Expert Guidance on Compliance for Private Limited Companies
Navigating compliance can be a complex challenge for private limited companies in India. Adhering to the comprehensive requirements of the Companies Act 2013, including director appointments, shareholder meetings, and other regulatory obligations, is crucial but can often seem overwhelming.
At Taxation Point India, we provide expert guidance and tailored compliance solutions for your company—simplifying the process from registration to ongoing obligations. Our specialists have in-depth knowledge of Indian business laws and regulations, ensuring your company meets all statutory compliance requirements. Whether you are a startup or an established enterprise, we make compliance simple and hassle-free.
What is Compliance for Private Limited Companies?
Compliance refers to adhering to prescribed rules and requirements under law. For a private limited company incorporated in India, compliance with the Companies Act, 2013 is mandatory, along with reporting obligations to the Registrar of Companies (RoC). These include director-related requirements, board and shareholder meetings, filings, disclosures, and statutory record-keeping.
Types of Compliance
- ROC Compliance: Filings and obligations mandated by the Registrar of Companies.
- Event-Based Compliance: Applicable when specific changes or events occur in the company.
- Non-Registrar Compliance: Other statutory filings such as GST, TDS, PF, ESIC, and Income Tax.
Annual Compliances for Private Limited Company
- INC-20A: Declaration for Commencement of Business within 180 days of incorporation.
- Appointment of Auditor: File ADT-1 within 15 days of AGM.
- Board Meetings: First meeting within 30 days of incorporation; minimum 4 per year.
- Annual General Meeting (AGM): First within 9 months of year-end; subsequently within 6 months of FY end.
- AOC-4: Filing financial statements within 30 days of AGM.
- MGT-7: Annual return filing within 60 days of AGM.
- DIR-12: Appointment/resignation of directors within 30 days.
- DIR-3 KYC: Director KYC filing by September 30 every year.
- DPT-3: Return of deposits by June 30 every year.
- Directors’ Report: Prepared and circulated 21 days before AGM.
- Maintenance of Registers: Statutory registers, books of accounts, and minutes of meetings.
Event-Based Compliances
These must be filed when specific events occur within the company:
- Change in share capital or authorized capital.
- Allotment or transfer of shares.
- Appointment of managing or whole-time directors.
- Opening/closing of a bank account or change in signatories.
- Change in statutory auditors.
Non-Registrar Compliance
- Payment of GST, TDS, TCS, Advance Tax, and Professional Tax.
- Filing GST, TDS, and Income Tax returns.
- PF and ESIC filings.
- Compliance under environmental, factory, and other industry-specific laws.
Penalties for Non-Compliance
Failure to comply with Companies Act requirements or filing delays can result in heavy fines and penalties. For instance, missing deadlines for ROC filings or Director KYC may lead to daily penalties or fixed fines, impacting both the company and its directors.
How Taxation Point India Helps
- Dedicated Compliance Manager: A single point of contact for all compliance needs.
- LEDGERS Compliance Platform: Track deadlines, manage filings, and generate reports seamlessly.
- Accounting & Financial Statements: Assistance in maintaining accounts and preparing financial statements.
- Secretarial Support: Drafting board minutes, Directors’ reports, and AGM documents.
- Annual Filings: Preparation and submission of ROC and MCA filings within deadlines.
- Income Tax Filing: Timely filing of company tax returns, even for dormant companies.
Why Choose Taxation Point India?
With Taxation Point India, you get expert support, simplified processes, and complete peace of mind. We handle your end-to-end compliance obligations, ensuring accuracy, timeliness, and 100% statutory compliance.
✅ Get started with Taxation Point India today and make company compliance completely hassle-free!