Description
Client's General Questions
According to the MCA, every Private Limited Company is bound to discharge mandatory secretarial compliance filings or RoC compliance within the due dates fixed to avoid facing penalties.
Services Covered :-
- Auditor Appointment
- Bookkeeping
- Financial Statement Preparation
- Annual & Director Report
- Board Resolution Preparation
- MCA & Income Tax Filing
- GST & TDS Return Filing
- GST Reconciliation & Annual Return
Documents list:
- All Sale Invoices
- All Purchase Invoices
- All Expense Invoices
- All Import & Export Documents
- Monthly Bank Statement
You can scan the documents or click the photo of documents & send us through mail or whatsApp.
- After receiving payment, your relationship manager will call you to discuss everything.
- After getting necessary documents, he will transfer all documents to relevant team.
- After your work is prepared, he will call you to discuss about tax payments or refunds.
- After filing is complete, he will mail you filing acknowledgement.
- Next month, he will remind you by mail & call for filing.
- You can ask any query to him for any confusion during or after filing process.
12 months compliance plan is best for you as it will cost you
- for upto 10 lakh turnover – ₹1250/month & saves ₹3000.
- for upto 50 lakh turnover – ₹2083/month & saves ₹3000.
- for upto 1 crore turnover – ₹2917/month & saves ₹3000.
*prices are inclusive of GST.
At Infinity Compliance, we are dedicated to ensuring top-notch company compliance for our clients. To deliver the best service, we exclusively appoint highly experienced and skilled Chartered Accountants (CAs). Our team of CAs has extensive expertise and knowledge in handling compliance matters, providing our clients with confidence and trust in their financial processes. By relying on our seasoned CAs, clients can rest assured that their compliance requirements will be met with precision and professionalism. We strive to maintain the highest standards, ensuring our clients’ peace of mind and success in their business endeavors.
Physical visit is not required for annual compliance. It is completely online service.
Sure, we will set up a meeting with the CA who is appointed for your company. The meeting will take place in Delhi, and there will be a fee of ₹1500 for the meeting. The good news is that this fee will be adjusted in the overall service cost later on.
What is Annual Compliance?
Annual compliance for private limited company in maharashtra means the necessary tasks and responsibilities that the company must fulfill each year to stay legal and operational. These tasks are like a yearly checklist to make sure the company is doing things right and following the rules. Some of the common tasks include holding a yearly meeting with shareholders and directors to discuss important matters, preparing financial statements that show the company’s financial health, and filing reports with the government to update them on the company’s status.
Other tasks may include filing income tax returns, getting the company’s financial records audited by an independent expert, and keeping proper records of important meetings. These compliance activities help the government and stakeholders understand how the company is doing and ensure transparency and accountability in its operations. Following these yearly requirements is crucial for the company’s success and maintaining a good reputation in the business world.
Contact Us
Why Choose Us ?
Timely Submission – We manage 100+ compliance records every month and have served 500+ clients across 50+ locations in India.. So your business is in safe hands.
Year Around Expert Consultation – Get consultation for Compliance on call. There is no limit on the number of questions or time limit.
Save Money (100% ITC Guaranteed) – We offer trusted and professional at affordable prices when compared to market standards.
Team of Professionals – We have a team of 40+ qualified Compliance and Legal Professionals to ensure adherence to all the best practices for all the applicable procedures and rules.
Annual Compliance benefits
Raising Company’s Credibility – Following the rules and laws is crucial for any business. One essential rule is to file the company’s annual report on time, and this date is shown on the MCA website. When a company wants to get government contracts or loans, having a good compliance record is very important. It shows that the company is reliable and responsible, which helps build trust with others.
Attract Investors – When a company needs funds from investors, they want to see all the financial information before deciding to invest. They can check this information on the MCA website too. Companies with a history of meeting their compliance requirements regularly are preferred by investors because it shows that the company manages its finances well and follows the rules.
