Running a Private Limited Company in India requires more than just incorporation. Every company has to follow certain statutory and regulatory requirements laid down by the Ministry of Corporate Affairs (MCA) and other authorities. These compliances ensure transparency, protect stakeholders, and keep the company in good legal standing. In this blog, we explain the key compliances for a Private Limited Company in India, their timelines, and the consequences of non-compliance.
1. Board Meetings
First board meeting must be held within 30 days of incorporation.
Minimum of 4 board meetings every year with not more than 120 days gap.
Minutes of meetings must be properly maintained.
2. Annual General Meeting (AGM)
Mandatory for Public Companies, but not for most Private Companies unless specifically required in Articles of Association.
If applicable, AGM must be held within 6 months from the end of financial year.
3. Appointment of Auditor (Form ADT-1)
The first statutory auditor must be appointed within 30 days of incorporation.
Subsequent appointment is done for 5 years and must be filed with MCA in Form ADT-1.
4. Annual ROC Filings
Private Limited Companies must file the following with MCA every year:
Form AOC-4 – Filing of financial statements within 30 days of AGM.
Form MGT-7 / MGT-7A – Filing of annual return within 60 days of AGM.
Form DIR-3 KYC – Director KYC filing every year.
5. Statutory Audit of Accounts
Every company must get its accounts audited by a Chartered Accountant.
Audit Report must be filed with the ROC along with financial statements.
6. Income Tax Return Filing
All Private Limited Companies are required to file ITR regardless of profit or loss.
Due date: 30th September of every year (subject to government extensions).
7. Maintenance of Statutory Registers
Companies must maintain updated statutory registers, such as:
Register of members
Register of directors and key managerial personnel
Register of charges and loans
8. Event-Based Compliances
Apart from annual compliances, companies must also file event-based forms with MCA when certain changes occur:
Change in directors (Form DIR-12)
Change in registered office (Form INC-22)
Increase in authorized share capital (Form SH-7)
Allotment of shares (Form PAS-3)
Heavy penalties for directors and the company.
MCA may strike off the company’s name.
Disqualification of directors for persistent default.
Difficulty in raising funds or expanding business.
Every Private Limited Company in India must comply with ROC filings, board meetings, income tax returns, and statutory audits. Staying compliant not only avoids penalties but also builds credibility and trust with investors and stakeholders. For seamless compliance management, companies can take professional assistance to track deadlines and file forms correctly.
They include filing financial statements (AOC-4), annual return (MGT-7/7A), director KYC (DIR-3 KYC), holding board meetings, and conducting statutory audit.
Yes. Even if there is no business activity, every Private Limited Company must appoint an auditor and file audited financial statements.
Non-filing attracts penalties per day of delay, potential strike-off by MCA, and disqualification of directors.
Yes, but dormant and small companies may have simplified forms such as MGT-7A for annual return.
Not always. Most Private Companies are exempt unless specified in their Articles of Association.
Yes. Income Tax Return filing is mandatory even if there is no revenue or profit.
MCA levies a penalty of ₹100 per day of default until the filing is completed.
Form ADT-1 must be filed within 30 days of the auditor’s appointment.
Yes. Changes such as appointment of directors, change of registered office, or increase in share capital must be reported to MCA.
The Board of Directors is primarily responsible, though compliance professionals or company secretaries are often appointed for assistance.
State-Level Tax Credits and Deductions Explained To Start with, Many taxpayers focus only on federal benefits and miss out…
Differences Between State and Federal Tax Forms for US Taxpayers To Begin With, Many US taxpayers assume that filing taxes…
Understanding Sales Tax Nexus for US Businesses Introduction Sales tax rules in the United States are not as simple as…
How to Trademark a Brand Name in the USA ? Introduction Many founders believe that registering a company in the…
Key Federal Tax Credits and Deductions for US Taxpayers Begin With, Many US taxpayers pay more tax than required simply…
USPTO Trademark Cost registration Guide by Ebizfiling Introduction Understanding the USPTO trademark cost is important before applying for trademark…
View Comments
Hello Akshay Sugandhi,
Thankyou for your Inquiry!!
The team will get in touch with you soon. Meanwhile, you can get in touch with Ebizfiling at +919643203209 / info@ebizfiling.com