Annual Compliances for Private Limited Company

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Annual Compliances for Private Limited Company

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What is the Annual Compliance for Private Company?

A Private Company is an entity enjoying a separate identity which requires maintaining its active status through the regular filing with MCA. For every company, it is compulsory to file an annual return and audited financial statements with MCA for every financial year. The RoC filing is mandatory irrespective of the turnover, whether it is zero or in crore. Whether a single transaction is undertaken or none, annual compliances for private limited are mandatory for every registered company.

Both the forms are filed to report the activities and financial date for concerned Financial Year. The due dates for annual filing of a company are based on the date of the Annual General Meeting. The continuous failure may lead to the removal of the company’s name from RoC’s register, including disqualification of directors. Also, it has been observed that MCA has actively taken bold steps for dealing with any such failures.

Benefits of Annual Compliance

Documents required for Annual Filing of company

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Due Dates of compliance for Private Limited Company

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*Subject to Government Processing Time

Process of Annual filing of company

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Frequently Asked Questions

Yes, RoC compliance for Private Limited Companies are necessary for every registered company. Irrespective of the total turnover or the capital amount, the company must comply with the annual compliance requirement. The annual compliance is due after the AGM of the company since its first financial year.

Since July 2018, companies failing to follow the statutory compliance for Private Limited will be charged ₹100 for each day of a delay till the actual date of filing. There is no ceiling limit to an additional fee. For continuous failure, penalty apart from the additional Government fee can be levied on both – company and directors, including the imprisonment.

Audited financial statements are necessary for every company since its incorporation. The company must file the audited statements only. Also, non-audit of financial statement is not an excuse to delay the annual filing.

A company can opt to appoint a statutory auditor either for a period of five consecutive years or till the conclusion of next AGM. Therefore, an appointment of the statutory auditor cannot be considered as a part of annual compliance.

As per Companies Act, 2013 it is mandatory to submit the signed Director Report for every financial year with MCA by filing an Annual return of the company. The Director Report is considered as an attachment for the form MGT-7

Form ADT-1 is required to be filed for appointment or replacement of Statutory Auditor.

MGT-9 is an attachment to the company’s director report which is an extract of MGT-7 and addresses the following :
1. Registration and other details like CIN, date of incorporation, companies name and address of a registered office
2. Principle business activity of the company
3. Of holding, subsidiary, and associate companies
4. Shareholding pattern
5. Indebtedness of the company
6. Remuneration of managing directors, directors and/or manager, and key managerial personnel.
7. Penalties/ Punishment/ Compounding of offense

Such intimation can be made through filing MGT-7 by the company.

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Annual Compliances for Private Limited Company

Blend in business ethics with expert services for Pvt.Ltd. Compliance
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