ROC Annual Filing

    Introduction     If a company does not eligible for an exemption under Section 11 of the Income Tax Act of 1961, it must file an ITR 6 Form electronically to file its income tax returns. It is an annual compliance for a Private Limited Company . The companies that receive income from real estate held for charitable or religious purposes are eligible to seek an exemption under Section 11 ((Income from property held for charitable or religious purposes) of the Income-tax Rules. Therefore, companies that do not claim tax exemption under section 11 have to file an ITR 6.       What is ITR 6 form?     The ITR 6 form is an electric form filed by companies that do not claim an exemption under section 11 of the Income Tax Rules. It is a form that represents the company's income and expenses for the specific year. It is a mandatory compliance that a Private Limited Company has to file annually.     Who is qualified for filing ITR 6 form?...

      Introduction     The Annual General Meeting must be conducted within 6 months from the closure of the financial year i.e., 30th March every year. Once the AGM is concluded, the Private Limited Company compliances must file annual returns, financial statements, DIN eKyc and any other compliance with the Registrar of the Company .     What is a Private Limited Company?     A Private Limited Company is a separate legal entity from its directors or shareholders. For it to remain operational, it needs to be kept in check by submitting regular paperwork to the Ministry of Corporate Affairs (MCA)     Annual Compliance for Private Limited Company     1. Conduct an Annual general meeting (AGM)   Companies should hold their AGM within six months from the closure of the financial year. T he AGM should be conducted with the purpose of preparing financial statements, annual returns, director's reports, etc.   2. Appoin...

    Introduction     The Private Limited Company is obliged to file certain annual compliance after the end of each financial year. Annual compliances for Private Limited Company are less as compared to other companies such as Public Limited Companies, and One Person Companies. In this blog, we will talk about annual compliances such as annual returns, ITR, financial statements, etc.       What is the company’s annual filing?     The term "Company Annual Filings" refers to the filing of audited annual financial accounts, directors’ reports, and an annual return of the company with the Registrar of Companies.  Every registered company, whether it is engaged in business or not, must submit these annual filings.     Benefits of company annual filing     Avoid legal consequences such as additional costs, fines, and detention.   In the eyes of law, it will serve as confirmation or proof of your existence and tim...