Get Started!

    Annual Compliances for Private Limited Company

    As per the Companies Act, 2013, all the registered private limited companies must comply with all the necessary annual returns.

    For a Private Limited Company, ROC compliance is necessary. Irrespective of annual turnover or the capital amount, the company must comply with the annual return without fail. After the successful incorporation of the company, all the registered companies should start compiling all the required returns for the financial year.

    Managing compliance, along with regular business operations is tough. Companies can hire professionals to do all the compiling work. Legaltaxpert files all your annual returns on time without fail and saves you from any late fee penalty.

    Guide for Annual Return Filing

    • A private limited company should maintain a book of accounts to compile the annual returns and also to run the business smoothly.
    • Prepare financial statements of the company based on the book of accounts.
    • Appointment of the auditor should be done after the incorporation of the company.
    • Auditing of the financial statement of the company by the auditor.
    • Conducting general meetings every financial year by the board of directors.
    • Filling the annual returns of the Private Limited Company.

    Compliances need to be maintained by the Private Limited Company

    Check out the compliances to be made by Private Limited Company with due dates in 2021.

    Compliance Description
    Commencement of business ( within 180 days) Companies registered after November 2019 with a share capital must obtain a commencement. The business commencement certificate must be obtained within 180 days of Company Incorporation.
    In case an individual fails to obtain the certificate, a penalty of Rs.50,000 for the company Rs.100 per day must be charged for the directors each day of default.
    Auditor Appointment (Within 30 days) All registered companies must appoint a Statutory auditor within 30 days of Incorporation. If the company fails to appoint an auditor within 30 days, the company will not be allowed to commence business and also have to pay a penalty of Rs.300 every month.
    Income Tax Return The Income Tax return should be applied before 30th September for the 2020-21 Financial year.
    MCA Form AOC-4 For the Financial Year 2020-21, private companies need to file MCA form AOC-4 before 30th October November 2021. Failure in filing AOC-4 will attract the penalty of Rs.200 100 each day.
    MCA Form MGT-7 For FY2020-21, the MCA form MGT-7 should be filled before 29th November 31 December 2021 or else pay Rs. 200 100 per day as penalty fees.
    DIN eKYC The company’s directors must file DIN eKYC or DIR-3 eKYC. They have to provide a personal mobile number and email address every year within 30th September. Failure in filling DIN eKYC will attract a penalty of Rs.5000.
    Hold Annual General Meeting A private limited company must hold an annual general meeting once a year within the six months of closing the Financial year.
    Director’s report Under Section 134, the directors’ reports will be prepared.

    Frequently Asked Questions

    What is the ROC annual filing?

    ROC returns are filed under the Ministry of Corporate Affairs with whom the business is registered. It is compulsory to fill all the required forms and other returns on the annual basis or else you have to pay a penalty or it might be considered a serious offense.

    Is RoC filing mandatory?

    It is necessary to file all the ROC forms, returns, and documents with the Registrar of the Companies. It will help the ROC and Government to understand how the company is working during the financial year as per the Companies Act,2013.

    What comes under ROC compliance?

    Under the Companies Act 2013 and Limited Liability Partnership Act, 2008, all the companies and LLPs in India must comply with annual filings. The ROC filing should be done once a year.

    Is there any extension in ROC filing?

    A – MCA has increased the dates of AOC-4 NBFC (Ind AS) and AOC -4 CFS NBFC (Ind AS) from 31 January 2020 and 17 February 2020 to 31 March 2020, without any penalty fee on the forms.