Annual Compliance Checklist for Private Limited Companies in India
Private Limited Companies in India must comply with various statutory requirements under the Companies Act, 2013. Non-compliance can result in penalties ranging from Rs. 100 per day to Rs. 5 lakh per form, and continued defaults may lead to director disqualification or company strike-off.
Board Meetings: Hold at least four board meetings in a calendar year with a maximum gap of 120 days between two meetings. The first board meeting must be held within 30 days of incorporation. Proper notice and minutes must be maintained for all meetings.
Annual General Meeting (AGM): Every company must hold an AGM within six months of the financial year-end (by September 30). The first AGM must be held within nine months of incorporation. In the AGM, financial statements are presented and directors and auditors are appointed.
Form AOC-4 (Financial Statements): File audited financial statements including balance sheet, profit and loss account, and cash flow statement within 30 days of the AGM. The filing fee is based on authorized capital, with late fees of Rs. 100 per day.
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Talk to an expertForm MGT-7 (Annual Return): File the annual return within 60 days of the AGM. The return includes details of shareholders, directors, registered office, and shareholding changes. Small companies (paid-up capital up to Rs. 4 crore and turnover up to Rs. 40 crore) can file the abridged MGT-7A.
Director KYC (DIR-3 KYC): Every director holding DIN must file DIR-3 KYC annually by September 30. Non-compliance results in DIN deactivation, and reactivation requires payment of a late fee of Rs. 10,000.
Income Tax Return: File ITR-6 (for companies) by October 31 annually. If the company is subject to transfer pricing provisions or tax audit, the due date may be extended. Tax audit under Section 44AB is applicable if turnover exceeds Rs. 1 crore.
Maintain Statutory Registers: Every company must maintain registers including Register of Members, Register of Directors and Key Managerial Personnel, Register of Charges, Register of Contracts, and Minutes of Board and General Meetings. These must be kept at the registered office and updated regularly.
Axaon helps companies manage their annual compliance through a structured calendar, document reminders, form preparation, and filing coordination. Our compliance support ensures no deadline is missed and all statutory requirements are fulfilled accurately.
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