GET ANNUAL COMPLIANCE FOR COMPANY WITH XLTAX
INTRODUCTION
Annual compliance for a company is the set of legal and regulatory obligations that a company must meet each year to remain in good standing with authorities. These obligations vary by business type and jurisdiction.
Penalties for Late Filing
Late Fees for MCA Filings: 100₹ per day for each form.
Late Filing of DIR-3 KYC: 5,000₹ per director.
Late Filing of Income Tax Return: 5,000₹ - 10,000₹.
Here is some Registrar Related Compliance
| Registrar-Related Compliance | Company Law Compliance | Due Date |
|---|---|---|
| Declaration of Commencement of Business | Form INC-20A | Within 180 days of incorporation |
| Active KYC of the Company | Form INC-22A | Till April 25, 2019 (without late fine) |
| Directors' KYC | Form DIR-3KYC | Till April 30 (or declared by MCA) |
| Directors' Disclosure of Interest in Other Firms | Form MBP-1 | Within 30 days of the first board meeting |
| Directors' Disclosure of Non-Disqualification | Form DIR-8 | Within each financial year |
| Mandatory Appointment of Auditor | Form ADT-1 | Within 15 days of incorporation (can be filed post-first AGM) |
| Meetings of the Board of Directors | - | Minimum 4 meetings per year, maximum gap of 120 days |
| Annual General Meeting (AGM) | - | Within 6 months of the financial year's closure (first AGM within 9 months) |
| Annual Return | Form MGT-7 | Within 60 days of the AGM |
| Financial Statements | Form AOC-4 | Within 30 days of the AGM |
Non-Registrar Compliances
In addition to the registrar-related compliance, private limited companies must also fulfill several non-RoC compliance requirements, which include:
Payment of periodic dues such as GST liability, TDS, TCS, advance tax, and professional tax (PTax).
Filing regular returns, including:
Monthly/Quarterly/Annual GST Returns
Quarterly TDS Returns
Filing Income Tax Returns
Half-yearly ESIC returns
Assessment of advance tax liability
Filing Tax Audit Report
Professional tax (PTax) returns
PF returns
Documents required for the Annual Filing of a Private Limited Company
Financial Statements:
Balance Sheet
Profit & Loss Account
Cash Flow Statement (if applicable)
Notes to Accounts
Auditor’s Report (if applicable)
Annual Return:
Form MGT-7 (for companies with share capital)
Form 21A (for companies without share capital)
Compliance Certificate:
Form 66 (for companies with paid-up capital between Rs. 10 lakh and Rs. 5 crore)
Additional Documents (May be required depending on the company's specific circumstances):
Board Resolutions:
Approving financial statements
Appointing auditors
Declaring dividends (if any)
AGM Minutes:
Minutes of the Annual General Meeting
Other Relevant Documents:
Minutes of the Annual General Meeting
Director’s Report
Registers maintained by the company (e.g., Register of Members, Register of Directors, etc.)
Statutory auditor's certificate (if applicable)
Cost auditor's report (if applicable)
Secretarial audit report (if applicable)
Other documents as may be required by the MCA or relevant laws
Important points to keep in mind
It’s essential to ensure all documents are duly signed and certified as per the Companies Act, 2013 and relevant rules.
The specific documents required may vary depending on the company's size, industry, and any specific events or transactions that occurred during the financial year.
