Annual Compliance for Private Limited Company in Delhi

Annual Compliance for Private Limited Company in Delhi

Annual Compliance for Private Limited Company in Delhi

Annual Compliance for Private Limited Company in Delhi – Under the companies act 2013, the Indian government legally mandates that every company( Public limited or Pvt. ltd) follow the annual compliance. In India, 90% of the company are registered under the Private Limited Company. Every year, more than 150,000 companies registered with the government.

A Separate Legal entity having perpetual succession is called a Private Limited Company. Private Limited company can issue shares but cannot release them publicly.

For each financial year, every private firm is required to submit an annual return and audited financial reports to MCA. Whether the turnover is zero or in crores, the Registrar of Companies filing is mandatory. Every certified firm is required to submit annual compliances for private limited, regardless of how many businesses are operated.

Alonika is a CA firm and it helps you to startup annual compliance in Delhi. We have an experienced and professional staff that will help to expand your business. Our main vision is  “We work to set the bar for excellence and have a solid vision”

Two types of Annual Compliance:   1) Mandatory Compliance  2) Event-based Compliance

Documents Required for Annual Compliance for Private Limited Company in Delhi

  • PAN Card
  • Memorandum of Association(MOA) and Articles of Association(AOA) of the Private Company.
  • Incorporation Certificate
  • Directors DSC
    Audit Committee Report
  • Board of Directors Report
  • Audited Financial Statements

All the Above, Documents are required for the Annual Compliance in Delhi. Alonika will help you to complete all your documents and fill out the annual compliance in time

Benefits of ROC annual compliance in Delhi

Attract Investors: If the company regularly fills the annual returns on the MCA returns. Investors have a preference to favor businesses that comply regularly. As a result, it’s essential for private companies to consistently submit yearly compliance to draw in additional investors.

Increase Company’s Reputation: An important factor that influences a company’s trustworthiness is how regularly it complies with regulations, whether for government contracts, loan approval, or other objectives. The consistency of compliance also boosts the brand’s reputation, draws in more clients, and aids in getting government contracts and loan clearance.

To Avoid penalties fill the compliance timely: Every company must fill the annual compliances in time. If they do not fill the annual compliance in time, a heavy fine will be imposed on the company.

Mandatory Compliance

The Private Limited Company are less strict statutory requirements as compared to the Public Limited company. The following are the Mandatory Annual Compliance

Board MeetingUnder the companies act 2013, the first Board Meeting shall be held within 30 days of its incorporation. The circular of the Board Meeting should be sent to every director at least 7 days before the board meeting.
Advisory Board MeetingIt is mandatory for every company they should conduct 4 meetings each year. The gap between the 2 meetings will not be more than 120 days.
Directors’ Declaration of InterestDirector must declare his interest: As a company director, he attends the first meeting or Every year, the board of directors attends the first board meeting or If there is any change in disclosure it must be stated in form MBP-1(together with a list of all relatives and concerns of relatives in the company as per the Related Party Transaction definition) that his interest in any company, body corporate, organizers/firms, or other organization of individuals. (including shareholding interest). Form MBP-1 must be submitted on time and kept on file by the company.
Appointment of AuditorThe first Auditor will be appointed by the Board of Directors within 30 days of incorporation of the company.
Annual General Meeting heldEvery company must hold its annual general meeting on or before 30th September of each year, during regular business hours on a day that is not a public holiday.
Statutory AuditThe Private Company must prepare its books of accounts and get the same audited by the CA after the approval of the financial statement by the board of directors.
Annual Return’s FilingEvery private company should prepare the annual return by the ROC. It should be prepared within 60 days of holding the Annual General Meeting in MGT-7
Filing of Financial StatementEvery Private company should be submitted its financial Statement and director’s Report in this Form AOC-4 within 30 days of holding the Annual General Meeting.
Reports on Minutes of MeetingReports should be written and maintained within 30 days of these meetings: General Meeting, Board Meeting, Creditors Meeting, Committee Meeting, Creditor’s Meeting

Event-Based Compliances

EssentialsForm No.Time Limit
Declaration of commencement of businessINC 20 Awithin 180 days from the company’s incorporation
ACTIVE(Active Company Tagging identities and verification)INC-22AEvery Private Company that registered before 31st December 2017 must be filled the E-Form ACTIVE.
Change in Registered OfficeINC-22Within 15 days of such a change
Change of company nameINC-24Within 60 days from the date of applying reservation of name in INC-1
Authorized Share Capital IncreaseSH-7Within 30 days of passing
Filing of Resolution and agreementMGT-14Within 30 days from the date of passing the Resolution.
Application of KYC DirectorsDIR-3 KYCOn or before 30th April of the immediate  next fiscal Year
Removal of  Auditor ExpiryADT-2Within 30 days of Passing
Disqualification of Director Before expiryDIR-9To be filled by the company within 30 days of such disqualification
Change in Secured BorrowingCHG-1All types of charges within 30 days of its creation.
Change of CompanyINC-27 
Increase in Paid up Share CapitalPAS-3Within 15 days from the date of allotment.
Important Beneficial Owner notifiedBEN-230 days after receiving BEN 1, the company must submit a filing to ROC.

Implications of Non-Compliance

If the company does not fill the Annual Compliance, the company and the officer will be imposed heavy penalties. The penalty will increase if the company does not fill the annual compliance

Checklist for Startup compliance in Delhi

  • Payment of recurring billing (GST amounts, TCS, TDS payment, and Advance tax)
  • Monthly/Quarterly-TDS/GST returns
  • Tax Audit Report’s filing
  • Income Tax Filing
  • Filing of Profession Tax Returns
  • Filing of PF Returns

All the above steps are mandatory for the Annual compliance of a private limited company. Alonika will assist you in every step. We provide you with a CA, who will guide you in Annual Compliance filing in Delhi. You can also consult online with our professional and expert team. Our Team will help you to complete your documents and prepare your application and complete all admissibility criteria. For more information, contact our team or visit “Alonika. in”.

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