Mandatory Annual Compliance For Private Limited Companies In India | Ebizfiling



 

Introduction

 

A company that is a separate legal entity from its directors and shareholders is known as a Private Limited Company in India. There is a requirement of at least 200 members to establish a Private Limited Company. It is governed by the Companies Act, 2013. Every Private Limited Company is mandated by MCA to file mandatory annual compliance or RoC compliance along with income tax returns. It should be filed within the due date fixed to avoid penalties for non-filing of mandatory annual compliance.

 

Mandatory Annual Compliance For Private Limited Companies


Here is a quick list of all the mandatory annual compliances filed by Private Limited Companies in India:

 

1. Annual general meeting: The Annual General Meeting (AGM) of companies must be held within six months of the end of the financial year. The purpose of conducting the AGM is to prepare director's reports, annual returns, financial statements, etc. It is the mandatory annual compliance for a Private Limited Company as without any preparation and authorized signature of the documents the company cannot comply with the rest of the filing with MCA.

 

2. Appointment of auditor: The Private Limited Company is required to appoint a statutory auditor within 15 days of the date of the AGM and submit the ADT-1 Form with the auditor's information. The penalty for delay in filing this form varies on the days of delay like upto 30 days then the fine is 2 times of normal fees or more than 30 days and less than 60 days then the fine is 4 times of normal fees and so on.

 

3. Financial statements: The AOC- 4 Form must be submitted for the filing of the company's financial statements within 30 days of the date of AGM. There will be a fine of Rs. 100 per day for non-filing the AOC-4 Form.

 

4. Annual returns: The MGT-7 Form must be submitted for the filing of the company's annual return within 60 days of the date of AGM. There will be a fine of Rs. 100 per day for non-filing the MGT-7 Form.

 

5. DIN eKYC: It must be filed for each and every director of the company. The Director should include a separate mobile number and a personal email address in DIR eKYC. Failure to submit DIN eKYC will lead to a fine of Rs 5000.

 

6. Director's report: All the information required by Section 134 will be included in the preparation of the Director's report.

 

7. Income tax return: According to the Income Tax Act, 1960 all companies are required to file ITR-6. It must be filed on or before 30th October(for the year 2022). It should be noted that the ITR-6 deadline is constantly shifting and is announced by the authorities each year.

 

Conclusion

 

In the absence of professional guidance, Private Limited Companies frequently experience compliance stress and must incur penalties. Therefore, you must comply with the filing of the annual compliance for Private Limited Company as per the due date announcement by the authorities. Filing annual compliance on time, helps you build goodwill for your company.

 

 

 

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