COMPLIANCE FOR PRIVATE LIMITED COMPANIES
Running a Private Limited Company in India means following a few legal rules every year under the Companies Act, 2013. These compliances keep your business legally active and safe from penalties.
WHAT IS COMPANY COMPLIANCE?
Company compliance means filing all required documents and forms with the Registrar of Companies (ROC) and other government bodies (like GST, PF, Income Tax, etc.) on time.
It covers things like:
- Holding Board & Shareholder Meetings
- Appointing Auditors
- Filing Annual Returns
- Maintaining Proper Books of Accounts
TYPES OF COMPLIANCE
- ROC (Registrar) Compliance – These are mandatory filings as per the Companies Act.
- Annual Filings: Done once every year.
- Event-Based Filings: Done whenever changes happen (like director change, share transfer, etc.).
- Non-ROC Compliance – Other regular filings like GST returns, TDS, PF, ESI, Income Tax, etc.
OTHER REGULAR COMPLIANCE (NON-ROC)
- GST Returns (monthly/quarterly/annual)
- TDS & Income Tax Filing
- PF & ESI Returns
- Professional Tax & Labour Law Compliance
PENALTIES FOR NON-COMPLIANCE
Failure to meet ROC or other compliance timelines can lead to:
- Heavy penalties (Rs. 50,000+ or more depending on delay)
- Disqualification of directors
- Company name strike-off by MCA
WHY STAY COMPLIANT
- Builds company credibility
- Helps in getting loans/investments
- Avoids government penalties
- Keeps business legally active
HOW PROFESSIONALS HELP
Experts or compliance managers handle:
- Timely ROC & tax filings
- Preparing board minutes & reports
- Accounting & documentation
- Annual return & ITR filing
PUBLIC LIMITED COMPANY COMPLIANCE
A Public Limited Company can raise money from the public by issuing shares. Because it handles public funds, it must follow strict compliance rules under the Companies Act, 2013 and other laws.
KEY ANNUAL COMPLIANCES
- Board Meetings: At least 4 per year (max 120 days apart)
- AGM (Annual General Meeting): Within 6 months of financial year-end
- Auditor Appointment (Form ADT-1): Within 15 days of AGM
- Financial Statement Filing (Form AOC-4): Within 30 days of AGM
- Annual Return (Form MGT-7): Within 60 days of AGM
- Director KYC (Form DIR-3 KYC): By 30th September every year
- Deposit Return (Form DPT-3): By 30th June every year
OTHER REGULATORY FILINGS
Public companies also need to:
- File GST, TDS, PF, and ESI returns regularly
- File Income Tax Return (ITR-6) annually
- Maintain proper books and statutory registers
WHY IT MATTERS
Staying compliant builds investor trust, keeps your business legally secure, and enhances brand credibility.