Annual Compliances For Private Limited

What Is Annual Compliance For Private Limited Company?

Every Private limited company is required to maintain compliance as per Income Tax Act 1961, GST Compliances, and Companies Act 2013.

Why We Need To Do Annual Compliance For Private Limited?

As every company have to intimate the department about the income and expenditure and information regarding shareholders, meetings etc and to make company free from non compliances. If we fail to do so then penalty is imposed not filing a companies annual return (Form MGT-7 and Form AOC-4) is Rs.200 per day. Thus, for a company that files its annual return 9 months after its due date, the penalty would be Rs.54,000 compared to a penalty of Rs.4800 applicable now.

What are the forms required to be filed for Annual Compliances?
Form AOC-4 for Financial statement and form MGT-7 for annual return are required to be filed for Annual compliance.

What is the Due date to file annual filing forms?
The Form AOC-4 for financial statement of the company need to file within 30 days from the date of AGM and form MGT-7 for annual return will be required to file within 60 days from the date of AGM.

Documents Required For Annual Compliances For Private Limited

  • Invoices of Purchases and Sales during the year
  • Invoices of expenses incurred during the year
  • Credit Card Statements if Expenses are incurred by Directors on behalf on Company
  • Bank Statements from 1 April to 31 March for all bank accounts in the name of Company
  • Copy of GST returns filed (If Any)
  • Copy of TDS Challans Deposited (If Any)
  • Copy of TDS Returns filed (If Any)

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Annual Compliances For Private Limited
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