Private Limited Company is the widely accepted type of business structure. This type of business entity required many compliances or standards to maintain once a business is started. Private Limited companies should conduct an Annual General Meeting after the end of each financial year and must file an annual return with the Ministry of Corporate Affair to retain compliance. In India, the financial year generally starts on 1st April and end on 31st March. Therefore, a Company’s annual return would be on 30th September.
Given below are some of the common compliances which a company has to essentially ensure:
Compliance requirement with their detailed description and timeline
- Appointment of Auditor:-
Auditor will be hired for 5 years and ADT-1 form will be filed for 5-year appointment. The first Auditor will be selected within one month from the date of incorporation of company.
- Statutory Audit of Accounts:-
Every entrepreneur shall prepare its Company’s Accounts and get the same audited by a Chartered Accountant (CA) at the end of Financial Year compulsorily. The Auditor shall give 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 must file its Annual Return within 60 days of holding of the Annual General Meeting. Annual Return will be for the period of 1st April to 31st March.
- Filing of Financial Statements (Form AOC-4):-
Every Private Limited Company is necessary to file its Balance Sheet along with Profit and Loss Account statement and Director Report in this form within 30 days of holding of the Annual General Meeting.
- Holding Annual General Meeting:-
Every Private Limited Company is mandatorily required to hold an AGM in every Calendar Year. Companies are required to hold it within a period of six months from the date of closing of the Financial Year.
- Preparation of Directors’ Report:-
Report of directors will be prepared with the declaration of all the information required under the Section 134.
Running a business along with maintaining taxes and other kinds of legal work can be challenging and tiresome job for the entrepreneur. Hence, it is beneficial to hire skilled professional who could manage such tasks. Our legal and chartered accountant team will assist you with these compliances. Hence, relax and leave the rest to us.
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How it is done?
Documents to be provided:-
- Relevant data for the purpose of Income Tax Assessment e.g. all accounts books, Bank Statement of the Financial Year, etc.
Step1:- Receive expert counseling on Tax Assessment and filling by our Panel of CAs
Step2:- Pay 50% of the payment
Step3:- Provide all relevant data for the purpose of Income Tax Assessment (We’ll guide you!)
Step4:- The application process will start within 24 hours of Document submission
Step5:- Make the Balance Payment at the time of Tax filling
Step6:- Receive your Original ITR (Income Tax Return) and ancillary documents
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|Packages Starting from||INR 7,499/-[ All inclusive ]|
Get your Private Limited Tax filing done by our Tax-Legal team efficiently and hassle free. LexOracle offers you comprehensive, economic, All-inclusive packages starting from JUST INR 7,499/-.
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