Annual Compliance for Private Limited Company
rithuwanIntroduction
Annual compliance refers to the set of legal requirements every Private Limited Company in India must follow, as per the Companies Act, 2013. These are mandatory even if the company is inactive, and missing deadlines can lead to fines, disqualification, or even strike-offs.
Key Compliance Requirements
1. Board & General Meetings
Board Meetings: Minimum 4 per year.
AGM (Annual General Meeting): Must be held by 30th September.
2. Filing Financial Statements (AOC-4)
Filed within 30 days of AGM.
Contains balance sheet, P&L, and audit report.
Penalty: ₹100 per day.
3. Annual Return (MGT-7)
Filed within 60 days of AGM.
Contains shareholder, director, and meeting details.
4. Auditor Appointment (ADT-1)
- Filed within 15 days of AGM.
Director Compliance
DIR-3 KYC: Director KYC due by 30th September every year.
Disclosure of Interest (MBP-1): At the first board meeting of the financial year.
Tax & Other Compliance
ITR Filing: Must be done by 30th October (Form ITR-6).
TDS Returns: Filed quarterly if applicable.
GST Returns: GSTR-1, GSTR-3B monthly; GSTR-9 annually (if applicable).
Statutory Registers
Maintain registers for:
Members
Directors
Charges
Contracts
Also, keep a minutes book and board resolutions for reference and inspection.
Compliance Calendar (Quick Recap)
Compliance | Due Date |
AOC-4 | 30 days from AGM |
MGT-7 | 60 days from AGM |
DIR-3 KYC | 30th September |
ADT-1 | 15 days from AGM |
ITR Filing | 30th October |
Consequences of Non-Compliance
Penalties: ₹100/day (ROC), interest or flat fines (IT/GST).
Disqualification: 3 years of non-filing can disqualify directors.
Strike-Off: Prolonged default may lead to company deregistration.
Why Compliance Matters
Avoids legal trouble
Builds investor & customer trust
Enhances creditworthiness
Ensures eligibility for government benefits or funding
Tips to Stay Compliant
Hire a Company Secretary or CA
Use compliance software tools
Track due dates with a checklist
Common Mistakes to Avoid
Late filings
Ignoring MCA notices
Not maintaining statutory registers
Conclusion
Annual compliance may feel like a burden, but it’s the foundation of running a successful Private Limited Company in India. Stay organized, use professional help if needed, and always keep an eye on your filing calendar to avoid unnecessary stress.
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