Annual Compliances of Private Company
Private Limited Company is a type of Company Which is privately held by the People.
Compliances: The act of obeying an applicable law, rule, regulation, guidelines, and the requirements from the regulatory authorities etc.
Why is compliance important for companies:
- Avoids fines and penalties
- Protect from legal prosecution and action
- Build the good market reputation
- Protect the interest of the stakeholders and investor
- Increase the revenue of the business.
The mandatory Annual Compliances of a Private Limited Company are as follows:
| S.NO | REQUIRED FORM | DESCRIPTION | TIMELINE |
|---|---|---|---|
| 1 | INC-20A | Declaration of commencement of business | Within 180 days from the date of incorporation. |
| 2 | ADT-1 | Appointment of First statutory auditor | Within 30 days from the date of incorporation. |
| 3 | MBP-1 | Disclosure of interest by director | In first board meeting of financial year and whenever there is a change in the disclosures. |
| 4 | E-Form MSME-1 | Return of outstanding payments to Micro or small enterprise | To be filed within 1 month from the conclusion of half year. |
| 5 | DPT-3 | Return of deposit or particulars of transaction not considered as deposit or both. | On or before 30th June of every year |
| 6 | Income Tax Return | Income tax returns need to be filed on or before 30th September for the financial year. | |
| 7 | DIR-3KYC | Directors’ KYC (for individuals holding DIN) only for Two Directors | Within 6 months from end of financial year. |
| 8 | ADT-1 | Appointment of subsequent statutory auditor | Within 15 days of appointment of an auditor |
| 9 | AOC-4 | Filing of annual accounts. | Within 30 days from the date of AGM. |
| 10 | MGT-7A | Filing of annual return | Within 60 days from the date of AGM. |
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Annual Compliances of Private Company
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- Filing of INC-20A
- Filing of ADT-1 (For First Auditor
- Preparation of MBP-1
- Filing of MSME-1
- Filing of DPT-3
- Income Tax Return Filing
- DIR-3KYC (For Two Directors)
- Filing of ADT-1 (Subsequent Auditor)
- Preparation of Notice, Directors Report
- Filing of AOC-4
- Filing of MGT-7A
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