Annual Compliance of a Pvt. Ltd. Company

Annual Compliance of a Pvt. Ltd. Company - Overview

For every business, it is compulsory to file an annual return and audited financial reports with MCA for every fiscal year. The RoC filing is necessary irrespective of the turnover, whether it is zero or in crore. Whether a single business is undertaken or none, annual compliances for private limited are compulsory for every certified company.
Both the forms are filed to submit the details of the business activities and financial date for referred Financial Year. The due dates mentioned in the annual filing of a Private Limited company are completely based on the date of the Annual General Meeting. If the company continuous fail to file the return it may lead to the removal of the company಑s name from the register of MCA, that includes disqualification of company directors.

Checklist of Annual Compliance

Payment of periodic filings and payments
Non-Registrar abidance of periodic returns
GST Returns - Monthly/Quarterly
TDS Returns – Quarterly
Evaluation and payment of advance tax periodically
Filing of Tax Audit Report done by authorized CA
Filing of Income Tax Returns at a flat rate of 30% addition to Education Cess
Administrative Assessment of trade as per different acts of law such as Environment and Protection Act, Competition Act, Money Laundering Act, Factory Act and so on.

Benefits of Annual Compliance

Avoid financial Penalties
Build trust and brand loyalty
Better visibility of operations
Avoid legal implications
Avoid being in ROC defaulter list