Annual Compliances for
Private
Limited Company
Integrate corporate ethics with knowledgeable Private Limited Company Compliance services.
Served Over 8000 Startups and MSMEs
4.6/5 Google Review
A policy of 100% satisfaction guaranteed
What is the Annual Compliance for Private Company?
A private company is an entity with its own unique identity which needs to file regularly with the MCA to maintain its status as a functioning business Every business must file this audited annual report and financial statement with the MCA for each financial year end. Regardless of the number of participants—zero or millions—a RoC is required. Every listed company must file an annual compliance statement with private limited, whether a transaction has been concluded or not.
The purpose of these documents is to record the fiscal date and activities for the relevant fiscal year. The date of the annual general meeting of the organization determines the annual filing period. If the company fails, it can be struck off the records of the RoC and the directors removed. Furthermore, MCA has been observed to have taken proactive and decisive action in response to any such offence.
ADVANTAGES
Advantages of Annual Compliance
Raising Company’s Credibility
For any company, compliance is a top priority. The date the project submitted the annual report is shown in the Master Data available in the MCA portal. When it comes to comparing government contracts, loan approvals, or applications, an organization’s consistent level of compliance is key to credibility
Attract Investors
Before approving a project, investors want complete financial documentation and information when withdrawing money from a company. Investors have two options: they can review investment information on the MCA portal or speak directly to the company. Moreover, companies with a history of consistent compliance are generally preferred by investors.
Maintain Active Status and avoid penalties
When a enterprise continually fails to report its returns, it enters default status and faces stiff penalties. The enterprise could also be taken out of the RoC or deemed inactive. Additionally, the administrators in query are disqualified and forbidden from holding any future appointments. Starting in July 2018, there might be a further fee of ₹a hundred for every day that the application is delayed till the closing date.
A LIST OF DOCUMENTS
Documents required for ITR filing
Incorporation Document
MoA - AoA of Private Company, and PAN Card are the incorporation documents.
Audited Financial Statements
An independent auditor is required to audit the financial statements.
Audit Report & Board Report
Reports from the board and the independent auditor must be submitted.
DSC of Director
The valid and current DSC of a director has to be supplied.
Do you require help? Fear not—experts are on hand to assist!
Dial : 7060840732 | 9084890415 or send an email to support@rsrindia.com
to reach us.
Dates by which a private limited company must comply
AOC - 4 (Financial Statement)
30 days following the AGM date
MGT - 7 (Annual Return)
Within 60 days following the AGM date
File ITR in 3 Easy Steps
1. Respond to Quick Questions
- Our questionnaires take less than 10 minutes to complete.
- Give the essential information and paperwork needed to convert a proprietorship to a partnership.
- Pay using a safe and secure payment gateway.
2. Experts are Here to Help
- Dedicated Relationship Manager
- drafting the necessary paperwork to be filed
- Getting the Forms Ready for Submission
- Financial statements and other papers can be filed online.
- submission of the company's annual return
3. Annual Compliance is done!
- All it takes is 5 working days*
Process of Annual filing of company
Day 1 - Collection
- Talking about and gathering fundamental data
- Deliver the Necessary Documents
- Determine the Pvt. Ltd. Company's ROC filing deadlines.
Day 2-4 - Preparation
- Preparing the required paperwork
- Including supporting documentation
Day 5 onwards - Filing
- AOC – 4 (Financial Statements) filing
- MGT-7 (Annual Return) filing
Explore Annual Compliance for Private Limited Company
Have inquiries? Look Here for Solutions
Indeed, every registered business requires conformity with the Rules of Civility for Private Limited Companies. The organization is required to adhere to the yearly compliance requirement, regardless of the overall turnover or capital amount. Since the company’s first fiscal year, the annual compliance is due following the AGM.
- Companies who disregard the statutory compliance for Private Limited shall be assessed ₹100 each day of lateness till the actual filing deadline, starting in July 2018. The maximum amount of an extra charge is not set. In addition to the increased government charge, the corporation and its directors may be subject to penalties for ongoing failure, which may include jail time.
- Since the day of establishment, all companies are required to have audited financial accounts. Only the audited statements must be filed by the firm. Furthermore, failing to audit financial statements is not a justification for postponing yearly reporting.
- A business may choose to designate a statutory auditor for a term of five years in a row or until the end of the subsequent AGM. Consequently, it is not possible to include the statutory auditor’s appointment in the yearly compliance process.
- According to the Companies Act of 2013, each financial year’s signed director report must be filed with the MCA by filing the company’s annual return. The Director Report is regarded as an MGT-7 form attachment.
When a Statutory Auditor is appointed or replaced, Form ADT-1 must be submitted.
