within the prescribed time limit, the Company shall be liable for payment of the penalty until return is filed. The penalty amount will depend upon the number of days in default until the default runs on.

  • What is the expected due date for the an Annual return filing?

    Annual return is expected to be filled before 6 months from the end of the financial year, or by September 30th. For newly established company, an annual return should be filed with the Ministry of Corporate Affairs (MCA) and an Annual General Meeting (AGM) should be held within 18 months from the date of establishment or 9 months from the date of closing of financial year, whichever is earlier.

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