Annual Compliance for Private Limited Company

Before we learn about the annual compliance of a private limited company let us first understand its business structure. According to Section 2(68) of the Companies Act, 2013 a private limited company is a privately owned legal business entity. The private stakeholders have complete control over it.

There is no restriction as such. Anyone can set up a pvt ltd company. For instance businesses in the field of rendering plumbing solutions, dentist services, driving solutions, retail stores, etc. This kind of business structure is known to offer several advantages. It also has certain limitations. For detailed information on the company type and annual compliance for a private limited company, you can contact our experienced team at Valcus in Delhi today. 

What is Pvt ltd company compliance and why it is necessary?

A Pvt ltd company unlike other business structures is required to abide by legal compliances to avail certain benefits. It is also necessary to avoid penalties levied by the concerned departments. There is a predefined time period for you to take into consideration for Pvt ltd company compliance in India. 

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You are free to proceed with the company compliance Pvt Ltd by yourself or you can choose to hire a professional consultant to complete the mandatory process. Do not forget that there are varied compliances that you need to abide by. For each, there is essential documentation to be submitted. Knowledge about the different legal compliance processes can ease your task. But if you are not sure or do not have time to do so, it is better to seek expert assistance.

You can contact Valcus to avail of our Pvt ltd company compliance service with satisfactory service assured always.

Know the Mandatory Compliance for Private Limited Company

It is better to expand your knowledge but experts recommend private limited companies seek professional consulting when it comes to mandatory compliance for private limited company in India. A single mistake or missing the last tax filing date can result in legal actions or penalties according to the law. 

The Mandatory Compliances are:

  • Auditor Appointment (Within 30 days)
  • MCA Form AOC-4
  • MCA Form MGT-7
  • DIN eKYC     
  • Income Tax Return
  • Hold Annual General Meeting
  • Director's report
pvt ltd company annual compliances

One should not risk when it is a matter of mandatory compliance for a private limited company. You can take advantage of several benefits meant for the private stakeholders abiding by the legal compliances. Missing important compliance dates can force you to pay heavy fines which can be Rs. 100/day rising up to 1 lakh. Also, if you miss the annual compliances regularly, it can result in a black listing of your company and the directors. 

For a better understanding and professional consulting, you can connect with us anytime. The team at Valcus Pvt. Ltd. in Delhi is at your service 24x7. 

About ROC compliance for private limited company

The company is required to inform the Registrar of the Company about every change that is happening in the company such as a change in name of the company, a change in the object of the company, a change in the Article of Association etc. Apart from all the changes, the company is required to file various forms with the Registrar of Companies (ROC).

For every private company, it is mandatory to file audited financial statements and an annual return with the Ministry of Corporate Affairs for every financial year. Your annual turnover does not make a difference when it is to the ROC filing. It is compulsory and according to the Companies Act, 2013 every organization has to file annual accounts and annual returns. After the conclusion of the Annual General Meeting, it is to be filed within 30 days and 60 days respectively. Also, the audited financial statements under sections 129 and 137 of the Companies Act, 2013 should be filed by every company with the ROC. In the same way, the annual returns must be submitted under section 92 of the Companies Act, 2013 to the ROC.

Statutory Compliance for a Pvt Ltd Company

Statutory Audit Compliance is necessary for every business type. The statutory compliance for Pvt Ltd Company is carried out with the objective to find if a company is sharing correct details of its financial positioning. For the same, the company’s bank balances, bookkeeping records, and financial transactions are examined by the examining body. 

Along with other compliances, annual roc compliance for private limited companies is mandatory. Appointing an experienced consultant for the same is recommended.  

Why take a risk and miss the last date of annual compliance for a private limited company? Visit us online or call us to book the Valcus team for the pvt ltd company compliance every year.   

Frequently Asked Questions

The mandatory compliances include Annual ROC Filings, Income Tax Compliances, Statutory Audit Compliances, Annual General Meetings, Board Meetings, Director's Reports, and more.

The company and the appointed directors are liable to pay the levied penalties if the company fails to file the ROC. There can be other consequences too.

Yes, the statutory audit is mandatory for your private limited company. You are required to get your company books of accounts audited every year.

Under section 92 of the Companies Act, 2013 the annual returns must be submitted to the ROC.

You can connect with our compliance expert for assistance with the filing of annual ROC compliance for private limited companies.

Yes, the Companies Act 2013 makes it compulsory for companies to conduct the annual general meeting (GM).

It is essential to file the annual return within 60 days of the annual general meeting (GM).

At Valcus, we have dedicated professionals experienced in Pvt Ltd company compliance available to serve you at a comparatively low cost.