COMPANY ANNUAL COMPLIANCE

Post registration every Private/Public Limited Company is required to comply with a few mandatory legal requirements on yearly basis. Such as:

• Care of proper books of accounts pertaining to its financial transactions on yearly basis
• Filing of Income Tax Return yearly i.e. by 30th September every year.
• Filing of Form AOC-4, Form for filing financial statement and other files with the registrar of companies, in expiry of 30 days from the date of this Annual General Meeting.
  Filing of Form MGT-7, Form for submitting annual return by the Business, over the expiry of 60 days from the date of the Annual General Meeting.
• Compliance to other secretarial work under the Companies Act. 2013 i.e. Filing of Form MGT-14, ADT-1, Drafting Minutes into the AGM, Board Meetings, etc..
• Private Company may be required to record additional statutory returns i.e. GST Yield, Sales Tax Return, Excise Return, PF & ESI Returns and many others depending on the quantity and nature of business.

We at dhanlaxmiassociates can help you take care of the legal compliance needs for the Private/Public Limited Company in most cost efficient method.

A. *PROCESS OF ANNUAL FILING (ROC FILINGS) FOR NEW COMPANIES (FORMED ON OR AFTER 1ST JANUARY OF THE RELEVANT YEAR)*

Businesses That’s Been formed Following 31st December of the year (i.e. Company is formed on or after 1st January till 31st March)

Section 92 that resisted the Annual Filing stipulates that in case a firm is formed following 1st January they can hold with 18 Months form the date of Incorporation

*BEST COMPLIANCE PRACTISES FOR ANNUAL FILING (ROC FILING)*

• Prepare the financial statement for 18 Months
  1. Profit & Loss Account
  2. Balance Sheet
  3. Cash Flow Statement ( If applicable)
• Conduct a Board meeting for finalization of accounts
• Get the Accounts audited by you Statutory Auditors ( CA’s)
• Get the Audit report
• Conduct a Board meeting for Adoption of financial statements (Accounts)
• Circulate Notice to AGM to all shareholders at least 21 prior to the date of annual general meeting Circulate
• Notice to AGM to all shareholders at least 21 prior to the date of annual general meeting with the following contents
• Directors Report
  1. Profit & Loss Account
  2. Balance Sheet
  3. Cash Flow Statement ( If applicable)
• Conduct Annual General Meeting

*FORMS TO BE FILED FOR ANNUAL FILING (ROC FILINGS)*

• ADT-1 FOR APPOINTNMENT OF AUDITORS
• MGT-7 ANNUAL RETURNS
• AOC-4 STATEMENTS OF ACCOUNTS

B. *PROCESS OF ANNUAL FILING (ROC FILINGS) FOR NEW COMPANIES (FORMED ON OR AFTER 1ST JANUARY OF THE RELEVANT YEAR)*

Businesses That’s Been formed after 31st December of the year (i.e. Business is formed on or after 1st January till 31st March)

Section 92 that resisted the Yearly Filing stipulates that if a *_company is formed following 1st January they could hold with 18 Months_* form the date of Incorporation