Annual Compliance for Private Limited Company : 2022

India’s Only Govt Certified Portal “MyOnlineCA” to get done your Annual ROC Compliance for Private Limited Company under Registration No “DIPP9122”


What is Annual Compliances for Private Limited Company ?

Hey, Entrepreneurs which are already running their business or startups in India now they have to prepare for the Annual compliances for Private Limited Company season in coming Sept-Oct 20. So today we are talk about the Compliance for a Private Limited Company. There are lot of the startups or business in india which have one of the most popular legal entity i.e is private limited company but they don’t know about its list of compliances for private limited company.

Since the inception of The Companies Act on 1956, the definition and scope of private companies have undergone a lot of changes. Nowadays, the startup has become a trend but certainly, it is not at all an easy task to run a private corporation, at least not for a faint-heart. Apart from all other realistic issues, there are legal issues too. The law demands and tries to limit private companies by issuing a lot of compliances and conditions mentioned under The Companies Act, 2013. Well, sometimes, it can be little tricky to understand all the compliance with its common legal words. Hence, it is necessary after Pvt Ltd Company Registration to take help of experts and avoid unnecessary govt penalties.

List of Annual Compliance for Private Limited Company

1. Appointment of Auditor ( within 15 days of Incorporation)
2. Annual ROC filing – Last Date ( 29th October 2022)
a) Annual returns
b) Financial statements
3.  Annual general meeting (AGM)
4. Board Meetings
5. Reports of directors

6. Income tax – Last Date ( 30th November 2022)
7. Maintenance of records
8. Other compliances

Annual Compliance fee for Private Limited Company

We have Awesome 3 Packages for Compliances for Private Limited Company

For Nil Transactions & No turnover – Rs. 10,000/-
For Transactions (like Expenses) But No turnover – Rs. 13,000/-
For Turnover Upto the Limit of Rs. 10 lacs – Rs. 17,000/-

Package Includes

#1 Preparation of your Company Financial Statements.
#2 Preparation of your Company All the Reports.
#3 Appointment of the Auditor.
#4 Certification from the Auditor.
#5 Filings with the Registrar of Companies.
#6 Prepare your Company Income Tax Returns & Filings.

3 Steps For ROC Compliances for Private limited Company

Step1. Fill Up your Compliance Form with your Company basic Details
Step2. Make Payment Online 9999/-INR “Cards/Netbanking/UPI” in Secure Payment Gateway
Step3. Be Relax ! You will connect with Dedicated CA and get done Compliance in 7-8 days​


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List of compliances for private limited company

Below are the full updated statutory compliance checklist for private limited company in 2020 :-

1. Appointment of Auditor

Before explaining this provision, we have to know the term and purpose of a statutory audit. Statutory audit is nothing but same as any other audit. It is needed for determining whether a company is providing fair dealing of its financial condition by providing bank balance, financial transactions, etc. For this purpose appointment of an auditor in every private company is a mandatory thing. As provided under the Companies Act, 2013, an auditor will be appointed by a company for a term of 5 years. And if it is a new business, the auditor has to be appointed within one month of the inauguration of the enterprise. So its a very important for private limited company compliances.

2. Annual ROC filing

Every private company are under an obligation to file details of annual accounts and returns of its shareholders, directors, etc. to the Register of the enterprise. This compliance is to be fulfilled once in a year in the below-mentioned ways-

a) Annual returns
It is mandatory for every private company to disclose the details of its annual returns within a period of 60 days. And the days will be counted from the last annual meeting held. The annual returns will be calculated from 1st April to 31st March.

b) Financial statements
Just like the aforementioned point, every private company are supposed to disclose the details of its balance sheet and financial statement of profit and loss within a period of 30 days from the last annual meeting held.

So above Annual Returns and Financial Statements like Balance Sheet & Profit and loss account finalisation is one of Most Important one of the list of compliances for private limited company, even through this compliance startups know about their financial growth and valuations.

3. Annual general meeting (AGM)

An annual general meeting of the shareholders of a private company, is mandatory to be held within a period of 1 year. But it should be held six months before the closing of the financial year. The first motto of AGM is to discuss certain essential topics like approval of financial statement, appointments of auditors, salary or remuneration for directors, dividend declaration, etc.

The AGM should not be held on public holidays. It should be held during business hours and at the registered office of the company, whether it is a city or village.

4. Board Meetings

Board meetings are considered as an essential condition for private companies just like the AGM. The first board meeting of a company should be held within a period of 30 days from the incorporation of the enterprise. There shall be at least four board meetings in a year, and the interval between two board meetings should not exceed a period of 120 days. However, in the case of small companies, there is an exception. Private Limited Companies are allowed to conduct at least two board meetings instead of four, which means it is an exception for start-ups because all startups are considered as small companies. Two directors should be present at the board meeting, or if there are more than two directors, 1/3rd of the total directors should attend the board meetings. But directors should be given at least 7 days notice prior to the date of the board meeting.A detailed discussion of the meeting should be recorded and drafted as a file, and that file should be sustained at the registered office of the company.

So above Annual General Meeting are mostly for the Shareholders to discuss about the Financial Growth in a Startup Company and Board Meeting are between the Directors to discuss about the operational growth in a Startup Company so from the startup point of view its a annual compliance for private limited company.

5. Reports of directors

As mentioned under section 134 of the Companies Act, 2013, every director is under an obligation to submit reports containing details about the directorship in other companies every year. This shall be in writing, and a special formal report should be followed.

6. Income tax

In case of income tax, some prescribed ways should be developed- Firstly, calculation of tax and advance payment of such calculated tax. Secondly, filing of income tax returns. Thirdly, filing of the tax audit.

7. Maintenance of records

Every private company are required to maintain proper records and registers of directors, members, shares, etc. And such documentations are to be kept at the registered office of the company.

8.Other compliances

Apart from the above-mentioned agreements, there are some events based compliances too, which are as followed-

A) Giving loans to other companies.
B) Providing loans to directors.
C) Change in paid-up capitals of the enterprise.
D) Opening or closing up bank accounts.
E) Appointment or change in auditor of the enterprise.

So above are the Important Compliance for a Private Limited Company in India. From the Startup Points of view we have to followed mostly all above compliance but yes some compliance are happened on the particular events in the company. so Below are the summary on the Compliance for a Private Limited Company as Startup Point of View.

Statutory Compliances for private limited company Due Dates

Name of Compliance

Due Date of Annual Compliance

Board Meetings

Minimum – 4
Maximum gap between two board meetings – 120 days

For Small Companies – 2 board meetings will be sufficient instead of 4

Appointment of Auditor

Every company has to appoint an auditor for a period of 5 years by
filing a form ADT-1 with in 15 days.

Filing of Income Tax Return

Must be filed before 30th November 2020 for the F.Y 2019-2020

Holding an AGM

Companies are required to hold AGM with-in period of Six months i.e.
before 29th October 2020

Filing of Financial Statements

It is to be filed with ROC in the Form AOC -4 with in 30 days from the
date of AGM ie. on before 29th October 2020

Annual ROC Returns

Annually ROC Returns is to be filed with ROC with in 60 days of AGM