Annual Compliance

Annual Compliance

Companies have to Comply with following compliance such as :

A. Compliances with Registrar of companies:

Filing the various return, forms and documents and these could be categorized in two heads.

  • Annual compliance filling – Compliances which are required to be made once in a year by all the companies incorporated under the Companies Act, 1956 or 2013.
  • Other Compliance fillings – Compliances which are required to be made from time to time on various events.

Mandatory Compliance under Companies Act, 2013

Every Private Limited Company needs to follow some Mandatory Compliance during Financial Year irrespective of its capital and turnover. The Mandatory Compliance of Private Limited Company are as listed below:

  • Meeting of Board of Directors

The Board of Directors of Company needs to hold minimum one meeting once in three months. To keep the record of the meeting, it is important to draft notice and agenda of the meeting, draft resolutions and record the resolutions passed at the meeting in the Minutes Book;

  • Disclosure of Interest by Director

The directors of every company are required to file the disclosure of interest once in a year with the Registrar of Companies;

  • Hold Annual General Meeting once every year; and
  • Filing of Annual Returns in for AOC 4 and MGT 7.

B. Compliance with Income Tax Department:

  • Calculation and Quarterly Payment of Advance Tax
  • Filing of Income Tax Returns (Companies are Taxable at a flat rate of 30%)
  • Tax Audit is Mandatory where the sales, turnover or gross receipts exceed Rs. One Crore in the previous year.
  • Filing of Tax Audit Report.

C. Annual filing of FSSAI

D. Other Annual compliances

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