Annual Compliance Checklist for Private Limited Company
Running a private limited company in India comes with a range of annual compliance requirements under the Companies Act 2013, Income Tax Act, and GST laws. Non-compliance can attract penalties for the company and its directors, and in severe cases, lead to the company being struck off by the Registrar of Companies.
This checklist covers every annual obligation a private limited company must fulfil.
1. Board Meetings
A private limited company must hold a minimum of 4 board meetings every calendar year. The gap between two consecutive meetings must not exceed 120 days. A one-person company (OPC) needs only one board meeting per half-year.
- Prepare and circulate the agenda at least 7 days before the meeting
- Maintain minutes of every board meeting in the minutes book
- Minutes must be signed by the chairman within 30 days
2. Annual General Meeting (AGM)
Every private limited company must hold its AGM within 6 months from the end of the financial year, i.e., by 30 September each year. The first AGM must be held within 9 months from the close of the first financial year.
3. Financial Statements and Audit
The company must prepare financial statements including the Balance Sheet, Profit & Loss Account, Cash Flow Statement, and notes to accounts. A statutory auditor must audit these statements before they are presented at the AGM.
- Appoint a statutory auditor at the first AGM for a 5-year term
- File audited financial statements with the ROC using Form AOC-4 within 30 days of the AGM
4. ROC Annual Filings
| Form | Purpose | Due Date |
|---|---|---|
| AOC-4 | Financial statements | 30 days from AGM |
| MGT-7A | Annual return (small company) | 60 days from AGM |
| MGT-7 | Annual return (other companies) | 60 days from AGM |
| ADT-1 | Auditor appointment | 15 days from AGM |
| DIR-3 KYC | Director KYC | 30 September annually |
5. Income Tax Compliance
- File Income Tax Return using ITR-6 by 31 October (if audit is required)
- Get Tax Audit under Section 44AB if turnover exceeds the prescribed threshold
- Deposit advance tax in four quarterly instalments
- File TDS returns quarterly and issue TDS certificates
6. GST Compliance
- File monthly GSTR-1 and GSTR-3B returns
- File annual return GSTR-9 by 31 December
- Reconcile input tax credit with GSTR-2B
7. Other Annual Obligations
- Maintain statutory registers (members, directors, charges, etc.)
- File beneficial ownership declaration in Form BEN-2
- Renew DIN for directors through DIR-3 KYC
- Update registered office address if changed
- File resolutions with MCA within 30 days of passing
Penalties for Non-Compliance
Failure to meet annual compliance requirements attracts serious consequences:
- Late ROC filing: Additional fees of ₹100 per day, per form
- Non-filing for 2+ years: Company can be struck off under Section 248
- Director disqualification: Directors of defaulting companies are disqualified under Section 164(2)
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