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Annual Compliances for Private Limited Company

Our team of experts is well-versed in the compliance requirements for private limited companies and can guide you through the entire process.

    As a private limited company, it is crucial to fulfill your annual compliance requirements to maintain your legal and financial standing. These annual compliances ensure transparency, accountability, and adherence to statutory regulations. At Tax Mother, we provide comprehensive assistance and services to help you navigate through the annual compliance obligations seamlessly.

    Maintaining annual compliance is essential for private limited companies to uphold their legal and financial standing. At Tax Mother, we offer comprehensive services to help you navigate through these compliance requirements smoothly. Our experienced team can assist you with crucial tasks such as conducting the Annual General Meeting, preparing financial statements, filing the annual return, conducting tax audits, drafting the director’s report, maintaining statutory registers, and obtaining necessary compliance certifications. By partnering with us, you can ensure that your private limited company fulfills all its annual compliance obligations accurately and on time, allowing you to focus on your core business operations. Contact us now to discuss your annual compliance needs and benefit from our reliable and efficient compliance solutions.

    • Staying Ahead in a Changing Regulatory Environment with Mother TaxAt Mother Tax, we understand the challenges of navigating through a regulatory environment that is constantly evolving. With new regulations and compliance requirements being introduced regularly, it can be difficult for businesses to keep up. However, we are here to help you anticipate these sudden curves in the road more efficiently. Our expert team stays up to date with the latest regulatory changes and provides proactive guidance to ensure that your business remains compliant.
    • Safeguarding Your Business's Resources and Reputation with Mother TaxNoncompliance with regulatory requirements can have severe consequences for your business. It can lead to reputational damages and a loss of customer trust, which are difficult to recover from. Furthermore, failure to comply with regulations could result in the revocation of your license, hindering your ability to achieve your business objectives and goals. At Mother Tax, we prioritize protecting your business's resources and reputation by ensuring that all necessary compliance measures are in place. Our comprehensive approach helps mitigate risks and maintain the trust of your stakeholders.
    • Enhancing Efficiency through Regulatory Compliance with Mother TaxRegulatory compliance goes beyond meeting legal obligations; it can also improve the efficiency of your business operations. Many compliance rules require organized data storage, streamlined business procedures, and regular updates on operational activities. By adhering to these regulations, you can gradually enhance your business's efficiency while lowering costs. At Mother Tax, we assist you in implementing efficient compliance processes, leveraging technology, and optimizing your operations to maximize productivity and profitability.

    Compliance Requirements for Private Limited Companies

    Compliance Obligations for Private Limited Companies: 2021 Updates

    Compliance Description
    Commencement of business ( within 180 days)

    For companies incorporated in India after November 2019 that possess a share capital, it is mandatory to acquire a certificate of commencement of business prior to initiating any business operations or exercising borrowing powers. The certificate of commencement of business must be obtained within 180 days of the company’s incorporation.

    If an individual fails to obtain this certificate, there are penalties imposed. The company is subject to a penalty of Rs. 50,000, while the directors face a penalty of Rs. 1,000 per day for each day of default.

    Income Tax Return Income tax returns need to be filed on or before 30th September 2021 for the Financial year 2020-21.
    MCA Form AOC-4

    Private limited companies that are registered in India are required to file MCA Form AOC-4 for the Financial Year 2020-21. The deadline for filing this form is set as 30th November 2021. It is crucial for companies to submit the AOC-4 within the specified timeframe to comply with the regulations.

    In case a company fails to file the AOC-4 as per the deadline, a penalty of Rs. 200 per day of default or delay will be imposed. To avoid incurring penalties, it is recommended that companies ensure timely submission of the AOC-4 form.

    MCA Form MGT-7 It is necessary to file MCA form MGT-7 on or before 31st December 2021 for FY2020-21. Failure to file MGT-7 attracts a penalty of Rs.200 Per day of default or delay.
    DIN eKYC

    It is mandatory for all directors of a company to file the DIN eKYC or DIR-3 eKYC. The DIR-3 eKYC process requires directors to provide their unique personal mobile number and personal email address.

    In the event of failure to file the DIN eKYC, a penalty of Rs. 5000 will be imposed. It is important for directors to comply with this requirement to avoid penalties and ensure proper documentation and verification of their personal details.

    Hold Annual General Meeting

    Private limited companies are obligated to conduct an Annual General Meeting (AGM) on an annual basis. It is a legal requirement for companies to hold their AGM within six months from the end of the financial year.

    The AGM serves as an important forum for shareholders and directors to discuss and make decisions on various matters related to the company. By adhering to this requirement, companies can ensure transparency, accountability, and compliance with regulations.

    Director’s report The preparation of the Directors’ Report will encompass all the necessary information as mandated by Section 134.
    Auditor Appointment (Within 30 days)

    As per the regulations in India, all registered Indian companies are required to appoint a Statutory Auditor within 30 days of their incorporation. Failure to appoint an auditor within this timeframe will result in the company being unable to commence business operations.

    Additionally, if the company fails to comply with the requirement of appointing a Statutory Auditor, there is a penalty of Rs. 300 per month imposed on the company. It is important for companies to ensure timely appointment of a Statutory Auditor to avoid penalties and ensure compliance with regulatory requirements.

    At Mother Tax, we have the knowledge and experience to handle all aspects of compliance for your private limited company. Our dedicated professionals will assist you in obtaining the necessary certificates, filing mandatory documents, and adhering to deadlines, allowing you to focus on growing your business with peace of mind.
    Contact us today to discuss how we can help you meet all your compliance requirements and ensure the smooth functioning of your private limited company.