Annual Compliance Services for Private Limited (PVT) & LLP Companies
● Premium Compliance Filing Services: Our team of India’s top Chartered Accountants (CAs) handles all necessary filings for your company, ensuring full Annual Compliance Services.
● 360° Corporate Legal Assistance: Get end-to-end support for corporate legal matters, from documentation to registrations, with expert guidance throughout.
- How It Works
● Purchase a Plan: Choose the plan that best suits your specific compliance needs.
● Dedicated Account Manager Assigned: After purchasing, a dedicated account manager will be assigned to handle all your compliance filings.
● Stay 100% Compliant: Our experts ensure that all deadlines are met and your business remains fully compliant with all legal requirements.
With GTS, you can relax knowing that your annual compliances are in expert hands!
- Annual Filing of Company - An Overview
Annual Compliance Services Maintaining company compliance is crucial for running a business smoothly. Adhering to the Registrar of Companies (ROC) compliance requirements is mandatory to avoid penalties. All private limited companies, one-person companies, limited companies, and section 8 companies are required to follow annual compliance obligations under the Companies Act of 2013.
These compliances are mandatory regardless of the company’s turnover or capital. Failing to meet annual compliance requirements can lead to severe penalties or legal consequences.
However, ensuring timely and accurate compliance can be challenging. That’s where GTS steps in to assist with the filing process and provide expert guidance on company compliance, ensuring that all legal requirements are met without hassle.
- Key Annual Compliance Requirements for Private Limited Companies:
● Business Commencement Certificate: Must be obtained within 180 days of incorporation (for companies with share capital). Penalty: ₹50,000 for the company, ₹1,000 per day for the director.
● Appoint an Auditor: Must be done within 30 days of incorporation. Penalty: ₹300 per month for non-compliance.
● File Income Tax Returns (ITR): Must be filed annually on time.
● Submit MCA Form AOC-4: For financial statements. Deadline: By 13 November. Penalty: ₹200 per day.
● Submit MCA Form MGT-7: For annual return. Deadline: By 13 November.
● Penalty: ₹200 per day.
File DIN eKYC: Directors must complete their DIN eKYC by the specified date.
● Hold Annual General Meeting (AGM): Must be held within 6 months after the fiscal year-end.
● Directors’ Report: Must be submitted as per Section 134.
Ensure timely compliance to avoid penalties and legal issues.
- Company Compliance Services Package for Private Limited Company
GTS offers a comprehensive Company Compliance Service Package for Private Limited Companies, covering all statutory requirements under the Companies Act. Services include:
● Auditor Appointment: Filing Form ADT-01.
● Business Commencement: Filing Form 20A.
● Financial Filing: Balance sheet, P&L, audit reports, and director’s reports.
● Annual Returns: Filing Forms AOC-4 and MGT-7.
● AGM Compliance: Preparing and filing AGM minutes.
● Income Tax Filing: For the financial year 2022-2023.
● Shareholder Documents: Stock certificates and required registers.
● Director Disclosures: Filing MPB-01, DIR-08, and DIR-3 for KYC.
● Ongoing Compliance: Monthly, quarterly, and annual filings with support from CAs and Company Secretaries.
● Additional Services: ESIC registration, GST filing, legal contracts, and dedicated account manager.
GTS ensures hassle-free compliance for all your company needs.
- Other Annual Compliances
In addition to the key annual compliances mentioned earlier, companies must also adhere to the following ongoing requirements:
GST Returns: Filing monthly, quarterly, and annual GST returns.
● TDS Returns: Periodic filing of TDS returns.
● Advance Tax Calculation: Estimating and calculating tax liability in advance.
● Income Tax Returns: Filing annual income tax returns.
● Tax Audit Report: Filing the report of tax audits.
● Semi-Annual Easy Returns: Submitting semi-annual returns as applicable.
● Provident Fund (PF) Returns: Filing mandatory PF returns.
● Professional Tax Returns: Filing professional tax returns.
● Regulatory Compliance: Evaluation and reporting as per various laws, such as the Environment Protection Act, Competition Act, and Factory Act.
