Introduction to Annual Compliances of Pvt Ltd Companies
Starting a Private limited company is quick and easy in India. But it is important to keep the company at the active status on the MCA portal. The active status on the MCA portal shows that the company is a good acquiescent of IT and ROC norms. All Private Ltd. companies in India should follow the MCA and companies Act rules. The companies need to file mandatory ROC forms to be in the good books of ROC. Looking for Private Limited Company Annual Compliances Near Me Online in Chennai? iMaster India Private Limited offers end-to-end Private Limited Company Annual Compliance services. Enjoy the services at affordable costs.
What is Private Limited Company Annual Compliances
A private company is a separate legal identity. It must maintain ‘active’ status on the MCA website portal. At the end of every financial year, annual returns forms with ROC must get submitted online. It is compulsory to submit ROC forms. Even when you have zero turnover or business transactions. Even a company with no business transactions should meet with annual compliances.
The major company annual compliance is reporting financials and company activities. It can be company shares / its directors/management. / loans / investments etc. A company’s financial statements are accessible at the MCA portal. It becomes easy for an investor, banker, and company audience to track the company status. Continuous failure with ROC formalities company name removal from ROC. Directors get disqualified too.
Benefits of Private Limited Company Annual Compliances?
There are a host of benefits of Private Limited Company Annual Compliances. It is of prime importance to a company to abide by ROC and company law and other acts. The date of annual return filing gets reflected in the MCA portal. The regularity in compliance is important for loan approval. It is also essential for investors’ approval, supplier-vendor trust, and other business audience. The regularity in compliance is an important criterion for a company’s credibility. Hence get your Annual Compliances done on time with utmost accuracy. And improves your business credibility. Further, it helps you to attract investors. It is not easy to pool funds for your company. The investors demand complete financials as on date before going through your proposal. Investors can seek these financials from you, or they can get them from the MCA portal too. Many investors favour companies who have regular compliance records. Moreover, Annual compliance helps you to maintain ‘active status on the MCA portal. No need to worry about heavy penalties. No worries of removal of company name from the ROC or disqualification of directors.
Checklist of Private Limited Company Annual Compliances
Private Limited Company Annual Compliances start right from the date of company registration. A company must follow various statutory and regulatory norms.
A major number of start-ups are getting registered as companies. But many companies do not about their Annual compliance. Being ignorant is not an excuse in the eyes of law. Even remote village companies have access to the world wide web. You could get all compliance done online.
The MANDATORY COMPLIANCE CHECKLIST of a company is as follows. – ROC form Business commencement certificate. ROC form for Notice of director interest. ROC form for director declaration to board about his qualified directorship. Hold 4 board meetings every 3 months of a financial year and Hold AGM every year. Maintain financial records, accounting, and board reports, and annual compliance. Appointment of a company auditor. Submit roc form for auditor appointment. Maintain statutory register. Annual IT returns filing, and Annual ROC returns filing.
EVENT-BASED COMPLIANCE. – These are the compliances that a private limited company has to follow on the occurrence of an event. Respective ROC forms have to file for such a happening event in a company. It includes events like Loans given to other companies. Loan to director or loans taken from directors. Director appointment or director change. Change in the capital. Transfer of shares. Allotment of shares. Opening or closing of a bank account. Change in bank account signatories. Company registered office address change and so on.
NON-REGISTRAR COMPLIANCE involves payment of periodic taxes like GST, TDS, and so on. Periodic filing of returns like GST, TDS, Advance tax assessment and payments, IT return filing and Tax audit report filing. Regulatory assessment of business if applicable like factories act etc.
We understand that often entrepreneurs get overwhelmed with too many compliances. Need help? Hire iMaster India Private limited services. Avail end-to-end Private Limited Company Annual Compliances services based on your needs. Many companies neglect annual compliance. They do not have any idea about the annual compliance of Pvt. Ltd. companies. Due to strict regulations, they suffer unnecessary penalties. It is smart to appoint professional Chartered Accountants &Company secretaries for your company. You are free to concentrate on your core business. Leave the worries of compliance to your virtual CFOs. iMaster India private limited offers best rated virtual CFO services at nominal fees.
How to select the best ROC consultant for your company?
It is important to entrust your Company’s Annual Compliances to trustworthy professionals. They must be able to care for any situations or contingencies for your company. A company must understand what its ROC obligations are. It helps to avoid unnecessary costs and save time and tons of effort. iMaster consultants make your life easy. With their end-to-end ROC plans to cater to all your compliance and business needs. For more details contact our consultants today for a free consultation.
Why Chennai iMaster as your Annual Compliance Partner?
Our entire iMaster ROC team consists of high intellect professionals. They include CAs, CSs., Advocates, MBAs, finance, and tax experts. Get all ROC compliance, ROC filings, and professional advisory under a single roof. iMaster India Private Limited offers all services at a single stop. We are one of the top-rated ROC consultants in India. Our team can absolve all your worries about your compliance, filings, &back-end tasks. Engaging our virtual CFO consultants gives your more time for business activities. We can take care of your statutory books, meetings, notices, accounting, filing returns, advisory, and other legal compliances.
Our ROC filing Package plans include Drafting Notice, Company Annual filing, AOC 4 Filing, MGT 7 Filing , ADT 1 Filing, Annual Return Certification, AGM Minutes , 4 Board Meeting minutes draft, Statutory Register, & 1 year IT filing. We can tailor our services best suited to the company’s needs. We have a transparent pricing policy. We have not hidden costs and no binding contracts. We ensure your company returns get filed on time with utmost accuracy. Get in touch with our ROC experts today over call or chat. You could also email us to know more about the service plans. Dial us now for a free consultation.