File Private Limited Company Filing

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Once you registered a Private Limited Company, One Person Company, LLP Registration or other kind of company registration with Ministry of Corporate Affairs, you have to maintain companies status by filing information related to business every year. Such kind of maintenance records with the Ministry of Corporate Affairs is called as ROC filing for private limited companies or compliance for private limited company.

In short, doing the Annual filing of the company with the Ministry of Corporate Affairs is mandatory for all registered entity. Let us look at what ROC Compliance/Annual ROC Compliance means and how to act in accordance with the law. Here you need to know about the ROC due dates also, in order to fulfil the requirements of Annual ROC Compliance.

What is ROC ?

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ROC registration means the filing of details with Registrar of Companies of concerned jurisduiction. It is an administrative office, which maintain all records related to company registered under his jurisdiction. It is the governing authority authorised by MCA who are updating all records such as annual compliance for Pvt ltd company or compliance for private limited company, etc. The objective of ROC is to administer the companies or LLP which are registered under his jurisdiction and update their data frequently relating to annual return and other accounting books. The ROC works as a −

• Registry of records
• Identifying the companies enlisted with ROC
• Making them accessible for assessment by individuals

ROC compliance checklist for private limited companies

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Here are some ROC compliance checklist for private limited companies, which are mandatory in nature. Few ROC Compliances for private limited company are as

Board Meeting

Every Company must conduct its first Board Meeting within 30 days from the date of online company registration. However a Private Limited Company shall conduct atleast 4 Board Meetings in a year. And gap between two meetings shall not be less than 120 days. However in case of One Person atleast 2 Board Meetings shall conduct in a year. These compliances for private limited company shall be comply every company and it is mandatory private limited company ROC compliance.

Auditor Appointment

A Private Limited Company or One Person Company shall appoint his auditor within 30 days from the date of registration as to maintain their compliances for private limited company. For the purpose company must take consent from an auditor and file e-form ADT-1 with MCA along with requisite fees. It is mandatory Annual ROC Compliance for Private Limited Company.

INC-20A (Certificate of Business Commencement)

A private limited, OPC, Section 8 and other companies need to open current account and submit a bank statement containing the details of subscription amount of shares held by them at the time of incorporation. This is also comes under ROC Compliances for private limited company perview. You should not avoid ROC filing for private limited companies.

Preparation of Balance sheet and other Financial Statement

After end of financial year every company needs to close their books of account and maintain financial statement of company such as Balance Sheet, Profit & Loss Account, Auditor Report, Director Reports, Notes to Accounts, etc for the purpose of updating of compliance for private limited company.

Filing of Income Tax Return

A private Limited Company or One Person company need to file its Income Tax Return with Income Tax Department every year. It is also considered under annual compliance for Pvt ltd Company.

Annual General Meeting

Every company need to conduct its Annual General Meeting upto 30th September each year. However in case of first AGM it can be conduct upto 31st December. Thereafter upto 30th September. This is very important compliance for private limited company.

Filing of e-form MGT- 7 or MGT-7A

The Compliances for private limited company such as filing of MGT- 7 is most important. After Annual General Meeting Company, it needs to file its Annual Return in form MGT-7 with MCA within 60 days from the date of AGM.

Filing of e-form AOC-4

Form AOC-4 need to file by all companies within 30 days from the date of AGM. Under this form company need to attach its Balance sheet, P&L Account, notes to account, Auditor Report, etc. A company shall not fail in filing of this Compliances for ROC, otherwise a penalty of Rs. 100 per day will attract.
These are some mandatory compliance for private Limited which needs to be done by every Private Limited and OPC irrespective of its turnover and business. If you do not had any business during the year, you will not get any relaxation by MCA in filing of abovementioned roc registration.

