Annual Compliances Pvt. Ltd.
It is mandatory for annual compliance with MCA for every fiscal year. The ROC return gives details for changes in the company during the year and Roc filing is a must despite having no business during the year. Annual general meetings and filing accounts annually are required for Pvt compliances. The financial year should follow the date of 1st April to 31st March as per the Company Act 2013. The three ROC forms to file annual compliances are ROC form MGT 7, ROC AOC4, and ROC Form ADT 1. As per Company law, it provides legal compliances which are required to be followed by each and every company. The compliances must be divided into 2 different parts for easiness which are mandatory compliances and event-based compliances.
These are some mandatory compliances which a private limited company must follow:
– A first board meeting should be done within 30 days of the company’s incorporation.
– A minimum 4 board meeting should hold in a calendar year and should not have a gap of 120 days in two meetings.
– The first annual general meeting should help within 9 months from the date of first financial year closure of the company and within 6 months from the date of financial year closure and should not exceed 15 months between the date of the annual general meeting following the first.
– Every owner should disclose the interest in a first board meeting in the form MBP-1 and declaration in form DIR-8.
– The appointment of the first auditor should help the board meeting within 30 days of establishment.
– The subsequent auditor should be appointed for 5 years in the Annual general meeting
– ADT-1 form should be filed within 15 days from the date of appointment of an auditor
– Form AOC-4 should be filed within 30 days of AGM.
– MGT-7 should be filed within 60 days of AGM.
– Statutory audit of account should be done by a chartered accountant.
– Income tax return of the company should be filed on the 30th of September of every year.
– Every company should maintain statutory registers, minutes, books and records.
– Proof for circulation of notice, drafting and signed minutes are to be maintained within 3 years from the date of the meeting.
– KYC of directors should be done on the 30th of September
– E-Form MSME-I
– E-Form DPT-3
Pvt. Ltd. Annual compliances give the benefits of avoiding the financial penalties, helps to build trust and loyalties, avoiding legal impacts and fewer changes to be in ROC default list.