Annual Compliance
Compliance for Private Limited Company in India
Compliance refers to adherence to laws, regulations, prescribed procedures, and legal obligations. For a Private Limited Company incorporated in India, compliance with the Companies Act, 2013, along with applicable tax and labor laws, is mandatory. This includes timely filings with the Registrar of Companies (RoC), conducting statutory meetings, maintaining records, and fulfilling various other legal obligations.
Irrespective of turnover or capital, every Private Limited Company must comply with these statutory requirements to maintain its legal standing and avoid penalties.
Key Annual Compliances for Private Limited Companies
Compliance | Description | Due Date |
INC-20A: Declaration of Commencement of Business | Mandatory declaration to start operations. | Within 180 days of incorporation |
Appointment of Auditor (Form ADT-1) | Appointment of the first auditor within 30 days; ADT-1 to be filed within 15 days post-AGM. | Within 15 days of AGM |
Board Meetings | At least 4 board meetings per year; the first within 30 days of incorporation. | Ongoing as per schedule |
Annual General Meeting (AGM) | First AGM within 9 months of financial year end; then annually with max 15 months between AGMs. | Within 9 months of FY end |
AOC-4 | Filing of financial statements with RoC. | Within 30 days of AGM |
MGT-7 | Filing of annual return with details of shareholders and directors. | Within 60 days of AGM |
DIR-12 | For appointment or resignation of directors. | Within 30 days of event |
DIR-3 KYC | Annual KYC filing by directors. | By September 30 |
DPT-3 | Return of deposits and certain financial transactions. | By June 30 |
Directors’ Report | To be signed and circulated before the AGM. | At least 21 days before AGM |
MGT-14 | Filing of resolutions (e.g., approval of financial statements, board reports). | Within 30 days of resolution |
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In addition to annual filings, companies must file specific forms and resolutions based on particular corporate events. Common scenarios include:
- Increase in authorized or paid-up share capital
- Allotment or transfer of shares
- Appointment or resignation of directors or key managerial personnel
- Change in registered office address
- Change of bank account or authorized signatory
- Change of statutory auditor
- Loan transactions with directors or related entities
Note: Non-compliance with event-based filings may attract heavy penalties or disqualification of directors.
Failure to comply with statutory requirements can lead to:
- Monetary penalties and interest
- Additional late filing fees
- Disqualification of directors
- Legal prosecution in severe cases
Timely compliance helps avoid legal risks and maintains the credibility and reputation of the company.
Beyond RoC filings, companies must also fulfill various non-MCA compliance obligations:
- GST Returns: Monthly/quarterly and annual GST filings
- TDS/TCS Compliance: Deduction, deposit, and quarterly filings
- Income Tax Returns: ITR filing and tax audits as applicable
- ESIC & PF Returns: Mandatory for companies with eligible employees
- Professional Tax: As applicable in specific states
- Industry-Specific Regulations: Environmental, labor, or sectoral compliance
- Automated Compliance Tracker: Never miss a deadline with intelligent reminders.
- Dedicated Compliance Manager: Personalized guidance throughout the year.
- Accounting Support: Bookkeeping and financial statement preparation.
- Secretarial Services: Board meetings, AGM support, resolutions, and minutes.
- Annual Return & Tax Filing: MCA annual filings, income tax return filing—even for dormant companies.
