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Annual Compliances of Private Company

A company is a separate legal corporate entity and is operated by legal rules and procedures given under the Companies Act 2013.

ROC is also known as Registrar of Companies under the Ministry of Corporate Affairs looks after the compliances of Companies under its jurisdiction. Every Pvt. Ltd. company irrespective of its size has to file returns and documents to comply with the legal requirements given in the Act and is known as ROC compliances.

Failing to comply with rules & guidelines can attract a hefty penalty on the company and their stakeholders

Key components of annual compliances

1. Filing of DIR- 8

As per Section 164(2) of Company's Act 2013 Every Director of the Company in each Financial Year will file with the Company disclosure and non-disqualification.

2. Filing of MBP-1

As per Section 184(1) of Company's Act 2013 Every Director of the Company in First Meeting of the Board of Director in each Financial Year will disclose his interest in other entities under (Form MBP-1).

3. Filing of MGT-7

As per Section 92 of Company Act 2013, Every Company will file its E-form also known as Annual Return within 60 days of holding MGT-7 Annual General Meeting. Annual Return will be for the period 1 st April to 31st March.

4. Filing of AOC-4

As per Section 137 of Company Act 2013, Every Company is required to file its Balance Sheet along with a statement of Profit and Loss Account and Director Report in this form.

5. Preparation & Filing of Financial Statements along with Form AOC-4

Balance Sheet, Statement of Profit & Loss Account (Including Consolidated Financial Statement), Directors’ Report, Auditors’ Report, Cash Flow Statement and Notice of AGM.

6. Preparation of Director Report

As per Section 134 of Company Act 2013, Directors’ Report will be prepared by a mention of all the information required for Small Company.

7. Circulation of Financial Statement

As per Section 136 of Company Act 2013, Company will send to the members of the Company approved Financial Statement (including consolidated Financial Statement), Cash Flow Statement, Directors’ Report and Auditors’ Report at least 21 clear days before the Annual General Meeting. (Except in case of AGM is called on Shorter Notice).

8. Scheduling of Annual General Meeting

As per Section 136 of Company Act 2013, Every Notice of Annual General Meeting will be prepared SS-II as per Section 101 of Companies Act 2013 and Secretarial Standard – II.

9. Scheduling Board Meetings

As Per Section 173 of Company Act 2013 & Secretarial Standard – I, Every Company shall hold a minimum number of FOUR meetings of its Board of Directors every year in such a manner that maximum gap between two meeting should not be more than 120 (One hundred twenty) days. The company should hold at least 1 (one) Board Meeting every quarter of the calendar year.

10. Filing of ADT-1

As per Section 139 of Company Act 2013, Every company needs to appoint of Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for a 5-years appointment. After that, every year in AGM shareholder will ratify the Auditor but there is no need to file ADT-1.

11. Preparation & Filing of Annual Return

As per Section 92 of Company Act 2013, Annual Return of Private Company (Except Small Company) should be signed by Company Secretary in Practice.

Documents required for Annual Compliances of Private Company


Memorandum of Association

Articles of Association.

DSC and DIN of Directors.

Incorporation Certificate.

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PACKAGES


Basic

13999 /-
Inclusive all taxes

Auditor appointment
Preparation of Financial statements
Audit of your Company
Annual ROC Filing
IT return filing

Premium

17999 /-
Inclusive all taxes

Auditor appointment
Preparation of Financial statements
Audit of Your Company
Annual ROC Filing.
IT return filing.
Commencement of Business form.
DIR 3 KYC form.
Maintenance of minutes.
Statutory registers.

Standard

15999 /-
Inclusive all taxes

Auditor appointment.
Preparation of Financial statements.
Audit of Your Company.
Annual ROC Filing.
IT return filing.
Commencement of business form.
Maintenance of minutes.

Note:

  • The above fees is for a company with a turnover of less than Rs 10 lac per annum.
  • The package included GST return filing upto 50 transactions at a single time in a relevant period.

Compliance’s Mandatory for Private Limited Companies



  • Appointment of Auditor : A private limited company would need to incorpora te a individual auditor or an firm to take care of all the financial filings annually, Who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting And thereafter till the conclusion of every sixth meeting.
  • Registers to be Maintained : All the companies belonging to the Private limited category are expected to have statutory records maintained update for the following members, charges, loans and investments. The above would give an overview of how active the company has been on yearly basis.
  • Statutory audit of the Accounts : Every Private limited company has to prepare its records on annual financial records, once the financial records and statements they must be produced to the registrar and is done to stay legal.
  • Preparation of Board's Report : A report by Board of Directors prepared required to be laid before members in Annual General Meeting. The meetings need to be logged and the signed minutes need to be maintained at the Registered Office.
  • Copy of the Annual Return to be filed with Registrar : Every company shall file with the registrar a copy of the annual return Within sixty days from the date on which the annual general meeting is held Where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held (i.e.30th September) together with the statement specifying the reasons for not holding the annual general meeting.
  • Copy of financial statement to be filed with Registrar : All private limited companies shall file a copy of the financial statements in E-form AOC-4 within 30 days from the date on which the annual general meeting is held.
  • Holding Board Meeting : Every company should hold meeting with the board members at least twice an year and the gap between both the meetings should not be more than 90 days.
  • Holding Annual General Meeting Every company other than a One Person Company shall in each year hold Annual General Meeting on or before 30th September by giving not less than clear twenty-one days notice to all the members, directors and auditor. Where no annual general meeting is held in any year within 30 days from the date on which the annual general meeting should have been held.

Event Based Compliances

These are triggered based on happening of certain events.

Receipt of share application money.

Allotment of shares.

Transfer of shares.

Appointment/Resignation of directors.


Appointment of Managing Director/ Whole Time Director.

Executing agreement with related parties.

Change in the Bank signatories.

Change in the statutory auditor.

Failing to stay complaint


  • The actual regulations are followed by the Companies Act 2013 and any company failing to stay complaint would result in the company being induced to payable fines based on the type of failure to the law the company had or at certain cases it could even lead to imprisonment.

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