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Annual Compliances for Private Limited Companies

With the advent of Companies Act,2013, the rules regarding the annual compliance have become stringent. Know why and how every company adheres to such compliances. Since you can do Anything , but not Everything, it is the right time to delegate the trust on us.

Did you just get your company registered?

Congratulations!

However, it’s not yet over

You have another surprise package awaiting.

The Annual Compliance Package!

With the advent of Companies Act, 2013 the rules regarding the Annual Compliances have become stringent. Every company incorporated has to follow a procedure of intimating the concerned government departments about the various activities conducted within the company from time to time. Failing which, heavy penalties will be levied.

Annual Compliances are an integral part of the firm’s day to day operations:

  • THERE IS NO ESCAPE!

It is a mandatory statutory Requirement to file certain Forms to the respective ROC from time to time.

  • IF CAUGHT, IT GETS EXPENSIVE!

The cost of compliances are cheaper than that of the penalties.

  • DONT EARN A BAD NAME!

In case the default continues, it tamper’s the company’s goodwill. The company along with the directors might get blacklisted for a while.

  • JUSTIFICATION IS TIME CONSUMING!

A lot of time is invested to justify the default in the form of legal replies to objections or queries of the regulatory authorities.

  • INDIRECTLY ORGANISES YOU!

A compliance oriented company can analyse its performance and productivity in a systematic manner.

The Director’s can take it easy. ‘Delegation’ is the right key word to tackle this situation. Director’s and other employees can peacefully focus their attention on the day to day activities; and delegate all the hassle of annual compliances to our professional team.

We have simplified packages to suit your convenience.

Following are the compliances which you can delegate:

  • AUDITOR’S APPOINTMENT: The first will be appointed within 1 month from incorporation for the next 5 years.
  • BOARD MEETINGS: 1st BM is conducted within 30 days of incorporation. There should be one in each quarter, having not more than 120 days gap between two consecutive meetings. For Small Companies 2 BM per annum are sufficient. The same needs to comply with SS1 and SS2.

P.S.: SS refers to Secretarial Standards

  • ANNUAL GENERAL MEETING: It is mandatory to hold one in each calendar year, before the end of six month from the date of closing of the Financial Year(ie. Before 30th September).
  • ANNUAL RETURN: It is filed within 60 days of AGM ALONG WITH THE Audited Financial statements and Director’s Report.
  • STATUTORY REGISTERS AND RECORDS: Every company has to maintain certain books at the registered office for 8 long years. Apart from Incorporation documents , it includes Register of Shares, Members, Directors, Minutes, Notices.

A company needs to file various E-forms with the concerned ROC within the prescribed duration. From ADT-1,MBP-1, DIR-8, MGT-7, MGT-14, AOC-04, MGT-8 etc. Apart from filing, one needs to dispatch notices, draft resolutions and agendas, maintain proper records according to the Companies Act,2013.

Apart from the Annual Package there are certain Event Based Filings. You need to intimate the authorities in case such events take place in the company. These are:

  • Appointment or Change of Statutory Auditor
  • Alteration in Authorised or Paid up Capital
  • Allotment or Transfer or Transmission of Shares
  • Extending loans to Directors
  • Inter corporate Loans
  • Appointment of WTD or MD and their remuneration
  • Add/Remove a Director
  • Change in Registered Office
  • Alteration of Registered office
  • Alteration in Object Clause

Remember You can Do Anything! But not Everything!! We are just a click away.

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