Compliances of Private Limited Company

Compliances of Private Limited Company

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The private limited company is amongst the most popular form of starting a business. Once your private limited company is registered, then you are required to follow many Compliances of Private Limited Company.

There is a list of some common Compliances of Private Limited Company that are mandatorily followed:

Compliance Requirement Description and Timeline
Appointment of Auditor Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for the 5-year appointment. From the date of incorporation of the company, the first Auditor will be appointed within one month.
Statutory Audit of Accounts At the end of every financial year, every company is required to prepare its accounts and get the same audited by a Chartered Account. For the purpose of filing it with the registrar, the Auditor must provide an Audit Report and the Audited Financial Statements.
Filing of Annual Return (Form MGT-7) Within 60 days of holding of Annual General Meeting, every private limited company is required to file its annual Return. Annual Return will be for the period 1st April to 31st March.
Filing of Financial Statements(Form AOC-4) Within 30 days of holding Annual General Meeting, every Private Limited Company is required to file its Balance Sheet along with a statement of Profit and Loss Account and Director Report.
Holding Annual General Meeting It is mandatory for every Private Limited Company to hold an AGM in every Calendar Year. Companies are required to hold their AGM within a period of six months, from the date of closing of the Financial Year.
Preparation of Directors’Report Directors’ Report will be prepared with a mention of all the information required under Section 134.

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