Annual Company Compliance (Comprehensive)
Includes RoC services for all year curated for all small and medium-sized companies. Key inclusions:
Issuance of share certificates
Filing of business commencement form (INC-20A)
Annual returns filing (AOC-4 and MGT-7)
Preparation of statutory registers
Preparation of minute books and copies of resolutions
Filing of auditor appointment (ADT-1)
Filing of Director KYC (DIR-3 KYC)
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Introduction:
Maintaining company compliance is crucial for the smooth operation of businesses and to avoid penalties. Private limited companies, one-person companies, limited companies and section 8 companies are obligated to meet annual compliance requirements under the Companies Act, 2013. These compliances are independent of the company's turnover or capital amount. Failure to adhere to annual compliances may result in severe consequences for the firm. However, Instafiling is here to assist with annual filings and provide comprehensive information on company compliances.
List of Documents Required
Memorandum of Association
Certificate of Incorporation
Bank Statement of the relevant year
Digital Signature Certificate (DSC)
KYC Documents of the Directors
Email id and Contact Detail of the Directors
Income Tax Login Credentials
GST Poral Login Credentials
How Does It Works?
Form Submission
Callback From Our Team
Final Quote And Payment
Assigning Compliance Expert
Document Submission
Filing of Relevant Forms
Payment of Challans
Access to Virtual Drive
Annual Company Compliance:
It is essential for private limited companies to prioritize their annual compliance obligations. All necessary company compliances must be filed within the prescribed timelines. Here are some key annual compliances for private limited companies that you should be aware of:
- Issuance of Share Certificates After the incorporation of a company, it is essential to issue share certificates to the shareholders. Share certificates serve as evidence of ownership and specify the number of shares held by each shareholder. This process ensures transparency and legal compliance regarding shareholding within the company.
- Business Commencement Certificate (INC-20A) As part of annual compliance, companies incorporated after November 02, 2018 and having a share capital must obtain a Business Commencement Certificate within 180 days of incorporation. This form confirms that the company has commenced its business operations within 180 days of incorporation. It is a crucial compliance requirement to obtain a Business Commencement Certificate.
- Penalty for non-compliance: Failure to procure the certificate may result in a penalty of ₹50,000, and the director may be required to pay ₹1,000 for each default day.
- Conducting Annual General Meetings (AGM): Holding an AGM is crucial for annual compliance. All the companies must provide all relevant information related to the AGM during the annual filing process. An AGM should be held within six months of the end of the fiscal year, as per ROC compliance.
- Directors Report: Every company must submit the directors’ report to the ROC and MCA on time, in accordance with Section 134 as an attachment to Form AOC-4.
- Annual Returns Filing (AOC-4 and MGT-7) Annual returns filing involves submitting two forms (i) AOC-4 (Form for filing financial statements) and (ii) MGT-7 (Form for filing annual returns).
- AOC-4 includes financial information such as balance sheet, profit and loss statement, and cash flow statement.
- MGT-7 provides details about the company’s shareholding, directors, and key management personnel. These forms must be filed with the Registrar of Companies (ROC) within the prescribed timelines to comply with statutory requirements.
- Preparation of Statutory Registers: Statutory registers are important records that a company must maintain as per the Companies Act. These registers include the Register of Members, Register of Directors and Key Managerial Personnel, Register of Charges, Register of Debenture Holders, etc. Proper maintenance of these registers ensures accurate record-keeping and compliance with regulatory obligations.
- Preparation of Minute Books and Copies of Resolutions: Minute books serve as a record of the proceedings and decisions made during company meetings, such as board meetings and general meetings. These books contain minutes of discussions, resolutions passed, and other important matters. Maintaining accurate minute books and copies of resolutions ensures transparency, accountability, and compliance with legal requirements.
- Filing of Auditor Appointment (ADT-1): Companies are required to appoint an auditor within 30 days of incorporation. The appointment of an auditor must be filed with the ROC using Form ADT-1. This filing ensures that the company complies with auditing and financial reporting requirements and establishes an independent assessment of the company’s financial statements.