Maintain Active Status and avoid penalties – If a company doesn’t meet its annual compliance requirements, it can face serious problems. It may be marked as “default” and charged with heavy penalties. In some cases, the company may be considered closed or removed from the government’s records. The directors of the company may also get disqualified and cannot be part of other companies. Since July 2018, there is an additional fee of ₹100 for each day of delay in filing the annual report. So, it’s essential for a company to meet its compliance duties on time to avoid these issues and maintain its active status.
About This Plan
Services Covered :-
- Auditor Appointment
- Bookkeeping
- Financial Statement Preparation
- Annual & Director Report
- Board Resolution Preparation
- MCA & Income Tax Filing
- GST & TDS Return Filing
- GST Reconciliation & Annual Return
How It's Done
- Add service to cart
- Proceed to checkout
- Fill the information & purchase the plan
- A relationship manager will be assigned to you.
- He will call you to discuss everything.
- You have to provide data required for monthly filings.
- Then he will transfer data to relevant professional team.
- After filing, he will mail you acknowledgement.
- Next month, he will remind you for Filing by mail & call.
Annual Compliance for Private Limited Company in Maharashtra
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.
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.
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.
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 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.
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.
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.
Preparation of Directors’ Report
Directors’ Report will be prepared with a mention of all the information required under Section 134.
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.
Client Reviews
KNOW MORE ABOUT Annual Compliance of Private Limited Company in Maharashtra
Running a private limited company comes with its set of legal obligations. Annual compliances are not just a formality but a crucial aspect of corporate governance, ensuring transparency, accountability, and compliance with statutory regulations.
1. ROC Filings: Stay ahead of regulatory deadlines with our ROC (Registrar of Companies) filings. We assist in the preparation and submission of Annual Returns, Financial Statements, and other essential documents to the ROC.
2. Tax Filings: Ensure accurate and timely tax filings with our experts handling Income Tax Returns (ITR), Goods and Services Tax (GST) Returns, and any other tax-related compliances. Stay compliant and minimize the risk of penalties.
3. Audit Support: Prepare for audits with confidence. Our team provides comprehensive support for both internal and statutory audits, ensuring all financial records are in order and compliant with auditing standards.
4. Compliance Calendar Management: Never miss a deadline again. Our proactive approach includes managing a compliance calendar for your company, ensuring that all regulatory filings and submissions are done well in advance.
5. Legal Advisory: Receive timely legal advice and updates on regulatory changes affecting your business. Our experienced legal team is here to guide you through any compliance-related queries and challenges.
1. Expertise: Rely on our team of experienced professionals who specialize in Indian corporate laws and regulations. We stay updated with the latest changes to provide you with accurate and compliant services.
2. Customized Solutions: Every business is unique, and so are its compliance needs. Our services are tailored to match the specific requirements of your private limited company, ensuring a personalized and effective approach.
3. Peace of Mind: With us handling your annual compliances, you can focus on growing your business. Enjoy peace of mind knowing that your legal obligations are being managed by a dedicated and knowledgeable team.
1. Protect Your Wallet: Non-compliance isn’t just a fancy term; it can cost you big bucks. Fines, penalties, and unexpected legal battles can drain your money. Let us be your financial safety net, saving you from these costly surprises.
2. Keep Your Reputation Intact: In today’s world, your company’s image is gold. Messing up on compliance can tarnish it. We’re here to keep your brand shiny and trusted by your clients, partners, and investors.
3. Grab Every Chance: Missed opportunities hurt. Non-compliance can make you miss out on business deals, partnerships, and government perks. With [Your Company Name], compliance becomes your ticket to growth, not a roadblock.
1. Legal Backup: Think of us as your legal bodyguard. We handle the legal stuff so you can focus on your business. No need to stress about complex laws; we’ve got it covered.
2. Reputation Savior: Don’t let compliance problems ruin your brand. We’re proactive, making sure your company stays in everyone’s good books and maintains the trust of those who matter.
