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Annual Compliances & filing for Private Limited Companies

@ RS. 19999/- ALL-INCLUSIVE FEE

Manage Your Company’s Annual compliance and return from financial statement preparation, annual report, director’s report, board resolution to MCA annual return filing, income tax return filing, auditor appointment, commencement of business filing etc. by our Tax Advisor at just Rs.19999/-

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Annual Compliances for Private Limited Companies

All Private Limited companies in India are governed by the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013. According to this act every company i.e.private limited company, one person company, limited company, and section 8 company post incorporation, has to fulfil some mandatory legal obligations. This includes MCA annual return and income tax return each year.

Before filing annual return, the company must conduct an Annual General Meeting at the end of each financial year. For newly incorporated Companies, the Annual General Meeting should be held within 18 months from date of incorporation or 9 months from the date of closing of financial year, whichever is earlier.

Annual filing of the company includes all the documentation related to the filing of financial statements and Annual return which consists of information that includes the Financial Statements of the company, Certifications(if any) Registered Office Address, Shares and Debenture details, Register of Members, Debt details and information about the Management of the Company.

The annual return would also disclose the shareholdings structure of the Company, changes in Directorship and details of the transfer of securities. Private limited companies, limited companies and one person companies would be required to file Form ITR-6. Dormant companies with no transactions are also required to file income tax return each year.

Companies are also required to mandatory file returns for GST, TDS, ESI, PF and other related to the line of business

Benefits of Filing Mandatory Compliances for Private Limited Company

 Government Compliant Company
 Improved Operational performance
 Best Practices
 Business growth forecast, feasibility studies etc.

Private Limited Company Compliance Due Dates and Penalty

Required Compliance Due Dates Penalty for Non-compliance
1. Issue of Share Certificates The company must issue the Share Certificates to its shareholders within 2 months of its Incorporation or new allotment.

• Company: Penalty from Rs. 25,000 which may extend to Rs.500,000.
• Directors: Penalty from Rs. 10,000 which may extend to Rs. 100,000.

2. Commencement of Business Certificate Companies registered in India after November 2019 and having a share capital are required to obtain commencement of business certificate within 180 days of incorporation of the company.

• Company: Penalty of Rs. 50,000 which may extend to Rs.500,000.
• Directors: Penalty of Rs. 1,000 per day for each day of default.

3. Statutory Registers 7 to 8 Mandatory Registers to be maintained and updated from time to time

• Company: Penalty of Rs. 50,000 which may extend to Rs. 3,00,000.
• Further: Penalty of Rs. 1,000 day for each day of default.

4. Auditor Appointment ADT-1

• All companies registered in India must appoint a statutory Auditor within 30 days of incorporation.
• The Auditor Appointment (ADT-1) to be filled within 15 days from the AGM.

• Penalty: Rs.300 per month and the company would not be allowed to commence business.
• Additional ROC Filing Fees: Upto 12 times of normal filing fees for ADT-1 (Depending on the Delay time) .

5. Board Meeting Compliances

• 1st Board Meeting should be held within 30 days from date of incorporation.
• Atleast 1 board meeting to be held in each quarter of the financial year including register maintenance for minutes of meeting, notice of Meeting, attendance register of every meeting.

• Company: Penalty from Rs. 25,000.
• Director: Penalty of Rs. 5,000
• Non-compliance: in Issue of Notice of Meeting, Director shall be liable to a penalty of Rs. 25,000.

6. Annual General Meeting (AGM) Compliance

• AGM is mandatory to be held every year.
• Minutes of AGM to be prepared and Notice of AGM should be given in advance.
• Attendance Register of every General meeting to be maintained.

Default in holding AGM:

• Company: Penalty upto to Rs. 1,00,000.
• Director: Penalty of Rs. 5,000 day for each day of default.

Minutes Book Maintenance:

• Company: Penalty upto to Rs. 25,000.
• Director in default: Penalty of Rs. 5,000 day for each day of default.

7. MCA Form AOC-4 Every company is required to file its Financials(AOC-4) with the ROC within 30 days of AGM or before 30th November of following AY.

• Penalty: Rs.200 per day of default or delay or Upto 12 times of normal filing fees for AOC-4 (Depending on the Delay time) .
• Company: Penalty of Rs. 50,000 which shall extend to Rs. 5,00,000.
• Director in default: Punishable with imprisonment upto 6 Months or with Minimum penalty of Rs. 50,000 which may extend to Rs 5,00,000 or with both.

8. MCA Form MGT-7 Every company is required to file its Annual Return(MGT-7) with the ROC within 60 days of AGM or before 31st December of following AY.

• Penalty: Rs.200 per day of default or delay or Upto 12 times of normal filing fees for MGT-7 (Depending on the Delay time) .
• Company: Penalty of Rs. 50,000 which shall extend to Rs. 5,00,000.
• Director in default: Punishable with imprisonment upto 6 Months or with Minimum penalty of Rs. 50,000 which may extend to Rs 5,00,000 or with both.