- Filing of Director KYC (DIR-3 KYC): The filing of Director KYC (DIR-3 KYC) is an annual compliance requirement for all directors of companies. Directors are required to update their KYC details, including personal information, contact details, and identification documents. This filing ensures accurate and up-to-date information about the directors, promoting transparency and accountability.
- Filing Income Tax Returns (ITR): Annual compliance for companies includes filing income tax returns online before the due date.
Streamline Your Annual Compliance with Instafiling:
To simplify the process of annual company compliance, Instafiling offers comprehensive services to assist businesses in meeting their obligations. Our expert team ensures that all necessary compliances are filed accurately and on time, reducing the risk of penalties and legal consequences.
By availing our annual company compliance services, you can focus on your core business activities while entrusting your compliance responsibilities to our experienced professionals. We provide end-to-end solutions, including document preparation, filing and ongoing support, to ensure a seamless compliance experience.
Stay compliant, avoid penalties, and maintain the integrity of your business with Instafiling’s annual company compliance comprehensive services.
FAQs
Annual compliance for a company refers to the set of legal and regulatory requirements that a company must fulfill on an annual basis. These requirements include following:
- Annual General Meeting – Companies need to hold an AGM each year. During this meeting, important matters such as the approval of financial statements, appointment or removal of directors, dividend declarations, and other significant decisions are discussed and voted upon by shareholders.
- Filing of Financials – Companies are required to prepare and submit annual financial statements, including balance sheets, income statements, and cash flow statements in Form AOC-4. These statements provide a snapshot of the company’s financial position and performance.
- Annual Return – Annual return of the company is to be filed in Form MGT-7. It includes the details regarding the changes in the shareholding pattern, changes in directors, number of meetings held during the year etc
- Tax Filings – Companies must file annual tax returns, reporting their income, expenses, and other relevant financial information to the tax authorities in ITR-6.
Annual compliance for a company refers to the set of legal and regulatory requirements that a company must fulfill on an annual basis. These requirements include following:
- Annual General Meeting – Companies need to hold an AGM each year. During this meeting, important matters such as the approval of financial statements, appointment or removal of directors, dividend declarations, and other significant decisions are discussed and voted upon by shareholders.
- Filing of Financials – Companies are required to prepare and submit annual financial statements, including balance sheets, income statements, and cash flow statements in Form AOC-4. These statements provide a snapshot of the company’s financial position and performance.
- Annual Return – Annual return of the company is to be filed in Form MGT-7. It includes the details regarding the changes in the shareholding pattern, changes in directors, number of meetings held during the year etc
- Tax Filings – Companies must file annual tax returns, reporting their income, expenses, and other relevant financial information to the tax authorities in ITR-6.
- Director’s KYC – Companies must file Directors KYC every year before 30th September to ensure the DIN of directors is active.
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Annual compliance for a Private Limited Company includes convening Annual General Meeting, Filing of Financials with Registrar of Companies in Form AOC-4, filing of Annual Return in Form MGT-7 and filing applicable tax returns.
To file the annual compliances, first prepare the necessary documents like Financials, Directors’ report, List of Shareholders, List of directors etc and convene an Annual General meeting for approval of financial statements.
Then prepare the applicable forms like AOC-4 and MGT-7 and get it digitally signed by the directors of the Company and Practicing Chartered Accountant or Practicing Company Secretary, if applicable. Thereafter, Login to MCA portal and upload the forms and pay requisite fees.
It is advisable to seek professional assistance from legal and accounting professionals who specialize in corporate compliance to avoid any misreportings.
Annual ROC compliance includes following:
- Annual General Meeting – Conducting of Annual General Meeting for approval of financial statements, appointment or removal of directors, dividend declarations, and other significant decisions are discussed and voted upon by shareholders. Annual General Meeting of the company should be conducted within six months from the end of the financial year.
- Filing of Financials – Form AOC-4 is to be filed within 30 days from the date of the AGM to submit annual financial statements, including balance sheets, income statements, and cash flow statements with ROC.
- Annual Return – Annual return of the company is to be filed in Form MGT-7 within 60 days from the date of the AGM.
Director’s KYC – Companies must file Directors KYC every year before 30th September to ensure the DIN of directors is active.
