Compliances

Annual Compliance2019-05-08T05:33:43+00:00
Compliance Requirement Description and Timeline
Meeting of the Board of Directors The Board of Directors is one of the most powerful bodies in a company. Section 173 of the Companies Act discusses about the meeting of board of directors. In any organization, the first board meeting has to be conducted within 30 days of its incorporation. At least 4 board meetings should be conducted each year. The gap between 2 consecutive meetings should not exceed 120 days.
Issue of Share Certificates As per Section 53 of the Companies Act, 2013 the share certificates issued should be delivered within 2 months from the date of allotment. If the shareholders surrender their allotted letters, the company should send share certificate to those members by registered post.
Minutes of the Company Section 118 of the Companies Act and Rule 25 of Companies (Management and Administration) Rules 2014 governs with the aspect of the minutes of the proceedings. The minutes should contain a fair summary of the proceedings. After a board meeting/general meeting is concluded, every company  should prepare, sign and keep minutes within 30 days. Minutes of the board meeting is signed by the chairman of the meeting or chairman of the next succeeding meeting. Minutes of the general meeting are signed by the chairman of the meeting within 30 days or if the chairman is incapable to sign within the said period it is signed by a director duly authorised by the board
Filing of disclosure of interest by Directors Section 184 of the Companies Act, 2013 deals with the disclosure of interest by a director. It provides that every director at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or there is any change in the disclosures already made, then at the first Board meeting held after such change, disclose his concern of interest in any company or association of individuals which shall include the shareholding. If a director makes a contract with the company and does not disclose his interest, it is considered as a breach of trust among the directors. Rule 9 of (Meetings of the board and its power) Rules 2014 provides that such disclosure shall be made in form MBP-1 and filed with the ROC in form MGT-14. If the Director fails to disclose his interest he shall be liable with an imprisonment which may extend to 1 year, or with a minimum fine of Rs. 50,000/- which may extend to Rs. 1,00,000/- or with both.
Active e-Form ACTIVE (Active Company Tagging Identities and Verification) will be filled by Every Company which is incorporated on or before 31 December 2017
MSME Compliance Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 Date of Notification: Pursuant to Order dated January 22, 2019, issued under Section 405 of the Companies Act, 2013 Effective Date: From the Date of Publication in the Official Gazette
Return of Deposits Form DPT-3 filing must be made by all companies other than a Govcompany comapny. Hence, all private limited company, OPC, limited company or Section 8 Company would be required to file Form DPT-3. The Companies (Acceptance of Deposits) Amendment Rules, 2019 has mentioned that all companies would be required to file Form DPT-3 one-time on or before the 22nd of April 2019. In the return, the company must provide details of outstanding receipt of money or loan by a company but not considered as deposits from 1st April 2014 upto 22nd January 2019
Appointment of Auditor Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for 5-year appointment. The first Auditor will be appointed within one month from the date of incorporation of the Company.
Statutory Audit of Accounts Every Company shall prepare its Accounts and get the same audited by a Chartered Accountant at the end of the Financial Year compulsorily. The Auditor shall provide an Audit Report and the Audited Financial Statements for the purpose of filing it with the Registrar.
Filing of Annual Return (Form MGT-7) Every Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March.
Filing of Financial Statements (Form AOC-4) Every Private Limited Company is required to file its Balance Sheet along with statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.
Holding Annual General Meeting It is mandatory for every Private Limited Company 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.

Maintenance of Statutory Registers and Records

Other Event Based Filings

Non-Compliance

Limited liability partnership compliances

Forms to be filed Last date for filing
Annual Return (Form 11) 30-05-2019
Accounts (Form 8) 30-10-2019
INCOME TAX RETURN Last date for filing
In case Audit is not required 31-07-2019
In Case Audit is required 30-09-2019