Description
Annual Compliance (OPC Private Limited Company)
Although OPC Private Limited Company is a way of starting a business, there are various compliances which are required to be followed once your business is incorporated.
A OPC is an entity enjoying a separate identity which requires maintaining its active status through the regular filing with MCA. For every company, it is compulsory to file an annual return and audited financial statements with MCA for every financial year. The RoC filing is mandatory irrespective of the turnover, whether it is zero or in crore. Whether a single transaction is undertaken or none, annual compliances for opc private limited are mandatory for every registered company.
Annual return consists of information and documents that include the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about 
the Management of the Company. The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of securities.
In addition to MCA annual return, opc must also file income tax return irrespective of income, profit or loss. Hence, even dormant companies with no transactions are required to file income tax return each year. OPC Private limited companies, limited companies and one person companies would be required to file Form ITR -6. The due date for filing income tax return for a company is on or before the 30th of September.
Thus, the major compliance for OPC Private Limited Company’s in India, are the following:
- Appointment of Auditor
- Statutory Audit of Accounts
- Filing of Annual Return (Form MGT-7)
- Filing of Financial Statements (Form AOC-4)
- Annual general meeting (AGM)
- Preparation of Directors’ Report
- Maintenance of records
- Other compliances
- Income Tax Compliances
- GST Returns
- TDS Returns
Frequently Asked Questions:-
– Whether the Annual Filing is necessary for all companies??
Yes, RoC compliance for Private Limited Companies are necessary for every registered company. Irrespective of the total turnover or the capital amount, the company must comply with the annual compliance requirement. The annual compliance is due after the AGM of the company since its first financial year.
– Who is the Governing Law and Regulatory Authority of India under Company Laws?
The Companies Act 2013 & Ministry of Corporate Affairs.
– Whether the audited financial statement is mandatory annual filing for Private Companies?
Audited financial statements are necessary for every company since its incorporation. The company must file the audited statements only. Also, non-audit of financial statement is not an excuse to delay the annual filing.
– What are the Compliances under Companies Act 2013?
Annual Filing, Disclosure by Directors, Drafting of Annual return, Minutes, notices, various Certifications and updating the Statutory Register.
– In case of no operations in the company , do directors require to sign directors report ?
As per Companies Act, 2013 it is mandatory to submit the signed Director Report for every financial year with MCA by filing an Annual return of the company. The Director Report is considered as an attachment for the form MGT-7.
– Which form is an attachment to the companies Director Report ?
MGT-9 is an attachment to the company’s director report which is an extract of MGT-7 and addresses the following :
- Registration and other details like CIN, date of incorporation, companies name and address of a registered office
- Principle business activity of the company
- Of holding, subsidiary, and associate companies
- Shareholding pattern
- Indebtedness of the company
- Remuneration of managing directors, directors and/or manager, and key managerial personnel
- Penalties/ Punishment/ Compounding of offense
– How should the transfer or transmission of shares of the company be notified to the MCA?
Such intimation can be made through filing MGT-7 by the company.
Process:-
- Add service to cart
- Click on view cart
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- Proceed to checkout
- Fill the information & pay the amount.
- After receiving payment our executive will mail & call you to provide required documents.
- After receiving necessary documents we will initiate the process.
- Our professional team will handle all your annual mandatory & required compliance.
OR
You can send mail or call our team on below mail/number to start or know about the Annual Compliance or any other services.
Mobile No – 8810627935, 8377941209
Email – [email protected]
Appointment of Auditor
Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for 5-year appointment. The first Auditor will be appointed within one month from the date of incorporation of the Company.
Statutory Audit of Accounts
Every Company shall prepare its Accounts and get the same audited by a Chartered Accountant at the end of the Financial Year compulsorily. The Auditor shall provide an Audit Report and the Audited Financial Statements for the purpose of filing it with the Registrar.
Filing of Annual Return (Form MGT-7)
Every Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March.
Filing of Financial Statements
Every Private Limited Company is required to file its Balance Sheet along with statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.
Annual General Meeting
It is mandatory for every Private Limited Company Company to hold an AGM in every Calendar Year. Companies are required to hold their AGM within a period of six months, from the date of closing of the Financial Year.
Preparation of Directors’ Report
Directors’ Report will be prepared with a mention of all the information required under Section 134.
GST Return Filing
GST Return Filing are mandatory returns for all companies who obtain GST Registration. GST Returns are filed on monthly, quarterly & annually basis.
Income Tax Return
Income tax return of a company must be filed irrespective of income, profit or loss. Hence, even dormant companies with no transactions are required to file income tax return each year.
TDS Return Filing
TDS Return is also required to be filed by the pvt ltd companies who have TAN Number and are also required to deduct tax at source as per TDS Rules.
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