All these additional compliances are crucial for ensuring that the company remains legally compliant with various tax and regulatory requirements.
- How GTS Can Help with Annual Compliance:
GTS offers comprehensive services to ensure businesses meet their annual compliance requirements:
● Accounting: We maintain your company’s accounts and prepare financial statements at the end of each fiscal year.
● Secretarial Services: Assistance with conducting board meetings, preparing annual reports, and filing meeting minutes.
● MCA Annual Return Filing: We ensure timely filing of your company’s MCA annual return and meeting compliance deadlines.
● Income Tax Return Filing: We handle income tax return filings for all companies, including inactive ones.
● What Is Business Compliance?
Compliance means ensuring your company adheres to all relevant laws, regulations, and internal policies. It helps prevent legal violations and protects businesses from fines and lawsuits.
- Importance of Online Accounting & Company Compliance Services in India:
● Budgeting: Helps businesses manage income and expenses efficiently, ensuring that financial goals and policies are met.
● Evaluating Business Performance: Provides insights into key metrics like net profit, sales growth, and overall business health.
● Managing Cash Flow: Enables businesses to track incoming funds, pay suppliers and employees, and manage debt repayments.
● Financial Transparency for Investors: Helps investors and stakeholders understand the company’s financial position, including solvency, liquidity, and creditworthiness.
● Legal Compliance: In India, companies must maintain accurate financial records as per the Registrar of Companies’ regulations. Failure to comply can lead to penalties or fines.
Online accounting services ensure businesses stay compliant, efficient, and financially transparent, while reducing the risk of legal issues and fostering trust with investors.
- Importance of Company Compliance Services:
● Growing Compliance Needs: As businesses expand, compliance requirements become more complex, covering areas like hiring, safety, and marketing regulations.
● Reduced Legal Risks: Compliance helps avoid fines, penalties, and lawsuits, reducing legal threats and ensuring business continuity.
● Improved Operations and Safety: Adhering to rules improves workplace safety, reduces accidents, and enhances overall productivity.
● Better Public Relations: Demonstrating compliance through marketing and policies boosts credibility and trust with customers and employees.
● Increased Employee Retention: A safe, fair, and compliant work environment leads to higher employee satisfaction and retention.
Prioritizing compliance ensures smoother operations, legal protection, and long-term business success.
- Types of Business Compliance:
● Regulatory Compliance: Annual Compliance Services This involves adhering to local and international laws and regulations relevant to a business’s industry and operations. Regulatory compliance helps build trust with employees, customers, and suppliers, enhancing a company’s reputation by ensuring legal and ethical practices.
● HR Compliance: HR compliance ensures a business follows employment laws and regulations, covering aspects like employee documentation, hiring procedures, overtime pay, recruitment, and employee benefits. Complying with HR laws promotes a productive workforce and reduces the risk of legal issues or complaints.
● Data Compliance: With the large amounts of data businesses collect, data compliance is essential for ensuring proper handling of customer and employee data. It ensures data is securely collected, stored, and protected from misuse, corruption, or theft. Non-compliance can damage a company’s reputation and lead to serious legal consequences.
● Health and Safety Compliance: Applicable to all industries, not just healthcare, health and safety compliance ensures businesses provide a safe working environment for employees. Failure to meet safety regulations can lead to accidents, injuries, and significant financial consequences. Ensuring workplace safety is crucial for minimizing risks and promoting employee well-being.
- Annual Compliance Services Process:
GTS ensures your business meets all mandatory annual compliance requirements as per the Ministry of Corporate Affairs (MCA). Here’s an overview of the services:
● Board Meetings: Minimum of four meetings annually, with the first one within 30 days of incorporation.
● Meeting Minutes: Proper documentation and preservation of meeting minutes at the registered office.
● Share Certificates: Issuance within 60 days of incorporation.
● Director Disclosures: Filing of director interests and disqualification declarations.
● Declaration of Commencement of Business: Filing Form INC 20A within 180 days of incorporation.
● Annual General Meetings (AGM): Holding at least one AGM per year, with returns filed within 60 days post-meeting.
