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What is a Annual Compliance?
Annual compliance for Private limited company is mandatory right from the start of its incorporation, a startup becomes subject to different statutory and regulatory compliance. A business registered in India is required to comply with the various annual legal company compliance laid down by the corporate laws such as the Companies Act, 2013. Since a majority of startups are registered as companies, annual compliance for Private Limited company becomes the most asked issue faced by growing businesses. Now our annual compliance for Pvt ltd company service is accessible all over India.
Our annual compliance for Pvt ltd company service is backed by our strong proficiency & experience to complete the statutory requirements of the annual compliance checklist for Pvt Ltd company.
Types of Annual Compliance
The compliance checklist for Pvt Ltd companies are as follows:
• Business commencement to start annual compliance for Private limited company.
• Receipt of MBP-1
• Receipt of DIR-8
• Board meeting (Minimum 4 board meetings every year).
• Holding AGM every year.
• Adoption of financial & board reports for accounting & annual compliance for Private Limited Company.
• Appointment of an auditor, who will maintain the complete annual compliance for Private Limited Company.
• File form ADT-1 of auditor appointment.
• Maintenance of Statutory Registers.
• Annual filing at the end of the year to complete the statutory & accounting formalities of annual compliance for Private Limited Company.
Annual compliance for Pvt Ltd company is often neglected by the business organizations and firms. Due to the strict annual compliance for Private limited company, many organizations get penalized by the concerned ministry. Many organizations even unintentionally forget to maintain the mandatory statutory & accounting formalities required at the time of annual compliance for Private limited company.
Basic Key Points of Annual Filing
• First Board Meeting
First Meeting of Board, along with Directors, is expected to be held within 30 days of Incorporation of Company. Declaration of BM must be sent to each director at least seven days ere the meeting.
• Subsequent Board Meeting
Minimum of 4 Board Meetings to be checked every year with not more than 120 days gap within two meetings
• Subsequent Board Meeting
The BOD shall designate the first Auditor of the Company within 30 days of Incorporation who shall continue the office till the completion of 1st AGM. In the matter of First Auditor, filing of ADT-1 is not necessary.
• Annual General Meeting
Every Company is needed to hold an Annual General Meeting on or before 30th September every year during working hours (9 am to 6 pm). On a day that is not a general public holiday and either at the certified office of the Company within the city, town/ village where the certified office is positioned. A 21 bright days' notice is required to be given for the same.
4,999/-
All Inclusive Fees
| Form AOC-4 |
| Form MGT-7 |
Govt Fees will be charged on actual basis
6,999/-
All Inclusive Fees
| Form AOC-4 |
| Form MGT-7 |
| Form Director KYC |
| Director Appointment/ Resignation (One Time) |
Govt Fees will be charged on actual basis.
7,999/-
All Inclusive Fees
| Form AOC-4 |
| Form MGT-7 |
| Form Director KYC |
| Form DPT-3 |
| Form ADT-1 |
| Director Appointment/ Resignation (Five Time) |
Govt Fees will be charged on actual basis.
Benefits of Annual Compliance Filing in India
By complying with the requirements of the Registrar of Companies and the Ministry of Corporate Affairs, the LLP and partners will increase their reputation in the eyes of the public. Through this process an LLP can increase its compliance requirements. More investors would be willing to invest in an LLP that complies with the requirements of the law
By filing all compliances within a particular period of time, the LLP would be free from any form of compliance requirements. By considering this, an LLP can fulfil its objectives
By complying with the requirements of the authorities, the LLPs would face lesser burden when it comes to compliance requirements. If compliances are not followed up or filed by the LLP, it can be detrimental to the development of the LLP. Hence it is crucial that all the requirements related to compliance are followed by the partners of the LLP
Regular filing of Annual compliance for a private limited company avoids heavy penalties and additional fees in case of non-fulfillment of filing the required forms
In order to ensure the creditworthiness of the company the potential are highly interested in scrutinizing the financial worth of the organization. An investor can directly request the company or check the regular filing status on MCA portal. Hence, potential investors prefer to invest with a company with regular filing of Annual compliance for Private Limited Company
Legal compliance is crucial for every organization. Various participants such as investors, ministry tenders and for loan support purposes, the regular filing of annual compliances for a private limited company plays important criteria to determine the trustworthiness of the company
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
