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Expert Guidance on Company Compliance for Private Limited Companies
Navigating the intricate Company compliance requirements for private limited companies in India can be daunting. Compliance with the Companies Act 2013—covering everything from director appointments to shareholder meetings and other regulatory obligations—is essential. The regulatory landscape may seem overwhelming, but with expert assistance, the process becomes much simpler.
Bharat United Startups offers tailored solutions to meet your compliance needs, ensuring your company stays on track. Our team of specialists is proficient in Indian business laws and regulations, and we’re here to guide you through each stage of the compliance journey. Whether you’re a startup or an established company, Bharat United Startups simplifies the process for you.
Let’s Make Company Compliance Hassle-Free Together!
Company Compliance for Private Limited Companies
Compliance refers to adhering to a set of rules and regulations. For private limited companies incorporated in India, complying with the Companies Act 2013 and fulfilling obligations towards the Registrar of Companies (RoC) is non-negotiable. These laws regulate key business activities such as the appointment and removal of directors, conduct of board and shareholder meetings, and other statutory requirements. Company Compliance is mandatory for all private limited companies, regardless of turnover or capital.
Company Compliance Categories for Private Limited Companies
To simplify, we can break down the compliance requirements into two broad categories:
| Category | Description |
|---|---|
| ROC Compliance | Obligations regulated by the Registrar of Companies (RoC). |
| Non-ROC Compliance | Other essential regulatory requirements beyond RoC jurisdiction. |
ROC Compliance for Private Limited Companies
The Registrar of Companies (RoC) mandates compliance through annual filings, event-based filings, and other regulatory obligations. Below is a detailed overview of ROC compliance:
1. Annual Compliance
These are regular filings and disclosures that companies must complete yearly, such as submitting financial statements and annual returns.
| Company Compliance | Due Date |
|---|---|
| Commencement of Business | Within 180 days of incorporation |
| Appointment of Auditor | Within 30 days of incorporation |
| Board Meetings | At least 4 times a year, with no interval exceeding 120 days |
| Annual General Meeting | First AGM within 9 months of the first financial year, then every 6 months |
| Form AOC-4 (Financial Statements) | Within 30 days after AGM |
| Form MGT-7 (Annual Returns) | Within 60 days after AGM |
2. Event-Based Compliance
These company compliances are triggered by specific events, such as changes in management, share capital, or business operations.
| Event | Relevant Compliance | Due Date |
|---|---|---|
| Change in authorized share capital | File relevant forms with RoC (e.g., Form SH-7) | Within 30 days |
| Appointment of directors | File Form DIR-12 for appointments/resignations | Within 30 days |
| Loans to directors | File necessary forms for disclosing loans | As per the occurrence |
3. Other Company Compliances
These include obligations not necessarily tied to the annual or event-based categories, but vital for maintaining the company’s legal status.
| Compliance | Details |
|---|---|
| Director KYC | Form DIR-3 KYC filing required annually by September 30th |
| Return of Deposits (DPT-3) | Report deposits annually, by June 30th |
| Maintenance of Statutory Registers | Maintain registers and records throughout the year |
| Director’s Report | Prepared before AGM, distributed at least 21 days in advance |
Non-Registrar Compliance
Non-ROC compliance includes fulfilling various statutory obligations outside the RoC’s purview. These may involve multiple other regulatory bodies, depending on the nature of the business.
| Compliance | Description | Due Date |
|---|---|---|
| GST Payments & Returns | Monthly/quarterly returns and payments | As per due dates |
| Income Tax Returns (ITR) | Filing of ITR for the company | By the due date |
| TDS Filing | Quarterly filings of Tax Deducted at Source | Quarterly |
| PF & ESI Returns | Provident Fund and Employee State Insurance returns | Monthly or half-yearly |
Penalties for Non-Compliance
Failure to comply with the Companies Act can lead to severe penalties for the company and its directors. Penalties may include:
- Fines for delayed filings
- Charges for non-compliance with annual return submissions
- Penalties for missed deadlines for financial disclosures
Streamline Your Company’s Compliance with Bharat United Startups
BharatUnitedStartups is here to help you manage and streamline your company’s compliance. Our platform provides a range of services to ensure that all filings are completed on time. Here’s how we support your business:
| Service | Description |
|---|---|
| Compliance Platform | Track deadlines, manage compliance obligations, generate reports, and stay organized. |
| Dedicated Compliance Manager | Get assistance from a dedicated expert who will guide your company through all compliance requirements. |
| Accounting Services | Our Compliance Manager helps you prepare financial statements and maintain proper accounts throughout the year. |
| Secretarial Services | Prepare minutes for board meetings, AGMs, and other necessary reports. |
| MCA Annual Return Filing | We handle the preparation and filing of your company’s annual return with the Ministry of Corporate Affairs (MCA). |
| Income Tax Filing | Prepare and file your company’s income tax return, regardless of income or losses. |
Conclusion
Navigating company compliance can be complex, but with Bharat United Startups, you can streamline the process and ensure that your private limited company stays on the right side of the law. Our comprehensive services and expert guidance take the burden off your shoulders, making company compliance hassle-free.
Ready to simplify your company compliance? Get Started with Bharat United Startups Today!
For more information on Company compliance Refer MCA Portal
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Frequently Asked Questions About Company Compliance
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