Bare Minimum Compliances by the Private Limited Company

 

 

There are various compliances which the private limited companies are required to do on a regular basis. Here is a short compilation under the Companies Act, 2013, and other applicable laws & regulations which is required o be done by the private limited companies.

 

Though the list of compliances is exhaustive and keep on changing, the following may enable to ensure basic minimum compliances:

 

Mandatory Compliance

AOC-4 & MGT-7 – ROC Filings
ADT-1 – Auditors Appointment
DIR-3 – Filing of Directors KYC
MBP-1 – Notice of Interest by Director
DIR-8 – Intimation by Director
Financials preparation (B/S, P/L etc.)
DPT-3
INC-20A
Statutory Audit
Filing of Income Tax Return
Annual report & Director’s report
Return on Foreign Assets & Liabilities

 

 Statutory Registers & Minutes

Minimum four board meetings
Hold an Extra General Meeting (EGM)
Annual General Meeting (AGM)

 

 

Operational day to day Compliances

Payment of periodic dues: GST Liability, TDS & TCS mandatory payment
Non-Registrar compliance of periodic returns (Monthly, quarterly, annual returns)
Monthly/Quarterly- GST Returns
Quarterly-TDS Returns
Accounting & Book-keeping
ESI – PF Compliances

 

One may note that the failure to comply with these annual requirements can result in penalties & legal liabilities for the company & its directors. Therefore, it is important for a private limited company to ensure timely and accurate compliance with these requirements.