Annual Compliance Services for PVT & LLP Company

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Ideal for handling only the mandatory annual compliance

₹24,999 /onwards

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Ideal for handling the mandatory annual compliance + GST compliance

₹34,999 /onwards

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Comprehensive package that covers company annual, GST & statutory compliance

₹49,999 /onwards

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Annual Filing of Company - An Overview

Company compliance is an important aspect that has to be taken into account while running a business. It is mandatory to adhere to all the ROC compliance to avoid penalties. All private limited companies, one-person companies, limited companies, and section 8 companies must maintain annual compliance with respect to the Companies Act of 2013. These company compliances are usually independent of the total turnover or the capital amount involved. The ROC compliance for registered private limited companies is mandatory. Not being able to adhere to the annual compliances for private limited companies may result in serious action on the firm.

In reality, it is tough to maintain all the annual compliances for private limited companies. That is why Vakilsearch is here to help with the annual filings of companies and provide information regarding company compliances.

Annual Compliance for Private Limited Company

Similar to other businesses, the annual compliance of private limited companies should be taken seriously. All the company compliances should be filed on or before the due date. Here are some of the private limited company compliances that you should not miss.

1. Business Commencement Certificate

As a part of the annual compliance for private limited companies, it is mandatory to have a business commencement certificate within 180 days of company incorporation. This applies to companies registered after November 2019 and having a share capital.

Penalty for not following this annual compliance: If you fail to procure the certificate of commencement, the company will be subjected to a penalty of ₹50000 and the director should pay ₹1000 for each default day.

2. Appointing an Auditor

Within 30 days of incorporation, an auditor must be appointed as per the ROC compliance. The annual filing of a company should include all of this information.
Penalty for not following this annual compliance: Breaching this private limited company compliance results in a fine of ₹300 per month.

Subsequently, the company will not be allowed to conduct business until they appoint an auditor.

3. Filing ITR returns

For private limited companies, this annual compliance is crucial. Every year the income tax returns have to be filed on or before the due date.

4. Submitting MCA Form AOC-4

Private limited companies must submit form AOC 4 to the MCA to adhere to the annual compliance. This has to be completed on or before 13 November.
Penalty for not following this annual compliance: Failure to file this form will result in a penalty of ₹200 per day of default.

5. Filing MCA Form MGT-7

Private limited companies must submit form AOC 4 to the MCA to adhere to the annual compliance. This has to be completed on or before 13 November.

Penalty for not following this annual compliance: Failure to file this form will result in a penalty of ₹200 per day of default.

6. Filing for DINeKYC.

As per the ROC compliance, every private limited company should have a director. To perform all the tasks without difficulty, a Director Identification Number (DIN) is required. The director of the company should file DIN eKYC within the speculated period.

7. Hold Annual General Meetings (AGM)

This is crucial for annual compliance for private limited companies. During the annual filing of companies, all information about the AGM should be provided. It is required to hold an AGM within six months of the end of the fiscal year by ROC compliance.

8. Directors Report

Private company compliance involves providing director reports on time with the ROC and MCA. All the information should be submitted without fail as per Section 134.

Other Annual Compliances for Companies

Apart from the above mentioned company compliances the following should also be completed from time to time.

Frequently Asked Questions (FAQs)

A Digital Signature Certificate (DSC) is the digital equivalent of a physical signature, used to validate the identity of the signer on electronic forms and documents. It is commonly used for secure online transactions and authenticating documents for the Ministry of Corporate Affairs (MCA), Income Tax e-filing, and other regulatory bodies under the Government of India.

A DSC is essential for individuals and businesses engaging in online filings and documentation, including company registration, income tax filings, and foreign trade transactions. It ensures the authenticity of the documents by validating the identity of the signer.

The Ministry of Corporate Affairs (MCA) requires a DSC for users to access MCA services, including company incorporation, annual filings, and other business documents. The DSC acts as a valid signature on electronic submissions, eliminating the need for physical documents and ensuring secure digital interactions.

The authenticity of a DSC is guaranteed by a Trust Service Provider or a trusted third party, approved by the Government. This ensures the identity of an individual signing the document, adding a layer of security to digital transactions.

A DSC can be used to sign a variety of business documents, including financial services agreements, forms for MCA services, tax filings, and other official documents in electronic format. It is also compatible with popular file formats like Microsoft Word and PDF, facilitating easy digital signing.

A DSC, issued by a trusted third party, securely encrypts the signer's personal information and validates the identity of the signer. This encryption helps protect sensitive data and ensures the authenticity of the documents signed digitally.