ROC Annual Compliance for Private Limited Company in Nagaland
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Expertise in ROC Annual Compliances
Compliance means followance of the rules and regulations. A Private Limited company needs to comply with the Companies Act, 2013 and follow it in order to carry out different functions for ex. the appointment of directors, board meetings, and shareholder meetings. ROC annual compliance for Private Limited Company is mandatory for every private company which is registered, i.e. whether it is a small or big company, it has to comply with the rules. The mandatory compliances that require preparation of the annual returns and paying income taxes are also needed for all companies.
Private Limited Companies in India are required to maintain various ROC annual compliances, which have evolved over time. These compliances for pvt limited companies are:
Compliance |
Description |
Due Date |
Penalty for Non-Compliance |
Commencement of Business |
Companies registered in India after November 2019, with share capital, have to get a certificate of Commencement of Business that too inside 180 days of incorporation. |
Within 180 days |
Penalty of Rs. 50,000 for the company, Rs. 1000 per day for directors for each day of default |
Auditor Appointment |
Appointment of a Statutory auditor within 30 days of incorporation is mandatory for all registered Indian Companies. |
Within 30 days |
Penalty of Rs. 300 per month |
Income Tax Return |
Filing of Income tax returns must be completed on or before 30th September. |
30th September |
- |
MCA Form AOC-4 |
Filing of MCA Form AOC-4 is required on or before 30th November. |
30th November |
Penalty of Rs. 200 per day of default or delay |
MCA Form MGT-7 |
Filing of MCA Form MGT-7 must be done on or before 31st December. |
31st December |
Penalty of Rs. 200 per day of default or delay |
DIN eKYC |
Directors must file DIN eKYC or DIR-3 eKYC. In DIR-3 eKYC, directors must provide a unique personal mobile number and a personal email address. |
- |
Penalty of Rs. 5000 for failure to file |
Hold Annual General Meeting |
Private limited companies have hold an Annual General Meeting within six months from closing the Financial year. |
Within 6 months |
- |
Director's Report |
Preparation of the Director's report containing all required information under Section 134. |
- |
- |
The annual ROC compliances after online company registration in India are:
1) Statutory Audit Compliances:
2) Annual ROC Filings:
Private Limited Companies must file:
3) Annual General Meeting (AGM):
4) Board Meetings:
5) Directors Report:
6) Income Tax Compliances:
7) Other Event-based Compliances:
8) Filing Requirements:
In case on non-compliance with annual ROC compliances:
Following are the benefits of complying with Annual ROC Compliance:
1) Budgeting:
2) Evaluating Business Performance:
3) Managing Cash Flow:
4) Financial Reporting to Stakeholders:
5) Mandatory Compliance:
Annual ROC compliance services for private limited company registration in India ensures legal requirements to protect health, safety, and welfare. It includes obtaining a business licence, paying taxes, and adhering to regulations.
1) Compliance Demands Grow With Your Business
2) Reduced Legal Issues
3) Improved Operations and Safety
4) Better Public Relations
5) Increased Retention
The procedure for ROC Annual compliance filing involves the following steps:
Step 1. Meetings of Board of Directors:
Step 2. Preparation of Minutes of Proceedings of Meeting:
Step 3. Issuance of Share Certificates:
Step 4. Filing of Disclosures of Directors’ Interests:
Step 5. Filing Declarations of Commencement of Business:
Step 6. Annual General Meetings:
Step 7. Annual Compliance Returns:
Step 8. Quarterly Compliance:
Step 9. Statutory Registrations:
ROC compliances come under the MCA or the Ministry of Corporate Affairs as its supervisory authority, and the ROC offices across India are assigned with the task of its enforcement. ROC compliance includes preparation of these fresh forms and documents, annual returns as well as other related protocols. Some of these include maintaining statutory registers, conducting board meetings and more.
ROC compliance helps to ensure clean and well-managed business that involves transparency, accountability and adherence to law. Not only may a company's failure to meet ROC requirements be punished by penalties, fines or even the de-registrations but also a lot of negative implications for the business itself.