Annual Compliance Of Pvt Ltd Company
₹ 7999 /-
Annual Compliance Registration of a Pvt. Ltd. Company
One of the highly recommended small enterprises in India, particularly for startups, is a Private Limited Company, which is run privately. The Companies Act of 2013 governs the registration of private limited companies in India. A private corporation must have a minimum of 2 shareholders and a maximum of 200 members, per the Companies Act of 2013. The personal assets of members or shareholders of a private limited company are not susceptible to sale in the event of a financial danger, thus they should have minimal responsibility.
Annual Compliances for Private Limited Company
Board Meeting
Disclosure by director
Annual General Meeting
Commencement of Business
500
Clients
10
CA/CS
4.9
Customer Rating
99.9
Customer's Satisfaction
Benefits of Annual Compliance
Confusion in business ethics can be avoided with professional advice and assistance from TODAYFILINGS for Private Limited Company Compliance. Keeping us on your team is equivalent to having a separate professional team in charge of a Pvt. Ltd. company's annual compliance, ROC filing, ITR filing, and regular MCA filings to maintain the company's active status.
Increase The Company’s Credibility
Attract Investors
Maintain Active Status
Exemption to donors
Checklist of Annual Compliance for Private Startups
Documents needed for Indian Subsidiary Company Registration
GST Liability
Payment of recurring filings and payments: GST Liability, TDS & TCS Mandatory Payment.
Annual Return
Periodic returns compliance by non-registrars - ( Annual returns, quarterly, monthly,- GST, TDS, etc..)
Tax Audit Report
Filing of the tax audit report by a certified and experienced accountant.
Income Tax Returns
Filing income tax returns with an additional 30% flat tax for education cess.
Advance Tax
Periodic assessment and payment of the advance tax payments.
Annual Compliance
Monthly/quarterly GST returns and quarterly TDS returns for your business.
Registration Procedure
The following are some of the essential contracts that a private limited corporation must have:
Annual Requirements for a Private Limited Company
The first meeting of the board must be held within a month or thirty days of incorporation and must include all of the company's directors. Each director of the corporation must receive formal notice of the declaration of the board meeting at least seven days prior to the meeting.
Subsequent Board Meetings
Every year, the board must hold a minimum of four further meetings with a 120-day interval between them. Directors of the company must each submit a statement acknowledging any conflicts of interest at:
First Auditor
Within 30 days of incorporation, the Board of Directors must appoint the company's first auditor, who will hold the position until the conclusion of the first annual general meeting. The filing of an ADT-1 is not required in the case of the First Auditor.
Subsequent Auditor
In the first annual general meeting (AGM) of a private limited company, the BOD shall appoint the Auditor Auditor, who shall hold the post until the conclusion of the sixth AGM, and shall notify the ROC by submitting ADT-1. Within 15 days of the designation, Private Limited Company information, not Auditor Auditor information, must be submitted on Form ADT 1.
Statutory Audit Of Accounts
At the end of each financial year, every Private Limited Company must prepare its reports of accounts and acquire the correct audited by a Professionals/Chartered Accountant. To submit the firm to the Registrar, the Auditor must include an Audit Report and the company's audited financial statements.
Annual General Meeting
Every Private Limited Company is expected to schedule an Annual General Meeting within regular business hours on or before September 30th of each fiscal year. On a day that is not a general public holiday, or at the private limited company's registered office in the village, town, or city where the registered office is located. For the same, a notification of 21 bright days is required.
Filing Of Annual Return (Form MGT-7)
Within 60 days following the Annual General Meeting's operation, all Private Limited Companies are required to submit their Annual Returns. The company's annual return must be completed between "1st April and 31st March" of each year.
Filing Of Financial Statements In (Form AOC-4)
Each private Limited Company must submit their "Balance Sheet" along with a statement or report of the "Director Report" and the "Profit and Loss Account" in this Form within 30 days of delaying the "Annual General Meeting."
Other Requirements of Annual Compliance
The Private Limited Company should file this, making sure to include all the pertinent information that a Small Company is obliged to provide under Section 134.
keeping up with the accounting records and statutory registers
Statutory Registers, including the Directors and KMP, the Register of Members or Shareholders, the Register of Beneficial Owners, the Loans, Contracts and Arrangements or Deposits, the Loans, Contracts and Arrangements or Deposits, and so forth. Along with this, it is also necessary to maintain and keep up-to-date the ROC file, the books of accounts, the financial statements, the AGM or annual general meetings, and other meeting minutes.
The other documents and the annual financial statements
The Private Limited Company should make sure that it has distributed or sent the annual financial statement, along with other papers like the Directors Report and the Auditors Report, to the members at the conclusion of the fiscal year, at least 21 clear days before having the AGM.
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Frequently Asked Questions
Certificate of Incorporation, PAN Card, MoA, and AoA of Private Limited Company are all included in the incorporation documents.
Financial statements that have been audited Independent auditors should audit financial statements.
It is also necessary to have a board report and an independent auditor's report.
Digital Signature Certificate (DSC) or DSC of Director: One of the directors must produce a valid and current DSC or DSC.
For the appointment or removal of the Statutory Auditor, Form ADT-1 must be submitted.
A firm has the option of choosing to name a statutory auditor for five consecutive years or through the conclusion of the following AGM. A designation of the statutory auditor, however, is not considered to be a "annual compliance."
Yes, after a company's establishment, audited financial statements are a requirement. Only the audited financial and administrative records must be filed by the company. Additionally, the failure to audit the financial statements is not a reason to postpone the annual submission.
Yes. Every registered firm must comply with the RoC for "Private Limited Companies." The entity must adhere to the yearly abidance mandates, regardless of the annual turnover or capital amount. Every financial year, following the entity's AGM, the "annual compliance" is due.
A company can appoint a statutory auditor either for five consecutive years or till the conclusion of the next Annual general meeting. Therefore, an appointment of the statutory auditor cannot be considered as a part of annual compliance.
A company is required to maintain the compliances once the company is incorporated. The auditor is to be appointed within 30 days. Additionally, there is income tax filing and annual return filing that is to be done every year.
The annual general meeting (AGM) is held for the management and the shareholders to interact with each other. The Companies Act,2013 makes it compulsory to hold meetings to discuss the yearly results and appoint auditors.
The statutory audit as the name suggests is a mandatory audit for all companies. All the entities that are unregistered under the Companies Act as Private or Public Limited Companies need to get the books of accounts audited every year.
The Private Limited Companies are required to file the annual accounts and the returns that disclose the details of the shareholder and the directors to the ROC.