3. Grow Without Limits: Why let rules hold you back? With Infinity Compliance, compliance is your partner in growth. We make sure you’re ready to jump on every opportunity that comes your way.
Act Now – Secure Your Company’s Future: Don’t wait for trouble to knock on your door. Reach out to us today to secure your business against risks that can mess things up. Act now and ensure a bright future for your company.
Annual compliance for a private limited company in Maharashtra involves several statutory requirements and filings with the Registrar of Companies (ROC) to ensure legal and regulatory compliance. Please note that the information provided here is based on regulations as of my last knowledge update in January 2022, and there may have been changes since then. It’s always advisable to consult with a professional or check the latest regulations for the most up-to-date information. Here’s a general overview:
1. **Annual General Meeting (AGM):**
– Private limited companies are required to hold an AGM every year. The first AGM must be held within 9 months from the end of the financial year.
– Subsequent AGMs must be held within 6 months from the end of the financial year.
2. **Financial Statements:**
– Directors are responsible for preparing the financial statements, including the balance sheet, profit and loss account, and the director’s report.
– These financial statements should be audited by a qualified auditor.
3. **Annual Return:**
– Private limited companies must file an annual return with the ROC within 60 days from the date of the AGM. The annual return provides details about the company’s financial performance, shareholding patterns, and other statutory information.
– Form MGT-7 is used for filing the annual return.
4. **Financial Year:**
– Private limited companies must follow the financial year from April 1 to March 31.
5. **Director’s Report:**
– The director’s report, which is a part of the annual report, should include information about the company’s operations, financial performance, and future outlook.
6. **ROC Forms:**
– In addition to the annual return, there are various other ROC forms that may need to be filed throughout the year for specific events or changes within the company.
– Common ROC forms include:
– Form ADT-1: For appointment of auditors.
– Form DIR-12: For changes in the composition of the board of directors.
– Form INC-22A (ACTIVE): To provide information about the registered office and the verification of the company’s details.
7. **Income Tax Returns:**
– Private limited companies are required to file income tax returns annually. The due date for filing income tax returns is typically September 30th of the assessment year.
8. **Goods and Services Tax (GST):**
– If applicable, private limited companies need to file GST returns regularly. The frequency of GST filing depends on the turnover and nature of business.
9. **Penalties for Non-compliance:**
– Non-compliance with the annual filing requirements can lead to penalties and legal consequences for the company and its directors.
It is crucial for companies to maintain accurate and up-to-date records and to adhere to the timelines specified by the regulatory authorities to avoid penalties and legal issues. Seeking professional advice from a company secretary or a legal expert is recommended to ensure compliance with all statutory requirements.
Annual Compliance for Private Limited Company in Maharashtra:
A Private Limited Company, often referred to as a Pvt. Ltd. Company, is a distinct legal entity formed by a group of individuals with the aim of conducting business while enjoying limited liability protection. When it comes to running a private company, annual compliance is not just a legal obligation, it’s a crucial element that ensures the company’s smooth operation within the legal framework. This article provides a comprehensive overview of the key aspects of annual compliance that private companies need to consider.
Why Annual Compliance Matters?
Annual compliance for Private Limited Company in Maharashtra is the set of requirements and regulations that private companies must adhere to on a yearly basis. These obligations are designed to ensure transparency, accountability, and fair business practices. By meeting these requirements, companies maintain their legal status, credibility, and the trust of stakeholders.
Annual Compliance for Private Limited Company in Maharashtra
Running a Private Limited Company or a one-person company (OPC) involves more than just day-to-day operations; it requires diligent attention to legal and regulatory obligations. Annual compliance services play a pivotal role in ensuring that these entities meet all necessary requirements and operate smoothly within the legal framework.
Key Areas of Annual Compliance
Annual Returns Filing
Filing annual returns is a legal requirement that involves submitting information about the company’s financial performance, changes in ownership, and other relevant details to regulatory authorities.
