Company Annual Return & Compliance

Every company registered in India like Private Limited Company, Limited Company, and One Person Company necessity file MCA Annual Return and Income Tax Return for the year ending on 31st March every year. The filings are mandatory irrespective of the turnover, whether it is zero or in crore.
Our dedicated team will assist you in complying with the Law, including financial statement preparation, secretarial services, income tax return filing and MCA annual return filing at a very affordable price.

Company ITR and ROC Return (Annual Return)

All Private Companies are required to maintain the books of account, prepare financial statements and get it audited by the qualified chartered accountant for each financial year. After finalization of account, the directors of the company present an annual report containing information to shareholders about the company’s performance and strategy. This meeting is called the Annual General Meeting. All companies are required to conduct AGM and file the annual return irrespective of turnover, whether a single transaction undertakes or none, and this is the statutory requirements of the Companies Act.
In addition to MCA annual return, companies are also required to file income tax return irrespective of income, profit or loss. Even dormant companies with no transactions are required to file an income tax return each year. The due date for filing income tax return for a company is on or before the 30th of September.
The continuous failure may attend to the removal of the company’s name from RoC’s register, including disqualification of directors for five years. Also, MCA has actively taken bold steps for dealing with any such failures.

Private Limited Company Annual Compliance

Finalization of accounts means closing the books with accurate figures and arriving at the accurate profit or loss incurred for the financial year ended on 31 March. While finalization of account, We need to follow the Schedule 6 of the Companies Act 2013 and Accounting Standards notified by the Institute of Chartered Accountant of India (ICAI).

Companies are prepared its books of accounts and the same need to be audited by a Chartered Accountant compulsorily to determine the accurate representation of its financial situation. The auditor provides an Audit Report and the Audited Financial Statements along with the notes of accounts for the purpose of filing it with the Registrar.

Companies are required to hold an Annual General Meeting on or before 30th September every year either at the registered office of the company or within the city. A 21 clear days’ notice is required to be given for the same to the members of the company. The director of the company presents an annual report comprising information to shareholders about the company’s performance and strategy.

The Board of directors shall appoint the first auditor of the company within 30 days of Incorporation who shall hold the office till the conclusion of 1st AGM. After that every year in AGM, Shareholder ratify the same auditor till the end of 6th AGM or may change the auditor in the AGM. In case of change, MCA form ADT-1 need to file within 15 days of such change.

Private Limited Companies are required to file its audited Balance Sheet along with the statement of Profit and Loss Account and Director Report in MCA form AOC-4 within 30 days of holding of AGM (Annual General Meeting). There is an additional fee of Rs 100 per day on delay in filing Form AOC-4.

Private Limited Companies are required to file its Annual Return within 60 days of holding of Annual General Meeting. The annual return of the company contains all the significant changes that took place in the company during the financial, i.e. the period 1st April to 31st March.

Private limited companies are required to file Income Tax Return on or before 30th September for the year ending 31st March. Failure to file income tax return attracts a penalty of Rs. 10,000, along with several consequences such as no rectification is allowed on belated returns and Losses and accumulated depreciation incurred can’t be carried forward to future assessment years.

Every director of a private limited company are required to submit their updated residential address, current mobile number, and email address to the ROC in form DIR-3(KYC). The filing of directors KYC is mandatory for every person who holds a DIN Number, and if not complied, the DIN gets deactivated. And can only be active after paying the additional fee of Rs 5000.

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Due Dates for Company Annual Filing

Annual General Meeting

upto 30th September 2020

ADT 1 (Auditor Appointment)

within 15 days of AGM, i.e. 15th Oct 2020

AOC 4 (Financial Statement)

within 30 days of AGM, i.e. 29th Oct 2020

Director KYC (DIR 3 KYC)

30th June 2020

MGT 7 (Annual Return)

within 60 days of AGM i.e. 29th Nov 2020

Income Tax Return Filing

30th November 2020

Benefits of Annual Compliance

Raising Company's Credibility

Record of Financial Worth

Attract
Investors

Attract Investors

Maintain active status and avoid penalties

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Company Annual Return & Compliance

Company ITR and ROC Return (Annual Return)

Private Limited Company Annual Compliance