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BUSINESS & COMPLIANCE

ANNUAL COMPLIANCE

PRIVATE LIMITED COMPANY

PRIVATE LIMITED COMPANY ANNUAL COMPLIANCES


Every Company incorporated in India has to mandatorily file necessary documents with the Ministry of Corporate Affairs. Yearly filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, profit and loss account and annual return i.e. shareholding pattern. Company’s mission and history and summary of the Company’s achievements in the past year are recorded in the report which includes research advances, market share gains or honors awarded to the Company or its employees. Annual report provides financial details of the Company that serves as marketing tool for your Company. It shows the financial track record of the Company and record of the growth of the Company in past years is shown. we have separate wing of experts handling matters for Company Annual Filing, providing help at every single stage of the process.
A private limited company is required to file the required documents with ROC annually. It is also required to file Income Tax return, if applicable.
As a part of Annual Filing, companies incorporated in India - including subsidiaries of foreign companies, joint venture companies and others, under the Companies Act, 2013 and 1956 are required to file the following documents along with the e-Forms with the Registrar of Companies (RoC) with proper jurisdiction over the company:

Documents Required:- (All copies of documents should be self-attested by the customer)


Type of Document TYPE OF E-FORM Purpose of Filing of Form
Balance –Sheet Form AOC-4. Filing of Financial Statement with the ROC
Consolidated Financial Statement Form AOC-4 (CFS) Companies which have Subsidiary Company, Associate Company and Joint Ventures.
Profit & Loss Account Form AOC-4. Filing of Profit & Loss Account with the ROC
Annual Return Form MGT-7. To be filled by Companies having share Capital. To give information relating to directors and shareholder for the period of Financial Year.
Annual Return Form MGT-7 To be filled by companies not having share capital.
Director Report Director Report along with Following Annexure:
  1. AOC-2
  2. MGT-9
  3. Secretarial Audit Report
Application for KYC of Directors DIR-3 KYC For filing of KYC of directors.
Filing of CTC of Resolution Form MGT-14 (for the Companies except Private Limited Company) For the purpose of adoption of Balance Sheet and Director Report.

This time the Balance Sheet and the Profit & Loss Accounts are to be filed as two separate documents with different e-forms;

Important Points to Remember

1)Each e-Form along with the relevant attachment should be less than 2.5 MB.
2)The Annual Return, the Balance Sheet and the Profit & Loss Account are filed as attachments to the respective e-Forms. So far, the users have been filing the attachments as scanned images of those documents. Please note that a scanned copy considerably increases the size of the document besides being more expensive. As such, you are advised to use the Text file/ Excel sheets as such, convert the same into PDF by using the PDF converter (the software is available on the portal for a registered user without any charge) and upload these attachments as PDF documents.
3)The MCA21 database in respect of Authorized Capital and Paid-up Capital may not be correct. The companies have been requested to apply for correction of Master Data in this respect. Since this process is taking time, the Ministry will be accepting the Authorised Capital and Paid-up Capital figures as declared by the companies in the respective forms pertaining to Annual Filings. Accordingly, the companies are requested to declare the correct amount on these points without waiting for formal correction in the database

PROCESS:

  • Maintaining Book of Accounts
  • Preparing Financial Statements of the Company
  • Appointing Auditor for the Company
  • Auditing the Financial Statement of the Company
  • Conducting Annual General Meeting
  • The annual return of the company must be filed within 60 days of the date on which the annual general meeting of the company was held.

Reasons For Company Annual Return Filing

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Individual Legal Entity

An Organisation is a legal existence and a righteousness person which was found under the particular Act. so, a company has the broad legal capacity and which can own its property and also sustain debts. However, the Partners of a company have no liability to the creditors of a company for the debts of the company.

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Successive Existence

A company has 'constant', which can be continued or uninterrupted existence until it is legally dissolved. A company is being a separate legal person, it is unaffected by the death or other departure of any Partner. Hence, a company continues to be in existence irrespective of the changes in membership

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Having Own Premisis

A company is an artificial judicial person, which can acquire its own, enjoy and sell, property in its name. No Partner can eventually make claim upon the property of the company - so long as the company is a going concern.

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Effortless Exchangeble

The shares of a company can be easily transmitted to one person to another person by admitting them as a Partner of the company.company is a separate legal existence which can be separated from its Partners.

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Lending Scope

A company enjoys better avenues for the borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.

How we help with Organisation Filing

Annual Retort Arrangement

Capital Flow Professional Expert will help you in fiing annual retorts for your company based on the performance and financers during the previous year.

Validation

Once our expert completes the Annual return preparations the clients would verify the return and affects the digital signature.

Conclusion

Once the annual return is verifies by the client our professional expert will file returns with the Ministry Of Corporation department along with the necessary attachments