Statutory Filings and Documentation
Compliance services encompass filing various documents with regulatory bodies as required by law. This could include resolutions, agreements, and other essential paperwork.
Financial Reporting and Audit
Annual compliance services involve preparing accurate financial statements, which are then audited by external professionals. This process ensures that the company’s financial health is accurately represented and provides stakeholders with reliable information.
Tax Compliance
Annual compliance includes ensuring that all tax obligations are met, from filing income tax returns to GST compliance. This helps companies avoid penalties and legal issues related to taxation.
Benefits of Corporate Annual Filing
Corporate annual filing goes beyond being a regulatory requirement; it serves as a powerful tool that brings several advantages to businesses.
Enhancing Financial Transparency
Corporate annual filing mandates the submission of accurate financial statements. These statements offer a comprehensive view of the company’s financial health, including revenues, expenses, assets, and liabilities. Transparent financial reporting not only instils confidence among stakeholders but also aids in informed decision-making by investors, creditors, and partners.
Ensuring Compliance and Avoiding Penalties
At its core, corporate annual filing ensures that businesses adhere to legal and regulatory obligations. Failure to file annual reports can lead to severe penalties and legal consequences. By fulfilling this requirement, companies maintain their good standing with regulatory authorities and safeguard themselves from financial and reputational setbacks.
Facilitating Strategic Planning
Annual filing requires businesses to review their financial performance over the past year. This process provides valuable insights into what has worked and what needs improvement. This data-driven analysis informs strategic planning, helping companies set goals, allocate resources, and identify areas for growth.
Demonstrating Corporate Responsibility
The corporate annual filing reflects a company’s commitment to corporate social responsibility. It signals that the company operates in alignment with legal standards, ethical practices, and good governance principles.
Building Credibility and Trust
A company’s commitment to annual filing showcases its dedication to transparency and accountability. This dedication enhances the company’s credibility, building trust among customers, suppliers, and investors. Stakeholders are more likely to engage with businesses that demonstrate responsible financial practices and open communication.
Meeting Legal and Regulatory Requirements
Annual filing ensures that companies remain compliant with industry-specific regulations and legal requirements. This compliance reduces the risk of legal disputes, lawsuits, and regulatory actions that can arise from non-compliance.
Access to Capital
For businesses seeking external funding or investments, annual filing is a crucial step. Investors and lenders often require access to a company’s financial statements and performance metrics before making investment decisions. Proper annual filing can improve the company’s creditworthiness and attract potential investors.
Boosting Investor Confidence
Transparent and well-documented annual filings contribute to a positive perception of the company’s management and financial health. This, in turn, increases investor confidence and can lead to higher stock prices and improved market performance.
Streamlining Internal Processes
Annual filing necessitates the organization and preparation of financial information. This process encourages companies to maintain accurate and up-to-date records, leading to more efficient internal processes, better financial management, and improved overall operations.
Annual Compliance Requirements for Private Limited (Pvt Ltd)
Key Annual Audit Requirements that Pvt Ltd companies need to fulfill:
Annual Returns Filing
Annual returns are comprehensive documents that provide details about the company’s shareholders, directors, registered office address, and changes in the company’s structure during the year. These returns must be filed with the regulatory authorities within the specified time frame. Accurate and timely annual returns demonstrate the company’s compliance with legal requirements and provide an updated snapshot of its composition and operations.
Financial Statement Preparation and Audit
Private Limited companies are required to prepare accurate and up-to-date financial statements, including the balance sheet, profit and loss statement, and cash flow statement. These statements provide an overview of the company’s financial health and performance during the fiscal year. In addition to preparation, financial statements may need to undergo an annual audit by external auditors to ensure accuracy and transparency.
Maintenance of Statutory Registers
Pvt Ltd companies are required to maintain various statutory registers, which include records of shareholders, directors, and other company-related activities. These registers must be kept updated and accurate, providing a comprehensive record of the company’s transactions and changes throughout the year.
