Annual compliances for PVT CO.
Annual compliances for a Private Limited Company (Pvt Ltd) in India are mandatory procedures to maintain its legal status and ensure transparency. These compliances involve filing various forms and documents with the Ministry of Corporate Affairs (MCA) and other regulatory bodies. Here’s a breakdown of the key annual compliances for a Pvt Ltd company:
1. Filing of Annual Returns (Form AOC-4 and Form MGT-7):
Due Date: Within 60 days of the closure of the financial year (usually by May 30th for companies following a standard financial year ending on March 31st).
Purpose: These forms provide a comprehensive overview of the company’s activities and financial performance for the entire financial year.
- Form AOC-4 (Financial Statements): Includes the company’s audited financial statements (balance sheet, profit & loss account, and cash flow statement).
- Form MGT-7 (Annual Return): Provides details about shareholders, directors, company meetings, share capital, and other prescribed information.
2. Income Tax Return (ITR):
- Due Date: The specific due date depends on the company’s tax filing category. It typically falls between September 30th and November 30th of the assessment year.
- Purpose: This filing reports the company’s taxable income and determines its tax liability for the previous financial year.
3. Statement of Account and Solvency (Form 8 for LLPs):
4. Other Potential Filings:
These may arise depending on the company’s specific activities and include:
- Tax Audits: Companies exceeding certain thresholds for turnover or income might require a tax audit report.
- GST Filings: Companies registered under the Goods and Services Tax (GST) regime need to file regular GST returns.
- MCA Website Updates: Any changes in the company’s structure (directors, shareholding, registered office) may require intimation filings through the MCA portal.