Private Limited Company Compliance

All companies registered in India such as Private Limited Company, one person company, limited company and Section 8 company should submit MCA annual returns and income tax returns every year. Prior to filing annual returns, the company should hold an annual general meeting at the end of each financial year. For new corporate companies, the annual general meeting should be within 18 months from the date of incorporation or within 9 months from the date of expiry of the financial year whichever is earlier. The subsequent annual general meetings should be within 6 months from the end of that financial year. In India, usually the financial year starts on 1st April and ends on 31 March. Therefore, the annual return of the company will be on or before September 30.

In addition to the annual returns of MCA, companies should file income tax returns despite income, profit or loss. Therefore, even non-transactional companies are required to file income tax returns every year. Private limited companies, limited companies, and one person companies will be required to file Form ITR-6. The due date for filing the income tax return for any company is on or before September 30.

eMinds CA offers a comprehensive cloud-based and compliance management service for small and medium-sized businesses. Our compliance service includes financial statements, secretarial services, income tax return filing and MCA annual return filing. Based on the requirement of your business scale, we can also provide GST return filing services, TDS return filing services, advance tax calculation and payroll processing. Stay in touch with an eMinds CA Consultant to start managing your company’s compliance with an easy and hassle-free way.

Private Limited Company Compliance Due Dates in 2019
The compliance requirement for private limited company has drastically changed over the years 2018 and 2019. The following is a summary of private limited compliance due dates in 2019.

Commencement of Business
(Within 180 Days)

After November 2018, there is a need to have a share capital for companies registered in India and a business certificate before starting any business or using any borrowing powers. Business certificate should be obtained within 180 days of incorporation of the business. Due to failure to obtain a business certificate, the company will be fined Rs 50,000 and the penalty will be 1000 rupees per day for every day of the default.

Private Limited Company Annual Filing & Compliances

Auditor Appointment (Within 30 Days)

All companies registered in India will have to appoint a statutory auditor within 30 days of incorporation. Due to failure to appoint an auditor, a penalty of Rs. 300 will be charged per month and the company will not be allowed to start the business.

Income Tax Return (30th Sep 2019)

Private limited companies registered in India will have to file income tax return on or before 30th September 2019 for the financial year 2018-19. Failure to file income tax return is a fine of Rs. 10,000.

MCA Form AOC-4 (30th Oct 2019)

Private limited companies registered in India will have to file MCOC form AOC-4 on or before October 30, 2019 for the financial year 2018-19. Failure to file AOC-4 attracts a penalty of 200 rupees per day for default or delay.

MCA Form MGT-7 (29th Nov 2019)

Private limited companies registered in India will have to file MCA Form MGT-7 on or before 29th November 2019 for the financial year 2018-19. Failure to file MGT-7 attracts a penalty of 200 rupees per day for default or delay.

ACTIVE eForm (25th Apr 2019)

Companies registered before December 31, 2017 are required to file eForm ACTIVE (Active Company Tagging Identification and Verification) – INC22A on or before April 25, 2019 Failure to file an e-form active file will cost a penalty of Rs. 10,000.

Form DPT-3 (22nd Apr 2019)

Form DPT-3 filing should be made by all companies other than a government company on or before April 22, 2019. Therefore, all private limited company, OPC, limited company or Section 8 company will be required to file Form DPT-3 once.

DIN eKYC (To be Announced)

DIN eKYC or DIR-3 eKYC form must be filed for all the directors of the company. In the DIAR-3 EKYC filing, the director must provide and verify a unique personal mobile number and personal email address. Failure to file DIN eKYC attracts a fine of Rs.5000 per DIN.

MSME 1 & 2 (To be Announced)

All companies receiving service from MSME enterprises must enter MSME 1 & 2 each year. MSME 1 should be filed within 30 days of becoming live on MCA portal and MSME Form 2 will be filed on or before October 31. Due to failure to file the form, Rs. 5000 fine.

BASIC

For companies with a turnover of upto Rs.25 lakhs

Rs.19000
  • Bookkeeping
  • Financial Statement Preparation
  • Annual Report
  • Director’s Report
  • Board Resolution Preparation
  • MCA Annual Return Filing
  • Income Tax Return Filing
  • 1 Year Dedicated Compliance Manager Support
  • Commencement of Business Certificate
STANDARD

For companies with a turnover of upto Rs.50 lakhs

Rs.29000
  • Bookkeeping
  • Financial Statement Preparation
  • Annual Report
  • Director’s Report
  • Board Resolution Preparation
  • MCA Annual Return Filing
  • Income Tax Return Filing
  • 1 Year Dedicated Compliance Manager Support
  • Commencement of Business Certificate
PREMIUM

For companies with a turnover of upto Rs.100 lakhs

Rs.39000
  • Bookkeeping
  • Financial Statement Preparation
  • Annual Report
  • Director’s Report
  • Board Resolution Preparation
  • MCA Annual Return Filing
  • Income Tax Return Filing
  • 1 Year Dedicated Compliance Manager Support
  • Commencement of Business Certificate

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Business & Financial Services

We have dedicated professionals in our pay roles who offer financial, advisory as well as consulting advice.

Dedicated Advisor

Your company will be assigned a dedicated compliance manager who will be a point of contact to assist you in maintaining compliance with your company. You can contact your Compliance Manager at any time and get help on matters related to your company.

Accounting

All companies are required to maintain accounts and prepare financial statements at the end of each financial year. Our Compliance Manager will help your company maintain the account and will prepare financial statements for your business at the end of the financial year.

Secretarial Services

Companies need minimum four board meetings, one annual general meeting, the report of the directors and annual report in each financial year. Our Compliance Manager will help you prepare minutes of board meeting and create all secretarial reports.

Filing MCA Annual Returns

The annual general meeting should be held by a company within 6 months from the end of that financial year. And MCA annual returns should be filed on or before September 30. Our Compliance Manager will prepare all documents and submit your company’s MCA annual returns.

Filing Income Tax Return

Income tax return of any company should be filed in spite of income, profit or loss. Therefore, even non-transactional companies are required to file income tax returns every year. Our Compliance Manager will prepare all the documents and file your company’s income tax return.

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