Tax Compliance and Filings
Tax compliance is a critical aspect of annual obligations for Pvt Ltd companies. This includes filing various tax returns, such as income tax returns and Goods and Services Tax (GST) returns, as applicable. Adhering to tax regulations ensures that the company’s tax liabilities are accurately calculated and paid on time, minimizing the risk of penalties and legal issues.
Compliance with Industry-specific Regulations
Depending on the industry and nature of business, Pvt Ltd companies may have additional compliance requirements specific to their sector. This could include obtaining licenses, permits, and certifications from relevant regulatory bodies.
Filing of Annual Financial Statements with Regulatory Authorities
Private Limited companies are generally required to file their annual financial statements with regulatory authorities. These filings provide a transparent view of the company’s financial performance and position, ensuring accountability to stakeholders.
Board and Shareholder Meetings
Private Limited companies are obligated to hold regular board meetings and shareholder meetings as per legal requirements. These meetings provide a platform for decision-making, discussing company matters, and keeping stakeholders informed about the company’s performance and future plans.
What is Business Annual Filing?
Business annual filing refers to the submission of various documents, reports, and financial statements to relevant governmental agencies or regulatory bodies. The purpose of this filing is to provide an accurate overview of the company’s financial health, operations, and adherence to legal obligations. It is a mandatory requirement that compels companies to submit specific documents and financial information to regulatory authorities on an annual basis. This process is essential for maintaining legal compliance, financial transparency, and accountability.
Documents for Pvt Ltd Company Compliance
Compliance for Private Limited Company in Maharashtra Documentation:
Certificate of Incorporation
The Certificate of Incorporation is an official document issued by the regulatory authority upon the company’s successful registration. It certifies the company’s legal existence as a separate entity and is essential for all compliance-related activities.
Memorandum of Association (MoA) and Articles of Association (AoA)
MoA and AoA are foundational documents that define a Pvt Ltd company’s scope, objectives, and rules. MoA outlines the company’s main activities, while AoA governs internal management and operational procedures. These documents are submitted during the company’s registration and play a vital role in its compliance framework.
Share Certificates
Share certificates are issued to shareholders as proof of their ownership in the company. These certificates specify the number of shares held by each shareholder and are important for maintaining an accurate record of ownership.
Shareholder Meeting Minutes
Minutes of shareholder meetings, including Annual General Meetings (AGMs), capture discussions, voting results, and decisions made by shareholders. These minutes provide transparency and accountability to shareholders and regulatory authorities.
Director Identification Number (DIN) and Digital Signature Certificate (DSC)
Directors of Pvt Ltd companies are required to obtain a Director Identification Number (DIN) and a Digital Signature Certificate (DSC). DIN is a unique identification number for directors, and DSC is used to electronically sign documents, including compliance filings.
Financial Statements
Accurate financial statements, including the audit report, balance sheet profit and loss statement, and cash flow statement, provide insights into the company’s financial health and performance. These documents are required for compliance and are often audited by external professionals.
Board Meeting Minutes
Minutes of board meetings document discussions, decisions, and resolutions made during board meetings. These minutes serve as an official record of the company’s management decisions and are crucial for compliance and transparency.
Register of Members and Share Transfer Book
The Register of Members contains details of shareholders, including their names, addresses, and shareholdings. The Share Transfer Book records transfers of shares from one person to another. Maintaining accurate and updated records in these registers is crucial for compliance.
Annual Compliance Checklist: Essential Tasks for Business Adherence
Annual Returns Filing
File annual returns with regulatory authorities within the specified time frame.
Provide accurate information about shareholders, directors, registered office addresses, and changes in the company’s structure.
Verify that the annual returns accurately reflect the company’s composition and operations.
Financial Reporting and Statements
Prepare accurate and up-to-date financial statements, including the balance sheet, profit and loss statement, and cash flow statement.
