Private Company Annual Filing

A private limited company (Pvt ltd Company) is the most common vehicle to carry on business for an entity intending to make profit. For healthy growth and smooth running of the business there are various compliances which pvt limited company is required to follow after their incorporation or registration.

Compliances are of two types, one is Annual compliances and another is event based compliances. Annual Compliances includes holding Board Meetings, Annual Filing, taking note of disclosure of interest of Directors etc. and event based compliances may be Increase in Authorised Share Capital, change in directors etc.

Here we are going to discuss one of the most important Annual compliance for Private limited Company i.e Annual Filing.

Every Private company after completion of one financial year has to start work on Annual Filing i.e Annual Return, Financial statements & Director’s Report or private company financial reporting related to relevant financial year. Financial statements and Annual return has to be filed within 30 and 60 days respectively from the date of Annual general meeting in which financial statements are approved by the shareholders.

Private Company Annual return is divided into two categories as follows:

1. Small Company annual return filing: Every private company limited whose paid up share capital is less than Rs. 50 Lakhs and Turnover less than 2 crore is a Small Company.
2. Other than small company: Every privately held company or Private Company other than small company has to file its financial statement i.e Balance sheet, Profit and loss account and Cash Flow Statement along with necessary attachments and annual return with the concerned registrar of companies (ROC).

The Private companies under Companies Act 2013 are required to E-file annually the following documents with the Registrar of Companies as follows:

Type of Documents

E-form

Due Date

Balance Sheet

AOC-4

30 days from the date of AGM

Profit & Loss Account

AOC-4

30 days from the date of AGM

Annual Return

MGT-7

60 days from the date of AGM

Exemption

However, certain exemptions have been granted to Private Companies under Companies Act 2013 like Small Company as defined above are exempt from signing of Annual Return (MGT-7) and Financial Statement (AOC-4) by Practicing Company Secretary, Practicing Chartered Accountant or Practicing Cost Accountant.

Penalty

In case of default in filling the documents, every Private company and every director is charged with heavy fine and penalty, which may extend to Rs. 10 Lakhs.

So, in order to avoid penalty, StarturCompany helps to file Annual Return and Financial Statements on time at a very affordable price.

For more information please visit our site www.starturcompany.com or call us @ 8527046791, 9599580906 or mail us at support@starturcompany.com