PRIVATE LIMITED COMPANY

A private company is a separate legal entity. It is mandatory for private limited companies to file returns and abide by all compliance's put-forth for such companies. Every private limited company has to file financial statements and annual returns with MCA for every financial year. Even if your company is dormant for some months or years, still you have to abide by the compliance's, the same is the case with ROC filing. Annual compliance is mandatory for every registered private limited company. These compliance's are put forth to make the activities and financial activities of the company known to the MCA.
You will be imposed with heavy fines and penalties for not complying with the annual compliance of a private limited company. Moreover, the due dates for the annual filings are discussed based on the date of AGM. Every companies which are registered in India must maintain compliance under various regulations. If you fail to maintain compliance, then it may lead to penalty or disqualification of company directors.

Some of the mandatory compliance is as follows:-

1) DIN KYC : The DIN KYC procedure must be completed each year for the directors of the company.

2) Annual Return : Companies should file MCA annual returns each year in the forms AOC-4 and MGT-7.

3) Commencement of Business : The capital mentioned in the Memorandum of Association should be deposited in bank and business commencement certificate must be obtained from MCA.

4) Income Tax Filing : Companies should file an income tax return each year in Form ITR-6.

5) Statutory Auditor appointment : The board of directors should appoint a CA within 30 days of incorporation.