Annual Filing for Private Limited Company

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Annual Filing for Private Limited

Annual Filing For Private Limited

Introduction

Each company registered in India, including a private limited company, limited company, one individual company, and section 8 company, must send annual returns to ROC each year. The annual general meeting must be held and annual reports must be filed with ROC. AGM must be held within 6 months of the end of the financial year, i.e. 30 September of each year.

There is limited liability coverage under a private limited company and it has various benefits like raising funds from Venture capitalist, continuous existence. Community trust comes at the cost of higher annual regulation.

Components of annual Filing

  • Book Keeping
  • Business Accounts Book includes coupons, minutes, reports, documents and records relating to the activities of the business.

  • Financial Statement
  • Preparation of general-purpose financial statements; which includes balance sheet, income statement, profit and loss statement, and cash flow statement.

  • Audit
  • The statutory audits carried out by eligible auditors shall be performed to report the condition of the finances and accounts of the company to the Government of India.

  • Perpetual succession not required
  • Incorporated companies are expected to file with the Registrar of Companies (ROC) the audited financial statements & account books.

  • ROC Return Filing
  • Every year, all companies incorporated under the Indian Companies Act must file tax returns on or before September 30th.

  • Income Tax Returns
  • In the form of statutory registers, each company incorporated under the Companies Act, 2013 is required to maintain certain records about the company.

Documents required for annual Filing

Balance Sheet

Balance Sheet

Balance Sheet of the Company

Report

Report

Director's Report

Other Documents

Other Documents

List of Shareholders and several other documents

Accounts

Accounts

Profit & Loss Account

Report

Report

Auditor's Report

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PACKAGES

Basic

₹19,899/-

per year

/
  • For companies with a turnover of upto Rs.25 lakhs
  • Bookkeeping
  • Financial Statement Preparation
  • Annual Report
  • Director's Report
  • Board Resolution Preparation
  • MCA Annual Return Filing
  • Income Tax Return Filing
  • 1 Year Dedicated Filing Manager Support
  • Commencement of Business Certificate
  • Company having less than 200 transactions in a financial year

Premium

₹24,899/-

per year

/
  • For companies with a turnover of upto Rs.100 lakhs
  • Bookkeeping
  • Financial Statement Preparation
  • Annual Report
  • Director's Report
  • Board Resolution Preparation
  • MCA Annual Return Filing
  • Income Tax Return Filing
  • 1 Year Dedicated Filing Manager Support
  • Commencement of Business Certificate
  • Company having more than 200 transactions in a financial year

FAQ's

Yes, every company has to file an annual compliance filing regardless of the number of transactions. However, the process will be very simple.
If more than 15 directors are appointed, the company must file the MGT-14 form and provide the SRN.
The balance sheet and annual compliance have to be filed once a year. In addition, companies have to file Form 3 of the Return of Allotment, Form Number Inc-22. If there is a change in the registered office; Form No DIR-12 for change of directors; etc..
The AGM has to be located in the registered office of the company or any other place in the city, town or village. The meeting should be held on any day during business hours (9 am-6pm) which is not a national holiday declared by the central government.
The annual general meeting should be held within the stipulated deadline. However, if it is not held within the stipulated time frame, for special reason, the Registrar of Companies may provide an extension for a period not exceeding three months, to be implemented before the last date of holding the AGM. Can. As per Section 97 of the Companies Act, 2013, if there has been any lapse in keeping the AGM of a company U / S 96, the Tribunal shall not, in spite of anything on the application of this Act or any member of the Association of Companies, Can call or direct the company to convene the annual general meeting of the company. With the help of Section 97, if any company fails to call the AGM and does not apply for extension, it can call the AGM with the help of any member, Those who can file applications to NCLT with Form NCLT-1. With the help of Section 97, if any company fails to call the AGM and does not apply for extension, it can call the AGM with the help of any member, Those who can file applications to NCLT with Form NCLT-1.
Form ADT-1 is filed to appoint or replace a statutory auditor.
Yes, the Board of Directors can appoint a person for alternate directors. But he / she must not be holding a similar position in any other company.
As per section 134 of the Companies Act 2013 and the rules made thereunder, a punishment for a company with a fine of between 50,000 rupees and 25,00,000 / - rupees and every officer shall be punishable which is a part of the default. He will be sentenced to an imprisonment for 3 years or a maximum of Rs 50,000 and a maximum of Rs. May be in 5,00,000 / - or with both.
Under section 164 of the Companies Act 2013, a director shall be disqualified / if not eligible for appointment to the director of the company: he is of unsound mind and stands declared by a competent court; He is an undivided bankrupt; He has applied to be appointed as a bankrupt and his application is pending. He has been convicted by the court of any offense and sentenced to imprisonment for not less than six months and a term of five years not to have expired from the date of expiry of the sentence. However, if a person has been convicted of an offense and has served a term of seven years or more, he shall not be eligible to be appointed as a director in any company. An order has been passed by the court to disqualifying him for the appointment as a director, and the it is in force; which has not paid any call in relation to any part of the company, whether alone or jointly with others, and six months have passed since the last day fixed for the payment of the call; He has been convicted of an offense related to related party transactions under section 188 at any time during the last five years; Or has not paid any call in respect of any shares of the company he holds, whether alone or jointly with others, and expires six months from the last day fixed for the payment of the call. Has been. Financial statements or annual compliance are not filed for a continuous period of three financial years to repay the deposits accepted by it or to pay interest thereon or to redeem any debenture on due date or interest paid on account thereof. Failure to pay or pay any dividends declared and failure to pay and redeem continues for a year or more, which is eligible. To be reappointed as a director of that company or in another company for a period of five years from the date on which the said company fails to do so. He has failed to obtain a Director Identification Number
As per the Companies Act, board meetings can also be held outside India. If necessary, directors may participate through video conferencing or other audio-visual elements, provided there is prior notice. Minutes of proceedings will be duly recorded. However, some cases prohibited by the Act are to be called through video conference meetings.
A director has to be physically present to attend at least one board meeting of the company. In the absence of the original director, an alternate director may be appointed to attend the meeting. If a director absences himself from all board meetings of the company, he should be evacuated from the company director office.
MGT-9 is associated with the company's director report, which is the extract of MGT-7.
Whenever there is a change in the interest of the directors, the same should be disclosed at the first board meeting, as per clause 184, whenever there is a change in the interest of the director, the same is required to be disclosed to the board first.
Its incorporation required audited financial statements for each company. The company only needs to file audited statements at the time of the annual compliance filing.
A company may appoint a statutory auditor for five consecutive years or until the conclusion of the next annual general meeting. Therefore, the appointment of a statutory auditor cannot be considered part of annual compliance.

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