Welcome to Ahuja & Ahuja Chartered Accountants, your trusted partner for all your Company Annual Return Filing Compliance in Delhi/NCR region.

As per the Companies Act, 2013, it is mandatory for every company, be it a private limited or a public limited, to comply with certain legal requirements annually. Failure to comply with these requirements can result in severe financial and non-financial penalties. We understand that keeping up with the ever-changing legal landscape can be a daunting task for companies, which is why we are here to provide valuable services to ensure that you meet all the mandatory compliances on time.

Our team of expert and experienced Chartered Accountants has over two decades of industry experience, making us well-equipped to help you navigate the complex regulatory environment. We offer a range of services related to annual compliances for private companies and public limited companies, including company law compliance checklist, appointment of auditors, and disclosure of interest by directors.

Private Limited Company Compliance Checklist

Private limited companies have fewer mandatory compliances as compared to public limited companies. However, it is still important to meet all the compliance requirements to avoid any penalties. Here is a brief checklist of the mandatory compliances for a Private Limited Company:

  1. First Board Meeting: As per compliance under the Companies Act, 2013, for private companies, it must hold its first board meeting within 30 days of its incorporation. Notice of Board Meeting shall be sent to every director at least 7 days before the board meeting.
  2. Subsequent Board Meetings: Every company is required to conduct 4 board meetings every year wherein the interval between the two meetings shall not be more than 120 days. However, there are some exceptions for a specified class of companies where the holding of only 2 board meetings will be sufficient compliance provided there is a minimum gap of 90 days between the meetings.
  3. Disclosure of Interest by Directors: Every director of a company is required to disclose his interest at:
  • The first board meeting in which he participates as a director; or
  • The first board meeting of the board of directors every year; or
  • Whenever there is any change in interest, it shall be disclosed in Form MBP?1 (along with the list of all relatives and concern of relatives in the company as per Related Party Transaction definition), his interest or concerns in any company, firm, body corporate, or with any other association (including holding of shares). Form MBP?1 shall be filed timely and kept in the records of the company.
  1. Appointment of First Auditor: The board of directors shall appoint the first auditor of the company within 30 days of the incorporation of the company which shall hold the office till the conclusion of the first annual general meeting. In the case of the first auditor, filing of ADT-1 is not mandatory.
  2. Subsequent Auditor: The board of directors shall appoint the auditor in the first annual general meeting who shall hold the office till the conclusion of sixth AGM and shall inform the same to ROC by filing ADT-1. It is the responsibility of the company itself to file Form ADT-1 and not of the auditor within 15 days from the date of appointment.

Holding of Annual General Meeting:

As per the Companies Act, every company is required to hold an Annual General Meeting on or before 30th September every year during business hours. This applies to both public limited and private limited companies. The AGM must be held on a day that is not a public holiday, either at the registered office or within the same city, town, or village where the registered office is situated.

Filing of Annual Return (Form MGT-7):

For private limited companies, the annual return must be filed in Form MGT-7 within sixty days of holding the AGM. The annual return covers the period beginning on 1st April and ending on 31st March for every year.

Filing of Financial Statements (Form AOC-4):

Private limited companies must also file their audited balance sheet along with the statement of profit and loss account and Board’s Report in Form AOC-4 within 30 days of holding the AGM.

Statutory Audit of Accounts:

It is mandatory for every company to prepare its books of accounts and get the same audited by a Chartered Accountant. The auditor shall provide an Audit Report along with the financial statements duly audited by him to file it with the Registrar.

At Ahuja & Ahuja Chartered Accountants, we understand that compliance can be a complex and time-consuming task for business owners. This is why we offer a full range of annual compliance services for private limited companies and public limited companies, including a company law compliance checklist. Our services cover all aspects of statutory compliance, including ROC filing, DPT-3 filing, and any other post-incorporation compliance requirements.

Contact us today at [insert contact details] to learn more about how we can help you stay compliant with all your Company Annual Compliances. Let us take care of your compliance needs, so you can focus on growing your business.

Frequently Asked Questions

On the MCA portal, two forms are available for filing the annual return of a company, MGT-7 and MGT-7A. Which form should I file?

All companies, except small and one-person companies, are required to file Form MGT-7. MCA has introduced form MGT-7A to ease the filing process for small and one-person companies.

What is the due date of AGM for a newly incorporated company?

A newly incorporated company can hold its first AGM within 9 months from the end of its first financial year. If a company is incorporated on or after the 1st day of January, then it has an option to close its first financial year on the 31st March of that year or the following year.

How can I apply for an extension of the due date for AGM?

A company can apply for AGM’s due date extension (other than its first AGM) by filing Form GNL-1 to the ROC. However, this extension cannot be granted for a period of more than 3 months.

How can I check my annual filing status of previously filed forms?

To check the annual filing status of a company, simply visit the MCA’s website and follow this path: Home > MCA Services > E-Filing > Check Annual E-filing Status.

Is a company required to do all the annual filing even if it has earned no revenue and has not conducted any business in a financial year?

Yes, a company needs to complete all the annual filings even if there were no transactions during the financial year.

Is non-filing of ADT-1 (for appointment of the first auditor) a non-compliance?

No, there is no mandatory requirement of filing Form ADT-1 for the appointment of the first auditor in a company. However, the company must appoint an auditor within 30 days of its incorporation.

What is the penalty for late filing of annual returns?

Late filing of annual returns can attract a penalty ranging from Rs. 100 to Rs. 1,000 per day depending on the number of days of delay. However, the penalty amount may vary depending on the type of company and the time period of delay.

Can I revise my annual returns after filing them?

Yes, a company can revise its annual returns after filing them by filing a revised return using the same form as the original return. However, the revised return should be filed within 15 days from the date of submission of the original return.

Is it necessary to file a balance sheet and profit and loss account with the annual return?

No, a balance sheet and profit and loss account need not be filed along with the annual return. However, these financial statements should be prepared and audited by a qualified auditor and should be kept ready for inspection by the concerned authorities.

Can I file the annual return of my company without appointing an auditor?

No, it is mandatory to appoint an auditor before filing the annual return of a company. The auditor should be appointed in the first AGM and the appointment should be filed using Form ADT-1.

What is the due date for filing the annual return for a foreign company operating in India?

A foreign company operating in India should file its annual return within 6 months from the end of its financial year, unlike an Indian company which has to file within 60 days from the AGM.