Annual Compliances for Private Limited Company
Stay compliant with Companies Act regulations through our comprehensive annual filing, meeting management, and documentation services.
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Compliances for Private Limited Company
Corporate compliance in India requires adherence to established regulatory frameworks. Private limited companies must satisfy all mandates set forth by the Companies Act of 2013, which governs director appointments, qualifications, compensation, retirement, and meeting protocols. Annual compliance with the Registrar of Companies is mandatory regardless of turnover or capital. All registered entities, including Section 8 companies, private limited companies, limited companies, and one-person firms, must fulfil year-end obligations such as income tax filings and annual returns. While company registration represents the initial step in business formation, ongoing compliance requirements demand attention. Entrepreneurs often struggle to balance operational demands with complex regulatory obligations, making professional guidance essential for timely compliance and penalty avoidance.
Benefits of Annual Compliance
Every registered company in India must fulfil annual compliance requirements. Here's why you should prioritize compliance and how it benefits your business:
Enhanced Business Credibility
Regular compliance strengthens your company's reputation on the MCA portal, directly impacting government bid success, loan approvals, and client acquisition. Consistent compliance signals trustworthiness to all stakeholders and creates competitive advantages in the marketplace.
Investor Attraction
Investors prioritize companies with strong compliance records, checking MCA filings before committing capital. Timely compliance demonstrates organizational discipline and financial responsibility, making your company significantly more attractive for investment and creating growth opportunities.
Penalty Prevention
Maintaining timely compliance helps avoid escalating financial penalties that affect both the company and its officers. Non-compliant companies risk status degradation, potential deregistration by the ROC, and director disqualification issues that compound over time and divert resources from business growth
Operational Continuity
Proper compliance ensures your company maintains an active status, protecting your business name, legal standing, and operational capabilities. This continuity allows leadership to focus on strategic initiatives rather than remedial regulatory issues, supporting long-term business sustainability.
Our Comprehensive Annual Compliance Services
Here is an annual compliance checklist for companies incorporated in India. The compliances followed by a Private Limited Company are mentioned below:
Financial Statement Preparation & Filing
- Annual Financial Statements: Preparation of balance sheet, profit & loss account, and cash flow statement
- Board Report: Drafting comprehensive board reports including all statutory disclosures
- AOC-4 Filing: Timely submission of financial statements with the Registrar of Companies (ROC)
Annual Return Filing
- MGT-7 Preparation: Compilation of company information, shareholding patterns, and management details
- MGT-7 Filing: Electronic submission with the ROC within 60 days of the Annual General Meeting (AGM)
- Certification: Proper certification of annual returns by practicing Company Secretary for applicable companies
Annual General Meeting Management
- AGM Notice: Drafting and circulation of AGM notice with requisite information
- Meeting Coordination: Assistance in conducting AGM within 6 months from the close of the financial year
- Minutes Preparation: Documentation of AGM proceedings and resolution recording
ROC Compliance Management
- Due Date Tracking: Monitoring of all statutory filing deadlines
- Penalty Avoidance: Proactive compliance to prevent late filing penalties
- Documentation: Maintenance of required statutory registers and records
Secretarial Compliance
- MSME Form: Filing bi-annual returns for outstanding payments to micro and small enterprises
- DPT-3 Return: Annual return of deposits and non-deposits
- BEN-2 Filing: Declaration of significant beneficial ownership
- Director KYC (DIR-3 KYC): Annual verification of director information
Event-Based Compliance Requirements
Beyond regular annual filings, companies must comply with event-specific requirements arising from company structure, leadership, or operations changes. These event-based compliances ensure that the public record maintained by the ROC remains current and accurate.
Common event-based filings relate to:
- Changes in authorized or paid-up capital structure
- Allotment or transfer of shares to new or existing members
- Appointment or resignation of directors and key managerial personnel
- Modification of the company’s registered office address
- Changes to the Memorandum or Articles of Association
- Creation or modification of charges on company assets
Our Compliance Process
01
Initial Assessment
Comprehensive evaluation of your company’s compliance status
02
Customized Planning
Developing a tailored compliance calendar based on your company structure
03
Documentation
Collection and organization of all necessary information and documents
04
Preparation & Filing
Timely preparation and submission of all statutory forms
05
Follow-up
Regular updates and notifications regarding compliance status
06
Annual Review
Yearly assessment of compliance performance and planning for the next financial year
Documentation for Annual Filing
The following documentation is required for corporate annual filing procedures:
- Permanent Account Number (PAN) Card
- Certificate of Incorporation
- Audited Financial Statements or MOA-AOA for private companies
- Independent auditor verification of all financial statements
- Comprehensive Board and Audit Reports
- Valid Digital Signature Certificate (DSC) of at least one current director
Non-Compliance Penalties
Failure to adhere to the Companies Act provisions results in financial penalties and potential legal proceedings. Both the non-compliant company and its officers (including practicing company secretaries and directors) may incur progressive fines for the duration of the compliance default.
Additional financial penalties apply for delayed tax filings or annual documentation submissions. Consequently, timely compliance adherence represents the optimal financial and operational strategy.
Frequently Asked Questions
Generally, you’ll need financial statements, director details, shareholding information, meeting minutes, and transaction records. Our team will guide you through the specific requirements.
The annual return (Form MGT-7) must be filed within 60 days from the date of the Annual General Meeting (AGM). Since the AGM must be held within 6 months of the financial year-end, for companies following the April-March financial year, this typically means filing by November.
Missing deadlines results in penalties that increase with continued non-compliance. The company and its officers (directors) may face fines ranging from ₹100 per day to several lakhs, depending on the compliance requirement. Prolonged non-compliance may lead to company status being marked “Active Non-Compliant” or even strike-off proceedings.
Yes, even dormant companies must file annual returns and financial statements. However, they can apply for “dormant status” under Section 455 of the Companies Act to reduce some compliance requirements.
Companies must maintain statutory registers including the Register of Members, Register of Directors, Register of Loans and Investments, Minutes Books of Board and General Meetings, and proper Books of Accounts.
All private limited companies are required to undergo an annual audit of their financial statements conducted by a qualified Chartered Accountant, irrespective of their turnover or paid-up capital.
No, holding an AGM is a prerequisite for filing annual returns. The annual return includes details of the AGM, and filing without conducting the AGM constitutes non-compliance.
Form INC-22A (ACTIVE) is a one-time filing that confirms a company’s registered office address and other details. Companies failing to file this form are marked “ACTIVE non-compliant” and face restrictions on filing certain forms.
Yes, directors of non-compliant companies can face personal penalties, disqualification from directorship for up to 5 years, and in severe cases, even imprisonment. Director disqualification applies across all companies where the person holds directorship.
Companies with foreign investment must file annual Foreign Liabilities and Assets (FLA) return with the Reserve Bank of India by July 15 each year. They may also need to file Form FC-GPR for reporting foreign investment received and comply with additional FEMA regulations.
Our service fees vary based on your company’s size, turnover, and specific compliance needs. Contact us for a customized quote that fits your business.