Annual Compliance for Private Limited Company in Pune

Annual Compliance for Private Limited Company in Pune

Annual Compliance for Private Limited Company in Pune
An Introduction
Benefits of Annual Compliance
Documents Required for Annual Compliance
Mandatory Compliance
Documents Required for Mandatory ROC Compliance in Pune
Consquences of Non-Compliance

Annual Compliance for Private Limited Company in Pune

Annual Compliance for Private Limited Company in Pune – A Private Limited Company has a separate identity from its directors. All the Private Limited Companies that are running in India with registration issued under the Companies Act,2013, have to follow the rules of filling the annual Compliance procedure with ROC by the prescribed Deadline.

It can be a little difficult for any businessman to administer the day-to-day operations of their organization while also complying with corporate regulations. To ensure timely reporting of compliance to the Registrar without the punishment of tax or fines, it is necessary to seek the assistance of professionals who are familiar with legal requirements.

 Alonika will give you comprehensive advice on Annual Compliance for Private Limited Company in Pune. Our team has experienced and professional  Chartered Accountants, Company Secretaries, and Lawyers, who have vast experience in their respective sectors.

Annual Compliance is of two types:

  1. Mandatory Compliance: This category will contain all the requirements that apply to all businesses, regardless of size, industry, or other factors.
  2. Event-Based Compliance: this category will contain all the requirements of an event in the Company like change in directorship, alteration in a capital clause, alteration in object clause, etc.

Benefits of Annual Compliance in Pune

  1. It keeps you organized, informed, and current on the administrative, legal, and financial situation of the company.
  2. The reputation of a company’s existence will increase when its annual reports are timely and accurately filed with the ROC.
  3. Filing the Annual returns of the company in time will protect you from the penalties.

Documents Required for Startup Compliance in Pune

PAN Card
DSC of Directors
MOA and AOA Documents
Audit Report of Financial Statement
Report of Board of Directors Meeting
Report of Audit Committee
Incorporation Certificate

Mandatory Compliance

  1. Board of Directors Meeting: The Board of Directors first meeting should be performed within 30 days of the company’s incorporation. In each fiscal year,4 meetings should be held. The gap between the two meetings should not be more than 120 days
  2. A share certificate is issued: The Company must issue a share certificate to the members of the memorandum, after 60  days of the company’s formation.
  3. Statutory Auditor Appointment: Every Company is required to have its accounts audited by the Practicing Chartered Accountant in India, under the terms of the Companies Act, 2013.  In a newly incorporated company, the auditor must be appointed by the board of directors within 30 days of incorporation. The appointment must then be approved at the annual general meeting of the company.
  4. Report of the Minute’s proceeding: The minutes of every meeting must be recorded within 30 days after the Board of Directors and general meeting and kept forever to be valuable in the event of a disagreement.
  5. Annual General Meeting: The company’s Board of Directors is required to disclose the company’s genuine financial situation to the shareholders at the AGMs. AGMs must be held each fiscal year on or before September 30th, within regular business hours. The AGM shouldn’t take place on a vacation or after hours.
  6. Filing of Annual Returns: Every Private Company should file the Annual Return within 30 days after the first Annual General Meeting. We can do this by submitting MCA Form MGT-7.
  7. Filing of Financial Statements: Every Private Limited Company should file the Financial Statement within 60 days of the Annual General Meeting.
  8. Filing the Disclosure of Directors: Every company’s directors are expected to disclose their ownership interests in any other businesses to the company at the first board meeting in which they participate as directors and then at the first board meeting of each subsequent financial year in FORM MBP-1.
  9. Commencement of Business Certificate: Every company must receive the commencement of business certificate within 180 days of the business establishment. A corporation faces a fine of Rs 50,000 and a daily director fine of Rs 10,000 if it fails to obtain this certificate.
  10. Maintenance of Statutory Register: Various Register are required to be maintained by Private Companies.
MGT-1 Member’s Registers
MGT-2  Debenture holder’s Register
MGT-3  Register of Foreign Members and The members residing outside the country.
FORM SH-2  Renewed and Duplicate share certificates Register
FORM SH-3 Employee Stock’s Register
FORM SH-6 Sweat Equity Share’s Register
FORM SH-10 Shares or Securities’ Register
FORM CH-7 Charges Register

Documents Required for Mandatory ROC Compliance in Pune

DIR- 3 KYC Details of Director like PAN card, Cititzenship, Voter’s ID, Contact No, Email ID, Communication Address.Director’s DSC
ADT-1 Details of Auditor like Name, Company’s PAN Number, Appointment letter, Communication Address, Annual General Meeting’s Date, etcResolution of Company’s Board
MGT-7 Details Of the Company like Company PAN, Members Number, Shareholder’s Detail, Business Activities’ Information, Promoters and Debentures, Fines, etc.Checklist of Shareholders, Extension letter of AGM, Copy of MGT-8, etc.
MGT-14 Corporate Identification NumberResolution Details like a copy of Agreement, date of Dispatch, etc.Company’s Details like Name, Address, Contact Number, Email, etc.
AOC-4 Company’s Details (Name, Address, Contact number, Email ID, etc)Report on AuditCopies of the financial statements that have been properly authenticated under section 134, along with the board report and other documentation.Facts and Justifications for Not Holding the AGM.The balance sheet with notes, the profit and loss statements with notes, the cash flow statement, the statement of change in equity, and all other income records.Facts and justifications for not including the financial statements in the annual general meeting are stated (AGM) NOTE: All the above-mentioned points should be approved by the Directors, Managers, CEO, and CFO.  
FORM-8 Micro, Small and Medium Enterprises Development Act of 2006 disclosureAn audited financial statement
 MSME Form-1 Provider information, such as the Name and PAN of the provideradequate supplies of goods and servicesThe date that the payment is due as ofreason of the late payment of the required amount

Know More: Annual Compliance for Private Limited Company in Mumbai

Consequences of Non-Compliance

If the company has not filled the Annual Compliance within the period, then heavy penalties will be imposed on the company.

Alonika will offer you

  • to complete Documentation work
  • Roc form filling.
  • Guide you.
  • Help to get DIN registration.
  • For more information, visit our website” Alonika. in”