Annual Compliances for Private Limited Companies

Fulfill all the compliance requirements of your private limited company every year the most convenient way possible – online.

GET STARTED AT

 3,999 Onwards

Easy monthly EMI options available

* Charges would vary depending upon the capital structure and the net turnover of the company

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What are Annual Compliance?

The Companies Act 2013 states that every company shall hold an annual general meeting in each financial year and the gap between two AGMs shall not be more than 15 months and financial Statement shall lay in AGMs of that financial year.
A copy of financial statement including consolidated financial statement if any ,which has been adopted at AGMs shall be filed with ROC in e-form AOC-4 within 30 days of date of AGMs .

Further every Company will file its Annual Return i.e. e-form MGT-7 within 60 days of holding of Annual General Meeting or if AGM is not held for any reason then form must be filed along with reason for not holding it . Annual Return will be for the period 1st April to 31st March. Every Listed Companies or a company having paid up Share capital of minimum Rs.10 crore or turnover of minimum Rs. 50 crore shall be certified by Practicing Company Secretary, and the certificate shall be in form MGT-8. Moreover MGT-8 is required to be attached in MGT-7.

 

Annual Compliances for LLP

Fulfill all the compliance requirements of your private limited company every year the most convenient way possible – online.

GET STARTED AT

 3,999 Onwards

Easy monthly EMI options available

* Charges would vary depending upon the capital structure and the net turnover of the company

What are Annual Filings?

Limited liability partnerships (LLPs) have very few compliances to fulfil, in comparison to private limited companies. LLPs need only file information related to statement of accounts and annual returns on an annual basis. Penalties, however, are huge for failure to comply. Entities that don't end up doing so could be fined heavily, with penalties going up to Rs. 5 lakh in some cases.

  • Filing of Annual Return
  • Filing of Statement of the Accounts or Financial Statements
  • Filing of Income Tax Returns

Filing Annual Return

Annual Return or Form 11 is a summary of an LLP’s Partners. It is also an indication of whether there is any change in the management. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of a financial year. That is, the Annual Return has to be filed on or before 30th May every year.

Form 11 or Annual Return is Applicable to those LLPs which were registered till 30 May 2015. For LLPs registered after 1st October 2015, the return will be filed in the year 2017.

Filing Annual Accounts or Statement of Accounts or P&L and Balance Sheet

All LLPs are required to maintain their Books of Accounts in Double Entry System. They also need to prepare a Statement of Solvency (Accounts) every year ending on 31st March. For this purpose, LLP Form 8 should be filed with the Registrar of Companies on or before 30th October every year.

Form 8 or Annual Statements is applicable to the LLPs registered till 30th September 2015. For LLPs registered after 1st October 2015, the Annual Statements should be filed in 2017.

It should be noted that LLPs whose annual turnover exceeds Rs. 40 lakh or whose contribution exceeds Rs. 25 lakh are required to get their accounts audited by a qualified Chartered Accountant mandatorily.

*An Audit of accounts is mandatory under the Income Tax Act when the annual turnover of LLP is more than one hundred lakh rupees.

Forms to be filed Last date for filing
Annual Return (Form 11) 30-05-2016

 

Accounts (Form 8) 30-10-2016
INCOME TAX RETURN Last date for filing
In case Audit is not required 31-07-2016
In Case Audit is required 30-09-2016

 

 

Penalty For Defaulting Director:

Jail that may extend to 6 months or fine of 1 lakh that may extend to 5 lakh

Penalty for Company:

1,000/- for everyday till default continue upto a maximum of 10 lakh