● Quarterly Compliance: Conducting at least four board meetings each year.
● Statutory Registrations: Ensuring registrations like GST, Provident Fund, ESI, etc., are completed.
GTS manages all these filings and registrations, ensuring your company remains compliant and avoids penalties.
- Why Choose GTS for Annual Compliance?
● GTS offers a seamless solution for handling your company’s annual compliance needs. Here’s why you should trust us:
● Expert Team: Our in-house team of chartered accountants, lawyers, and compliance managers are dedicated to ensuring your business remains compliant with all legal requirements.
● End-to-End Support: We guide you through every step of the process, from filing mandatory documents to managing board meetings, share certificates, AGM filings, and more.
● Affordable & Efficient: Get all your company compliance requirements done at competitive prices, with no hassle or delays.
● Dedicated Assistance: Our business experts are always available to answer your queries, offering personalized guidance and solutions tailored to your business needs.
Leave your annual compliance needs to us, so you can focus on growing your business with peace of mind.
- FAQs
Compliance Services in India refer to a range of professional services that help businesses meet legal, regulatory, and industry-specific requirements. These services include:
Tax Compliance – Filing tax returns, GST, and tax planning.
Statutory Compliance – Adhering to labour laws, PF, ESI, and other employee-related regulations.
Regulatory Compliance – Following industry-specific regulations like environmental laws.
Company Law Compliance – Filing annual returns, conducting board meetings, and other corporate governance tasks.
Other Legal Compliance – Ensuring compliance with business laws, IP rights, and contracts.
To file annual returns, companies incorporated under the Companies Act of 1956 must submit the following to the Registrar of Companies (ROC):
Balance Sheet (Form 23AC)
Profit and Loss Account (Form 23ACA)
These forms are essential for annual compliance and must be filed to maintain the company’s legal status.
Annual compliance refers to the yearly obligations that companies must fulfill to adhere to legal and regulatory requirements. It includes filing financial reports, conducting annual general meetings (AGMs), maintaining proper company records, and fulfilling tax-related obligations like income tax and GST returns. These activities ensure a company remains compliant with the law and avoids penalties.
Business compliance is crucial because it ensures that a company operates within the legal framework and adheres to industry regulations, protecting it from legal and financial penalties. Compliance helps build trust with investors, customers, and other stakeholders, enhancing the company’s reputation. It also opens up new business opportunities. Non-compliance, on the other hand, exposes the company to risks such as lawsuits, fines, and damage to its reputation, which can hinder growth and success.
Annual compliance under the Companies Act refers to the yearly legal obligations companies must meet to stay legally compliant. This includes:
Filing annual returns (balance sheet, profit & loss account) with the Ministry of Corporate Affairs (MCA).
Holding mandatory Annual General Meetings (AGMs) and board meetings.
Updating company records (e.g., changes in directors, shareholding, or registered office).
Basic company compliance involves:
Filing Annual Returns: Submitting audited financial statements to the MCA.
Holding AGM: Conducting an Annual General Meeting with shareholders.
Maintaining Statutory Registers: Keeping records of directors, shareholders, and meetings.
Director KYC Compliance: Updating directors’ KYC information with the MCA.
These actions ensure legal compliance and good standing with authorities.
Compliance in a Pvt Ltd company involves fulfilling legal requirements such as:
Annual Filings: Submit financial statements and annual returns to the MCA.
Auditor Appointment: Appoint an auditor within 30 days of incorporation.
AGM: Hold at least one AGM annually.
Director KYC: Directors must complete KYC filings.
Statutory Registers: Maintain records of directors, shareholders, and meetings.
Share Capital: Comply with share issuance and transfer regulations.
Director Residency: At least one director must be an Indian resident.
Internal Management: Follow procedures for meetings and resolutions.
Non-compliance can result in penalties and legal issues.
Benefits of Annual Compliance:
Ensures legal operation and prevents penalties or deregistration.
Enhances transparency, attracting investors.
Builds trust with stakeholders and authorities.
Simplifies business processes by keeping records up-to-date.
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