In today’s fast-paced business world, adhering to annual compliance requirements is essential for Private Limited (PVT) and Limited Liability Partnership (LLP) companies. Failure to do so can result in hefty penalties and legal complications. Fortunately, with the New Startup Event, ensuring compliance for your company is easy and efficient, and it all starts from just ₹9999 for an entire financial year, subject to terms and conditions.
Why should I use Newstartupevent.com for the annual filing of company compliance?
Staying compliant with annual regulations doesn’t have to be a complex and time-consuming process. New Startup Event simplifies it for you with a streamlined approach:
1. Booking a Slot with Compliance Experts
The first step is to book a slot with our compliance experts. We understand that every company is unique, and our experts will guide you through the compliance process tailored to your specific needs.
2. Providing Essential Information
To ensure a smooth compliance process, you will need to provide all the required information. Our experts will assist you in gathering the necessary documentation, making this step hassle-free.
3. Completing Your Company Compliances
Once all the information is in place, our team will take care of your company compliances, ensuring that you meet all the regulatory requirements without a hitch.
Annual Filing of Company – An Overview
Company compliance is an important aspect that has to be taken into account while running a business. It is mandatory to adhere to all the ROC compliance to avoid penalties. All private limited companies, one-person companies, limited companies, and section 8 companies must maintain annual compliance with respect to the Companies Act of 2013. These company compliances are usually independent of the total turnover or the capital amount involved. The ROC compliance for registered private limited companies is mandatory. Not being able to adhere to the annual compliances for private limited companies may result in serious action against the firm.
In reality, it is tough to maintain all the annual compliances for private limited companies. That is why Newstartupevent.com is here to help with the annual filings of companies and provide information regarding company compliances.
Annual Compliance for Private Limited Company
Similar to other businesses, the annual compliance of private limited companies should be taken seriously. All the company compliances should be filed on or before the due date. Here are some of the private limited company compliances that you should not miss.
Business Commencement Certificate
- As part of annual compliance, Private Limited companies must obtain a Business Commencement Certificate within 180 days of company incorporation. This rule applies to companies registered after November 2019 with share capital.
Penalty for Non-Compliance: Failure to procure the Business Commencement Certificate can result in a ₹50,000 penalty for the company and ₹1,000 for each default day paid by the director.
Appointment of an Auditor
- Within 30 days of incorporation, an auditor must be appointed as per ROC compliance. This information must be included in the annual filing of the company.
Penalty for Non-Compliance: Failing to appoint an auditor results in a fine of ₹300 per month. The company will not be allowed to conduct business until an auditor is appointed.
Filing Income Tax Returns
- Filing income tax returns is a crucial part of annual compliance for Private Limited companies. These returns must be filed on or before the due date.
Submitting MCA Form AOC-4
- Private Limited companies are required to submit Form AOC-4 to the Ministry of Corporate Affairs (MCA) as part of their annual compliance. This must be done on or before November 13.
Penalty for Non-Compliance: Failure to file this form results in a penalty of ₹200 per day of default.
Filing MCA Form MGT-7
- As part of Private Limited company compliance, filing MCA Form MGT-7 on or before December 31 of every year is essential.
Penalty for Non-Compliance: Defaulters must pay a penalty of ₹200 for each day of default throughout the period.
Filing for DIN eKYC
- Every Private Limited company should have a director, and for seamless operations, a Director Identification Number (DIN) is required. Directors must file DIN eKYC within the specified period.
Penalty for Non-Compliance: Any default or delay in filing DIN eKYC will result in a penalty of ₹5,000.
Holding Annual General Meetings (AGM)
- Compliance for Private Limited companies requires holding Annual General Meetings (AGMs). Information about AGMs is an integral part of the annual filing of companies. AGMs must be held within six months of the fiscal year’s end, in accordance with ROC compliance.
- Private company compliance involves timely submission of director reports to ROC and MCA. All required information must be submitted in adherence to Section 134.
By entrusting New Startup Event with your annual compliance, you can focus on growing your business, knowing that your legal obligations are being handled meticulously. Don’t let the burden of compliance weigh you down. Get in touch with us today and ensure that your Private Limited or LLP company stays on the right side of the law.
Annual compliance is an integral part of running a Private Limited or LLP company. Neglecting these obligations can result in significant financial penalties and legal repercussions. New Startup Event makes the process easy and hassle-free, allowing you to focus on your business’s growth and success.
Frequently Asked Questions
1. What is the cost of New Startup Event’s annual compliance package?
The cost of our annual compliance package starts at just ₹9999 for an entire financial year. Please note that terms and conditions apply.
2. Why is annual compliance essential for Private Limited and LLP companies?
Annual compliance is mandatory to adhere to the regulations outlined in the Companies Act of 2013. Failure to comply can lead to penalties and legal actions against the company.
3. How can I book a slot with New Startup Event’s compliance experts?
Booking a slot with our compliance experts is simple. You can get in touch with us through our website or contact our customer support for assistance.
4. What are the consequences of not appointing an auditor within 30 days of incorporation?
Failing to appoint an auditor within the stipulated timeframe can result in a fine of ₹300 per month, and the company will be prohibited from conducting business until an auditor is appointed.
5. Is there a grace period for filing annual compliance documents?
The deadlines for annual compliance documents are stringent, and failing to meet them can lead to penalties. It is essential to file all required documents within the prescribed timeframes.