Description

Annual Return of Private Ltd Company

₹5,000/- (including all)

  • Discussion and collection of basic Information
  • Provide Required Documents
  • Decide the due dates of ROC filing for Pvt. Ltd. Company
  • Drafting necessary documents
  • Attachment of supporting documents
  • Filing of AOC – 4 (Financial Statements)
  • Filing of MGT – 7 (Annual Return)

Documents Requirements

  • Incorporation Document

PAN Card, Certificate of Incorporation and MoA – AoA of Private Company

  • Audited Financial Statements

Financial Statements must be audited by independent auditor

  • Audit Report & Board Report

Independent auditor’s report and Board report must be provided

  • DSC of Director

Valid and active DSC of one of the directors must be provided

Procedure

Day 1 – Collection

  • Discussion and collection of basic Information
  • Provide Required Documents
  • Decide the due dates of ROC filing for Pvt. Ltd. Company

Day 2-4 – Preparation

  • Drafting necessary documents
  • Attachment of supporting documents

Day 5 onwards – Filing

  • Filing of AOC – 4 (Financial Statements)
  • Filing of MGT – 7 (Annual Return)

Knowledge Portal 

What is Annual Return of Private ltd Company?

Once you register a Pvt Ltd Company in India, there are certain legal rules that you must follow annually. These rules are known as Annual Compliance and they require companies to submit pertinent information regarding their finances and board meetings. As per the Companies Act, 2013, it is mandatory for companies to appoint an auditor within 30 days of the company incorporation or within 60 days of the company incorporation date by way of calling EGM. As per the Companies Act, 2013, if you want to register a Pvt ltd companies in India, you must also note that you need to regularly share information regarding accounts, conduct a minimum of four board meetings annually, and share the minutes of the meetings, and any transfer details regarding the accounts book. Additionally, as per Section 96 of the Companies Act, 2013, you must also have an Annual General Meeting, with a maximum of 15 months’ gap between each meeting. However, if you have only recently completed your company incorporation, note that you must have an Annual General meeting within the first 6 months from the date of the closure of every financial year, and also the first 9 months within the date of the first closure of the financial year for your company.

Advantages of Annual Return

1.Raising Company’s Credibility

Compliance of law is the primary requirement for any business. The date of the company’s annual return filing displayed on the Master Data on the MCA portal. Government tenders, loan approval, or for similar other purposes, the regularity in compliance is a major criterion to measure the credibility of an organization.

2.Attract Investors

While pulling funds for a company from the investors, the investors demand all financial records and date before finalizing the proposal. The investors may either approach the company directly or can also check the financial records from the MCA portal. Investors also tend to favor companies with regular compliance records.

3.Maintain Active Status and avoid penalties

Continuous failure in filing the return turns the company status to default and charges it with heavy penalties. The company may also be declared as defunct or removed from the RoC. The concerned directors are also disqualified and debarred from their further appointment. Since July 2018, an additional fee of ₹100 for each day of delay will be levied till the date of filing.

Frequently Asked Questions

1.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.

2.What is the penalty for non-compliance of annual filing of Private Limited Company?

Since July 2018, companies failing to follow the statutory compliance for Private Limited will be charged ₹100 for each day of a delay till the actual date of filing. There is no ceiling limit to an additional fee. For continuous failure, penalty apart from the additional Government fee can be levied on both – company and directors, including the imprisonment.

3.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.

4.Is appointment of statutory auditor falls under annual compliance ?

A company can opt to appoint a statutory auditor either for a period of five consecutive years or till the conclusion of next AGM. Therefore, an appointment of the statutory auditor cannot be considered as a part of annual compliance.

5.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.

6.Which is the form filed for appointment of Statutory Auditor?

Form ADT-1 is required to be filed for appointment or replacement of Statutory Auditor.

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 :

  1. Registration and other details like CIN, date of incorporation, companies name and address of a registered office
  2. Principle business activity of the company
  3. Of holding, subsidiary, and associate companies
  4. Shareholding pattern
  5. Indebtedness of the company
  6. Remuneration of managing directors, directors and/or manager, and key managerial personnel.
  7. 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.