ANNUAL COMPLIANCES FOR PVT
If the compliance isn’t fulfilled at the right time, you may have to pay the heavy penalty. Hence, it is very much important to keep your compliances up to date.
The forms are filled as per the compliance requirement like event-based compliance or statuary compliance.
Annual compliances which are done for the private limited company –
- Preparing and filing annual returns
- Filing and submitting financial statements
- Filing and drafting minutes of all meetings happened till now
- Maintain share certificates
- Drafting and maintain statutory records
- Appointment of auditors
- Filing director’s interests
Every year your private limited company needs to file its annual return without failing in any case. This fulfillment of annual return is mandatory for any private limited company. Special directors are made for this purpose that is responsible for doing this every year on time in any case. Delay in this process of annual compliance filling can cause many penalties to be paid by the company and would also lead to a great source of inconvenience.
Annual compliances filing includes the following documents to be submitted by the company every year –
- Preparation of accounts of the company
- The final statement of the current account
- Balance sheet and profit and loss information of the company
- Statutory audit file
- Auditors and directors report
- share statement
- filled form from the registrar of companies
- Income tax return file
- Other related compliances
These annual compliances are very much in use of the company as it is mainly required at time of taking a loan against your company or for your company.
A private limited company in order to fill its annual compliance must fulfill statutory compliance. It means the company should hold a board meeting in every 3 months and in addition to that, a general meeting should be held at least once a year.
We admit that running a private limited company is not an easy task you need to take care of many things apart from the productivity and profit of the company. Annual compliances are not something to be missed. Annual compliances are annual return file with an audited financial statement that is too submitted by a company every year without any failure.
In case of non-compliance – we already mentioned that in case of non-compliance you will have to pay a hefty price in the form of penalty or fine. But the problem isn’t limited to this. Acc. to the companies act, 1956 imprisonment of the owner of the company or the individual in charge of annual compliances might take place. Also in addition to this, nowadays entrepreneurs prefer to contract or deal with only those companies that have adequate compliances and have filled their annual return on time. It is really beneficial for your professional career.
Qiklegal is meant to make the compliances much easier for you and your private limited company. Just trust us and our process. We would get your compliance done in some easy steps with fast service options.