Ensure financial statements provide a clear overview of the company’s financial health and performance during the fiscal year.
Consider conducting an external audit of financial statements for accuracy and transparency.
Statutory Registers Maintenance
Maintain and update statutory registers, including records of shareholders, directors, and company activities.
Ensure that all entries in the registers are accurate, complete, and up-to-date.
Tax Compliance and Filings
File income tax returns and Goods and Services Tax (GST) returns, as applicable.
Ensure accurate calculation and timely payment of tax liabilities to avoid penalties and legal issues.
Keep records of tax filings and payments for future reference.
Compliance with Industry-specific Regulations
Identify industry-specific regulations that apply to the business.
Obtain necessary licenses, permits, and certifications required by the industry.
Ensure compliance with all industry-specific requirements and regulations.
Board and Shareholder Meetings
Hold regular board meetings and shareholder meetings as per legal requirements.
Document minutes of meetings, including discussions, decisions, and resolutions.
Ensure that meetings address key matters related to company operations and strategy.
Documentation and Record-Keeping
Maintain accurate and organized records of all compliance-related documents, reports, and filings.
Ensure that documentation is easily accessible for internal use and regulatory inspections.
Filing of Annual Financial Statements
File annual financial statements with regulatory authorities as required by law.
Verify that the financial statements accurately represent the company’s financial performance and position.
Keep records of the filed financial statements for reference and audits.
Regulatory Updates Monitoring
Stay informed about changes in regulations, laws, and compliance requirements relevant to the business.
Regularly review and update compliance strategies to align with new regulatory developments.
Training and Education
Provide compliance training for employees to ensure they understand their roles in maintaining compliance.
Educate employees about company policies, procedures, and legal obligations.
Foster a culture of responsibility and accountability among the workforce.
Annual Compliance for Private Limited Company in Maharashtra by Infinity Compliance
Infinity Compliance excels in offering comprehensive solutions that help businesses understand, interpret, and implement complex compliance frameworks. With a team of seasoned professionals, we provide tailored strategies to address industry-specific compliance challenges.
1. Tailored Compliance Strategies
One-size-fits-all solutions often fall short in addressing unique compliance needs. Infinity Compliance crafts customized compliance strategies that align with a company’s industry, size, and operations. This approach ensures that businesses meet their obligations effectively and efficiently.
2. Regulatory Assessments and Audits
Infinity Compliance conducts thorough assessments and audits to evaluate a company’s compliance status. This diagnostic process identifies gaps, potential risks, and areas for improvement. These insights form the foundation for creating robust compliance strategies.
3. Training and Education
A knowledgeable workforce is the cornerstone of successful compliance. Infinity Compliance offers training programs that empower employees to understand and implement compliance measures, fostering a culture of responsibility from within.
4. Documentation and Record-Keeping
Accurate record-keeping is vital for demonstrating compliance efforts. Infinity Compliance assists businesses in maintaining meticulous records of compliance activities, reports, and documents, facilitating easy access during regulatory inspections.
5. Timely Filings and Submissions
Missing compliance deadlines can have severe consequences. Infinity Compliance ensures that companies file required reports and submissions within stipulated time frames, mitigating the risk of penalties and legal actions.
6. Regulatory Updates
Staying up-to-date with regulatory changes is a perpetual challenge. Infinity Compliance keeps clients informed about the latest legal developments, ensuring that their compliance strategies remain relevant and effective.
Business Registrations
Difference Type
- Recommended For
- Ease of Investment
- Limited Liability Protection
- Tax Advantages
- Perpetual Existence
- Statutory Compliances
Limited Liability Partnership
- Professional Service Firms
- Possible, but unlikely
- Yes
- Most efficient
- Yes
- Low
Private Limited Company
- Start-Ups & Growing Businesses
- Very Easy to Accommodate
- Yes
- Few Benefits
- Yes
- High
Reviews
There are no reviews yet.