9. Income Tax Return Private limited companies registered in India must file Income Tax Return on or before 30th September of following AY. Penalty: of Rs.10,000.
10. DIN eKYC DIN eKYC or DIR-3 eKYC form must be filed for all the Directors of the company providing and verifying a unique personal mobile number and personal email address. Penalty: of Rs.5000 per DIN

Documents Required For Private Limited Company Compliances

Copy of MoA, AoA
Copy of board resolution
List of shareholders with holdings
Bank Statments
Details of board composition
Disclosure under MSME development Act (if applicable)

Secreterial Audit Report
Last year's tax return
Particulars of penalties or compounding offences (if applicable)
Statement of receipts and payments when no regular books are maintained
TDS- Form 26AS related data
Other business related documents (In case of business)

In case of business,you are required to share Business or Profession Details,Business Expenses, Business Loan, and Books of Accounts (if available), Investments, Sales and Purchase Details, Any other incomes, Investments or Savings details .

For further queries kindly refer our FAQ section

Stages For Private Limited Company Compliance through Legal Munshi

Our team of experts will cover the following compliance requirements as mandated by the Ministry of Corporate Affairs.

Stage 1. Board of Directors meeting facilitation :

The first meeting has to be conducted within 30 days of business incorporation after which four meetings shall be held every quarter in a calendar year. There should not be more than 120 days of gap between two consecutive meetings.

Our team keeps track of the board meetings and provides assistance related to it.

Stage 2. Preparation of Minutes of Meeting :

Every company needs to file its minutes of meeting maintained at the Registered Office and should be documented permanently in case of any dispute.

Stage 3. Issuance of share certificates :

The company is required to issue share certificate to the subscribers of memorandum within 60 days of incorporation.

Stage 4. Filing of Disclosure of Director’s Interest and Declaration of Disqualification :

In the first Board Meeting, all the Directors are required to give disclosure about their interest in other business entity.

Stage 5. Declaration of Commencement of Business with ROC :

Form INC 20A mandatorily needs to be filed within 180 days from incorporation.

Stage 6. Annual General Meeting :

A company shall conduct at least one AGM each year. The first Annual General Meeting shall be held within nine months from the closing of the first financial year of the company. In other cases, it shall be within six months from the closing of the financial year.

Stage 7. Annual Return :

Annual Return companies have to be e filed with the RoC within 60 days of the conclusion of AGM.

Stage 8. Quarterly compliance :

Every company has to hold a minimum of four meetings of its board of Directors, that is, at least one board meeting every quarter of the calendar year.

Stage 9. Statutory registrations :

All statutory registrations like GST, PF, ESI, etc. must be made along with the above compliances based on your line of business.

Avail registration for GST, PF, ESI, IEC,MSME / Udyog Aadhaar

Procedure for Online Private Limited Company Compliance with Legal Munshi

Step 1 : Complete Our Simple Online form

You have to provide the details in the form.

Step 2 : Submit all the documents

Submit all the required Documents and information for further process. Check the required documents here.

Step 3 : Expert Guidance

Once you have provided the details, our expert will guide you with the further filing process.

Step 4 : Online Filing

After submission and upon successful verification of all the required documents, one of our experts will do the necessary filing.

Step 5 : Congratulations!!!

Once the filing is done we will inform you and provide the necessary documents.

Pricing and Packages

Starter

Rs.19999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.25 lakhs. Inclusive of government fee and GST.

Economy

Rs.29999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.50 lakhs. Inclusive of government fee and GST.

Elite

Rs.39999/-

All inclusive Fees

Financial Statement Preparation, Annual Report, Director's Report, Board Resolution Preparation, MCA / ROC Annual Return Filing, Income Tax Return Filing, Commencement of Business Certificate For companies with a turnover of upto Rs.100 lakhs. Inclusive of government fee and GST.

Here’s how we can help you get rid of all accounting & book-keeping related complexities.

Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors.

FAQs on Annual Private Limited Compliances and Filing

What is annual private limited company compliances?

Know more about company annual filing here.

What are the benefits of annual private limited company compliances?

You can get the details about it here.

What documents are required for the registration?

Refer to the required documents list here.

Does a company needs to fulfil compliances even when there is no transaction?

Every company irrespective of the number of transactions has to get the compliance filings done.

What are the different forms to be filed with the RoC every year?

Balance sheet and Annual Returns have to be filed once a year. Along with this, companies have to file Form 3 if there is Return of Allotment, Form No INC-22. If there is a change in the Registered Office; Form No DIR-12 for Change of Directors; etc.

What are the due date for annual private limited company compliances?

Different forms have different due dates,refer to the compliance related due dates here.

Can a person be Managing Director in two companies?

As per The Companies Act 2013, one person can be the managing director in up to 2 companies at the same time.

How To Go For Annual Compliances For Private Limited Companies with Legal Munshi ?

It very simple, follow the steps mentioned here. and our expert will guide you through the entire process. We offer attractive packages for annual compliance. Refer to the pricing details here.

What are the penalty for not filing Annual Compliances

Different forms have different due dates and penalties,refer to the penalty related details here.

What are the other filings to be done?

Apart from the ROC and Income tax filing, companies are required to file return for GST, TDS, PF, ESI etc. depending on the nature of business and registrations.
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