TAX
PaieOverview of Annual Compliance for Private Limited Company
Annual compliance for a Private Limited Company involves fulfilling mandatory requirements under the Companies Act, 2013. This includes filing annual returns, financial statements, maintaining statutory records, and ensuring corporate governance. Compliance ensures the company remains active and avoids legal penalties.
Who is applicable for Annual Compliance
All registered Private Limited Companies under the Companies Act, 2013Startups, small businesses, and established companies with private limited status
Benefits of Annual Compliance for Private Limited Company
1. Legal Compliance
Ensures the company adheres to statutory obligations and avoids penalties
2. Good Standing
: Maintains the companies active status with the Registrar of Companies (RoC)
3. Enhanced Credibility
Builds trust with investors, banks, and stakeholders
4. Tax Benefits
Enables proper tax planning and utilization of exemptions
5. Avoidance of Penalties
Prevents hefty fines, prosecution, and director disqualification
Documents Required for Annual Compliance for Private Limited Company
- Audited financial statements (Balance Sheet, Profit & Loss Account, etc.)
- Director’s report and auditor’s report
- Digital Signature Certificates (DSCs) of directors
- Director Identification Numbers (DINs) of all directors
- Minutes of Board Meetings and General Meetings
- Details of shareholding structure and related transactions
- Copy of income tax return acknowledgment
- Details of loans, investments, and advances (if applicable)
Step-by-Step Process for Annual Compliance for Private Limited Company
1. Preparation of Financial Statements
Get financials audited by a Chartered Accountant
2. Board and General Meetings
Conduct required meetings to approve accounts and discuss compliance matters
3. Filing of Forms
Form AOC-4,For filing financial statements.Form MGT-7.For filing the annual return.
4. Tax Filing
Submit the company’s income tax return
5. RoC Updates
File any changes in directorship, shareholding, or registered office details (if applicable)
6. Acknowledgments
Obtain filing receipts and confirmations for records
Frequently Asked Questions
What is the due date for annual compliance filing for a Private Limited Company?
Is an AGM mandatory for a Private Limited Company?
What happens if a company fails to comply with annual filing?
Can a company with zero revenue skip compliance?
Are startups required to follow the same compliance rules?
Other Services
ROC Filing
Other Services
Add a New Partner in LLP
Adding a partner to an LLP involves updating the partnership agreement and notifying the Ministry of Corporate Affairs (MCA).
ADT-1 Filing
Filing Form ADT-1 informs RoC about the appointment or reappointment of an auditor within the company.
Annual Compliance for One Person Company
OPC compliance includes filing returns, financials, and forms under the Companies Act,2013.
Annual Filing for LLP
Annual filing for an LLP includes submitting returns, financial statements, and income tax returns to the MCA for compliance.
Company Name Change
Changing a company’s name requires shareholder approval and updating legal documents as per MCA rules.
DIR-3 KYC Filing
DIR-3 KYC filing is mandatory for DIN holders to update details with MCA, ensuring DIN validity and transparency.
DPT-3 Filing Online
DPT-3 is an annual return filing requiring companies to report deposits, loans, or advances, ensuring MCA compliance.
Event Based Compliances
Event-based compliances under MCA involve filings triggered by changes like directors, share allotments, or MOA alterations.
Removal of Partner from LLP
Removing a partner from an LLP requires updating the LLP agreement and notifying the MCA to disassociate the partner.
Share Transfer
Share transfer in a Private Limited Company involves transferring ownership between shareholders, following AOA and Companies Act, 2013.
Get In Touch
Whether you're an entrepreneur just starting out or a business looking for expert tax and GST advice, Taxpaie is here to help. Contact us today to learn more about how we can assist you in navigating the regulatory landscape and achieving your business goals with confidence.
Let us handle the complexities, so you can focus on building your future.