Mandatory Annual Filings for Private Limited Company in India

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Private Limited Company Annual ROC And Tax Filing for Financial Year 2017-18

Posted on by Fastlegal Team

Private Limited Company is required to make various legal and tax related filings as par Companies Act and Income Tax Act every year mandatory, even Private Limited Companies having zero turnover are required to file its Income Tax Return to Income Tax Department and Financial Statement and Annual Return to Registrar of Companies, Private Limited Company is also required to appoint Chartered Account within 30 days of its Incorporation  and there at First Annual General meeting of the company for a period of five years as Statutory Auditor to audit the Accounts of the company.

Every Private Limited Company is required to maintain books of accounts either in electronic form or physical and all the documents including vouchers, invoices  of all the financial transitions for the period of eight years.

Private Limited Companies are required to maintain various registers of its Members, Share Transfers, Directors, Charges, Debenture Holders etc

Process for Private Limited Company Annual ROC and Tax Filings for Financial year 2017-18

  1. Finalization of Accounts of the Company : Director of the Company are required to Finalize the Accounts as soon as  financial year get end for the purpose of audit of accounts.
  2. Audit of Accounts : Statutory Auditor will audit the Accounts and will issue audit report in  respect of financial Statements.
  3. Finalization of Directors Report – Directors of the company are required to prepare and approve the Directors report.
  4. Issue of notice for holding Annual General Meeting : Every Private Limited is required to hold its shareholders meeting for each year within 6 months form the end of Financial year, first annual general meeting of the company may be held within 9 months form the date date of end of financial year.
  5. Holding Annual General Meeting
  6. Filing of form ADT-1 for appointment of statutory auditors at first annual general meeting of the company for a period of 5 years, auditor can also be reappointment at next Annual General Meeting after end of 5th AGM. Form ADT-1 is required to filed within 15 days form the date of AGM
  7. Filing of Form AOC-4 – Form AOC-4 is required to be filed within 30 days form the date of Annual General Meeting of the Company. Financial statement including Directors Report is required to attached with Form AOC-4 and this form is required to be certified by Practicing Professional Company Secretary, Chartered Accountant or Cost Accountant. Non Filing of e Form will attract additional fee of Rs. 100 every day.
  8. Filing of form MGT-7-  Form MGT-7 is required to be filed within 60 days of Annual General Meeting of the Company, List of Shareholders and Directors information is basically given in Annual Return. Non- filing will attract additional Fee of Rs. 100 per day.
  9. Filing of income Tax Return : Last date for filing Income Tax return  is 30th September.

Directors KYC : Every Director of the Company is required to file e form DIR-3 KYC upto 30th April Every year, in year 2018 this form can be filled upto 30th August 2018 without any fee and Rs. 5000 is payable after due date.

 

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