Benefits of ROC compliances of Private Limited/Annual ROC Compliance

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Here are some benefits of ROC filing for private limited companies

• In case if your company is non complaint, person who are willing to invest in your company may change his decision by considering that ROC Return of company is not upto date.
• It saves you from attraction of various penalties specified under the Companies Act, 2013 for non filing of ROC Return.
• It creates greater impact on customers mind that you are fulfilling all requisite criteria prescribed by government.
• If you make your company complaint, it helps in building trust upon governmental authorities.
• Compliances for private limited company helps your organisation in better operation because it reduce pressure of any unwarranted penalties or late fees.

What includes inside the package of Annual ROC Compliance

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For the purpose of making your company complaint we are providing tremendous offer to every company. We are providing a dedicated Professional to you so that you can ask your doubt and can manage your business whole year. Here you will get also ROC compliance checklist for private limited companies and you can get an idea about the ROC due dates also. Along with private limited company ROC compliance related support, we also helps in following services in this package as -

• Appointment of First Auditor − within 30 days from registration of company
• Holding of Board Meetings and preparation of minutes
• Filing of INC-20A within 180 days from registration of company.
• Holding the Board Meeting
• Drafting the notice of BM,
• Preparing minutes thereof
• Preparation of attendance sheets of the board meetings
• Preparation of Balance Sheet, P & L Accounts, Audit Report, Director's Report, Extract of Annual Returns & Financial Statements.
• Preparation & Filing of Form AOC -04 (Financials Related Annual Return).
• Preparation & Filing of Form MGT -07 (Management Related Annual Return).
• All Monthly/Quarterly/Annual Mandatory Compliance.
• All Mandatory Statutory Compliance by Chartered Accountants (Certificate of Practice Holder).
• All Mandatory Secretarial Compliance by Company Secretary (Certificate of Practice Holder).
• End to End Business Advisory/Business Support Services by Highly Experienced/Qualified Chartered Accountants & Company Secretary.
• Preparation of Minutes of Board Meeting.
• Preparation of Minutes of AGM.
• Income Tax Returns (Company).
• Share Certificate (For All Share Holders).
• Preparation of MPB-01 (Disclosure of Interest by Directors).
• Preparation of DIR - 08 (Disclosure of Non-Disqualification by Directors).

Above mentioned are ROC compliance checklist for private limited companies and ROC due dates, which every company must need to follow. For getting better understanding related to Company Return Filing, contact our CA Services Online panel and get better company return filing for your company.

Process of ROC FilingProcess of ROC Filing/Private Limited Company ROC Compliance

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Here is the process of Private Limited Company ROC Compliance, which need to follow before going for Private Limited Company ROC Compliance -

Step 1:

For better understanding over Compliances for company, you need to understand the process of ROC filing compliances. Which is given here as-

Step 2:

After Appointment of auditor in company open Current account of Company and deposit contribution money and submit it with MCA within 180 from registration.

Step 3:

For example you register a company with 1 Lack rupees capital in which A and B is director both have 50-50 % shareholding. A and B need to deposit the amount in bank within 180 days and provide its proof to professional so that it can submit with MCA. Here you will get your Business Commencement Certificate (INC-20A).

Step 4:

After closing of financial year, CA will close your Books of Account and prepare all financial statements and will submit it with Income Tax Department.

Step 5:

Before 30th September dedicated professional who are managing your company

Step 7:

Dedicated manager will also prepare all other required documents and application with MCA and other concerned department. If any.

Step 8:

Congratulations..! Here all requisite compliance has been done and you have successfully entered in your next financial year.

Penalties Prescribed for Non Compliance

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In case if you failed in filing of ROC Return Government will levy penalties or late fees on your company. We are giving here some details of penalties applied by Ministry of Corporate Affairs as per Companies Act, 2013 related to penalties imposed for not doing Annual ROC Compliance. As per current norms, if you failed in filing of forms with MCA, it has prescribed separate late fees and penalties structure for every compliance. However in such case the late fees apply uptoRs. 500000 or may be higher or strike off company or otherwise as the case may be. Figure mentioned here is not exclusive it is only for getting idea. As per Companies Act, 2013 separate penalties are mentioned there for each non-compliance.