ROC filing refers to the submission of various documents and forms to the Registrar of Companies, which is the regulatory authority responsible for overseeing corporate affairs and yes, the ROC filing is mandatory for every year to each company.
The below companies are required to obtain compliance certificate for the company in Form MGT-8 from a Company Secretary in practice:
- Every Listed Company;
- Company having paid-up share capital of ten crore rupees or more; and
- Company having turnover of fifty crore rupees or more,
An annual compliance plan serves as a strategic roadmap for an organization to ensure that it meets its legal and regulatory obligations throughout the year. The primary purpose of an annual compliance plan is to establish a systematic approach to compliance management, mitigate risks, and promote a culture of adherence to laws and regulations.
Filing of forms with regulatory authorities within appropriate timelines is an example of company compliance. Forms may include AOC-4, MGT-7, ADT-1 etc
- Annual General Meeting – Conducting of Annual General Meeting for approval of financial statements, appointment or removal of directors, dividend declarations, and other significant decisions are discussed and voted upon by shareholders. Annual General Meeting of the company should be conducted within six months from the end of the financial year.
- Filing of Financials – Form AOC-4 is to be filed within 30 days from the date of the AGM to submit annual financial statements, including balance sheets, income statements, and cash flow statements with ROC.
- Annual Return – Annual return of the company is to be filed in Form MGT-7 within 60 days from the date of the AGM.
- Tax Filings – Companies must file annual tax returns, reporting their income, expenses, and other relevant financial information to the tax authorities in ITR-6.
- Director’s KYC – Companies must file Directors KYC every year before 30th September to ensure the DIN of directors is active.
- Annual General Meeting – Conducting of Annual General Meeting for approval of financial statements, appointment or removal of directors, dividend declarations, and other significant decisions are discussed and voted upon by shareholders. Annual General Meeting of the company should be conducted within six months from the end of the financial year.
- Filing of Financials – Form AOC-4 is to be filed within 30 days from the date of the AGM to submit annual financial statements, including balance sheets, income statements, and cash flow statements with ROC.
- Annual Return – Annual return of the company is to be filed in Form MGT-7 within 60 days from the date of the AGM.
- Tax Filings – Companies must file annual tax returns, reporting their income, expenses, and other relevant financial information to the tax authorities in ITR-6.
Basic compliance for a company is annual filing, that needs to be done every year. It includes conducting Annual General Meeting, Director’s KYC, Form AOC-4, Form MGT-7 and income tax filings.
Yes, an annual report is mandatory for private companies and it needs to be attached along with the form Aoc-4 as well.
Annual Compliance Statement is a certification given on a company’s annual return by a practicing company secretary, as per the Companies Act 2013, under Section 92(2).
Annual Compliance Form is a certification given on a company’s annual return by a practicing company secretary in Form MGT-8, as per the Companies Act 2013, under Section 92(2). for the company in Form MGT-8 from a Company Secretary in practice: It is mandatory for below mentioned Companies:
- Every Listed Company;
- Company having paid-up share capital of ten crore rupees or more; and
- Company having turnover of fifty crore rupees or more,
Following documents or forms needs to be filed mandatorily with ROC every year:
- AOC-4 for submitting Annual Financials Statements;
- MGT-7 for Annual Return of the Company; and
- DIR-3 KYC
Moreover, the company might need to file below event based forms if the same are applicable:
- MSME-1: To be filed on a half yearly basis if there is any delay of more than 45 days in payment to MSME registered vendors.
- DPT-3: To be filed before 30th June every year for the companies which are in receipt of any money in any forms i.e loans, advances, deposits etc.
- ADT-1: To be filed if there is any appointment of auditors.
- MGT-14: If any special resolution is passed by the company then it should be reported within 30 days in Form MGT-14.
- DIR-12: To be filed, in case of any change in directors or KMP’s.
Every company incorporated under the Companies Act, 1956 or 2013 is required to file annual returns in Form MGT-7 within 60 days from the date of Annual General Meeting.
Yes, it is necessary to conduct an AGM every year. An Annual General Meeting should be conducted within six months from the end of every financial year.
