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Annual Compliance Of PVT LTD

According to the Companies Act, Private Limited, OPC companies and other companies registered under this act need to document their acquiescence with the Registrar of Companies.

The ROC compliances are very essential for the annual company filings. When you register a company with Ministry of Corporate Affairs it is your duty to maintain transparency with MCA related to your company’s affairs.

For that reason government has made it mandatory to make all disclosures with government which is consider as ROC filing for private limited companies. According to the provisions of Companies Act, 2013 and rules made there under, a company can only be operate by complying all applicable sections and rules. Through this Act government has identified all requisite does and don’ts for every company.

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What are compliances to be maintained by the Private Limited Company?

  • Appointment of First Auditor
  • Commencement of Business
  • Director KYC
  • Preparation of Balance sheet and other Financial Statement
  • Filing of Income Tax Return
  • Annual General Meeting
  • Director’s report
  • Auditor report
  • Form AOC-4
  • Form MGT-7

Appointment of First Auditor – within 30 days from registration of company

All registered Indian Companies must appoint a Statutory auditor within 30 days of incorporation. If the company fails to appoint an auditor, the company won’t be allowed to commence business. Also, there is a penalty of Rs. 300 per month.

Filing of INC-20A within 180 days from registration of company.

– For companies registered in India after November 2019, having a share capital, it is necessary to obtain a commencement if business certificate before commencing any business or exercising the borrowing powers. The commencement of business certificate must be obtained within 180 days of incorporating a Company.In case the individual fails to obtain this certificate, there is a penalty of Rs. 50,000 for the company Rs. 1000 per day for the directors for each day of default.

Director KYC

Every director of a private limited company has to submit their updated residential address, current mobile number, and email address to the ROC in form DIR-3(KYC). The filing of directors KYC is mandatory for every person who holds a DIN Number, and if not complied, the DIN gets deactivated.

Preparation of Balance sheet and other Financial Statement

After closing of each financial year company need to close their books of account and maintain financial statement of company such as balance sheet profit and loss account, auditor report, etc for the purpose of updating of compliance for private limited company.

Filing of Income Tax Return

The deadline for filing income tax return (ITR) for financial year 2019-20 has been extended to November 30, 2020 from the normal deadline of 31st July 2020. Non fulfillment will lead to a heavy penalty of Rs.10,000.

Annual General Meeting

Every company need to conduct its Annual General Meeting upto 30th September each year. However in case of first AGM it can be conduct upto 31st December. Thereafter upto 30th September. This is very important compliance for private limited company.

Director’s report

Preparation of the Directors report will be done with all the information required under Section 134.

Auditor Report

An auditor’s report is a written letter from the auditor containing their opinion on whether a company’s financial statements comply with generally accepted accounting principles (GAAP) and are free from material misstatement.

Form AOC-4 

The registered private limited companies must file MCA Form AOC-4 on or before 30th November 2021 for the FY2020-21. Failure to file AOC-4 will attract a penalty of Rs. 200 per day of default or delay

Form MGT-7

It is necessary to file MCA form MGT-7 on or before 31st December 2021 for FY2020-21. Failure to file MGT-7 attracts a penalty of Rs.200 Per day of default or delay.

Frequently Asked Questions​

ROC filing is a mandatory record updation process by MCA as per Companies Act, 2013. Every company need to maintain their records with MCA called ROC Filing.

For checking status of your company’s compliance status, you must visit www.mca.gov.in>check company master data section. If your company has made filing then on your companies master data it will show the date of Annual Filing

For making your company complaint you must provide COI, MOA, AOA, DSC , Bank Statement and other requisite information.

There are so many compliance during the year. Which need to file within their due dates as specified by Companies Act, 2013.

Yes, it is mandatory for you to make ROC filing. Even if you have nil business during the year still you need to filing all the information with MCA which are asking under Annual ROC Compliances.

A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.

For making audit in a Private Limited company, you have to appoint a Chartered Accountant in the company, we do provide ca near me services from our portal kindly contact our professional
Q. What is meant by a private limited company?

Private Limited Company is association of two persons having registration with MCA.

Annual compliance for a private limited company includes all the requirements undertaken by the private limited company to comply as per the rules and regulations. Annual compliance is required for all forms of entities. However every entity has to carry out the requirements related to compliance.

There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits. External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor’s opinion which is included in the audit report.

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