Annual compliance for Private limited company
Private Limited Annual compliance
Annual compliance for Private limited includes filling of annual accounts and annual reports to government common known as MCA/ ROC, it is mandatory for every private limited company to get there annual accounts audit of there books of accountant from a chartered accountant and filled the same to ROC there annual forms like AOC-4, MGT-7, DPT-3, ADT-1 etc
Every company should hold minimum 4 board meetings its is mandatory to hold board meeting and there is no maximum limit of board meeting, apart form there is a mandatory requirement to hold Annual general meeting once in a year.
Now question which company is required to get there accounts audit?
Every company weather its not having any turnover or having turnover 1 cr is required to get there accounts audit from a chartered accountant and filled the same to ROC.
Which form is required to filled in Private Company Annual compliance ?
Some of the common form required to filed by the company every year:
1. AOC-4: Under this company is filled the financial statement in AOC-4, attachments like balance sheet, board report, shareholder holding, director holding, audit report etc. are required to be attached.
2. MGT-7: In MGST-7 the company is required to filled its annual return its includes detail like no meeting company held, director held, related party transaction etc.
3. ADT-1: Any appointment of company auditor is required to filled in form ADT-1
4. ADT-3: If any auditor resigns from organization they require to filled ADT-3.
5. DPT-3: If a company has taken loan from its director or any other person company is required to filled DPT-3 form
Apart from this there are some other form also which is required to be filled by the company depending upon the requirement.
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Documents Required
1. BOOKS OF ACCOUNT
We required books of account in accounting software like tally, busy etc.
ANNUAL returns annual REPORTs.
We required annual reports like board report , director report, minutes books etc.
3. CURRENT ACCOUNT STATEMENTS
we required current account statements of your company from 1April to 31 march.
4. GST RETURN DETAILS
If you are registered GST assesse then we required all your GST sales and purchase details.
Reasons for ANNUAL COMPLAINCE OF PRIVATE LIMITED
1. MANDATORY Requirement
It it mandatory for every private limited company to get there account audit and filled the same to ROC.
2. Easy to Start
For proprietorship registration we need Adhaar card of individual ( Some time Voter ID may work ) for address of individual.
3. Less documents required
Individual PAN card is required for registration. In proprietorship no separate PAN card will applied.
4. Taxation benefits
For proprietorship registration we need Adhaar card of individual (Some time Voter ID may work ) for address of individual.
5. Less Compliances
Individual PAN card is required for registration. In proprietorship no separate PAN card will applied.
6. Easy to exit
For proprietorship registration we need Adhaar card of individual ( Some time Voter ID may work ) for address of individual.
REGISTRATION PROCESS
Step-1
Single Owner
Individual PAN card is required for registration. In proprietorship no separate PAN card will applied.
Step-2
Easy to Start
For proprietorship registration we need Adhaar card of individual ( Some time Voter ID may work ) for address of individual.
Step-3
Less documents required
Individual PAN card is required for registration. In proprietorship no separate PAN card will applied.
Step-4
Taxation benefits
For proprietorship registration we need Adhaar card of individual ( Some time Voter ID may work ) for address of individual.
How Ovakil help with company annual filing Registration?
Ovakil helps you for company annual filing
1. Shop Establishment Registration
For proprietorship registration there are many type of registrations. Shop establishment one of them, the process of this registration is different in every state of India
2. GST Registration
This registration will take 2-3 days and GST registration is sufficient to open current account for business.
3. Udhyog Adhaar Registration
Udyog Aadhaar is a registration for all micro, small and medium sized businesses. This registration along with a GST registration can be used for opening of bank account.
FAQs
1. Is Annual Return needed to be filed by an LLP?
Every LLP needs to file an annual return in Form 11 with ROC, 60 days before the closure of financial year. The annual return is also available for public inspection once payment of prescribed fees is made to the Registrar.
2. What is Annual Return Filing of LLP?
All Limited Liability Partnerships are under obligation to maintain the annual accounts which should reflect genuine and authentic information/views of its state and affairs. If even the LLP does not do any business in the market still it has to comply with the statutory requirement of Annual Return, profit, Balance Sheet and Income Tax Return every year. The fee depends on the capital of the LLP.
4. Who files the Annual Return?
The Annual return can be submitted by any of its directors but it shall be duly signed by both the directors of the Company and by the Manager or Company Secretary. There are certain cases when there is no Manager/ CS in a Company in such situations signature of both the directors are compulsory.
5. How to file Annual Return for LLP?
Form 11 is required to be filed by every LLP with the Registrar within 60days from the conclusion of the financial year i.e. the Annual Return.
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