Annual Compliance of Private Limited

What are the Advantages of Annual Compliance for Private Limited Company?

There are various benefits of a private limited company such as limited liability of its members, ease in raising of funds from venture capitalist, perpetual succession and the faith of the community does not fade even if the cost of annual compliance fluctuates.

It is compulsory for company owners to comply with Companies Act, Income tax, GST & State Laws. Additionally, companies have to submit income tax returns by the end of September every year. Since 2018, the requirement of compliance has been increased for private limited companies.

For this, we make sure that the corporate compliances are met on time as and when they are due. At India Financial Consultancy Corporation Pvt Ltd, we provide complete consultation services to our clients and help them focusing on businesses with the help of our expertise teams.

Advantages of our Services:

Committed CA/CS

After confirmation of the order, a committed CA/CS will be assigned on your order. He will be the point of contact to manage your business compliance and you may ask any questions regarding the Company's Compliance, Taxation and Regulatory issues.

Support in Accounting

Our Auditing team will audit the financial accounts of the company at the end of the financial year on the basis of which the team will finalize Position Statement (Balance Sheet) & Income Statement (Profit & Loss) of your company.

Annual Audit Support

In-house Committed Professional will provide necessary guidance for the statutory audit of the company.

Filing of Income tax return

Our Tax Advisory team will file income tax returns and will guide you occasionally about the Tax planning, Advance tax payments etc.

Company Secretary Services

Our trusted Company Secretary will reach you and prepare/review Minutes of the meeting of your company as per Companies Act 2013. Minimum four board meetings are required to be held in one financial year except small companies where only two board meetings are required to be held in a financial year.

Filing of Financial Statements & Annual Return

Once the shareholders of your company approve your financial statements in the Annual General Meeting (AGM), our team of experts will file your financial statements & annual return with Ministry of Corporate Affairs in Form AOC-4 & MGT-7 respectively.

What is the Compliance calendar for Private Limited Company for FY 2019-20?

In 2019, Ministry of Corporate Affairs (MOC) has introduced various new compliance requirements for Private Limited Companies.

Summary of new compliance applicable for FY 2019-20:


The Company is required to maintain its Balance Sheet & Profit & Loss Account on the basis of its transactions of the previous year.

Audit of Accounts

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization in order to ascertain whether the financials represent true & fair value. For the purpose audit of books of accounts, an auditor has to be appointed by the company within thirty days from the date of incorporation of the company.

Compliances related to Income Tax

Every corporate has to file its Annual income tax returns by the end of September of the following financial year and they are required to comply with withholding tax compliance. Also, a Company, while making payments, has to deduct tax at source (TDS) which is applicable on specific payments such as Commission and brokerage, Dividend, Rent, Salary, Interest, and Fees for professional and technical services etc. 

In Tax Deducted at Source (TDS), Tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee. A quarterly return has to be filed by the payer to the Income tax department containing details of payee, date of deduction and date of remittance to department etc.

What are the due dates for filing TDS returns?

Quarter Filing Due Date
First Quarter July 31
Second Quarter October 31
Third Quarter January 31
Fourth Quarter May 31

Goods and Services Compliance

After obtaining Online Registration of GST as a Normal Taxpayer, the company will be required to file the GST returns (In Total 37) on time. The annual turnover of a taxable person is the base of requirement of GST Returns. If the annual turnover is less than INR 1.5 Crores, then only the person needs to submit quarterly returns on the respective due dates of GST return. He needs to submit the details of purchase and sale of the company. Failure of which will attract penalty.

Registrar of Company Compliance

  • Appointment of Auditor within thirty days from the date of incorporation
  • Finalization of Balance Sheet
  • Statement of Profit & Loss Account including Consolidated Financial Statement
  • Cash Flow Statement 
  • Report of Company's Directors
  • MGT-9 (Extracts of Annual Return)
  • Report of Auditors
  • Notice of Annual General Meeting
  • Maintenance of Statutory Registers
  • Professional tax Registration and Filing
  • Filing of Financial Statements in Form AOC-4
  • DPT -3 Filing
  • MSME 1 & 2 Filing

Do You Have Any Questions?

A committed and dedicated team shall work on your assignment and will keep you updated with the filing progress.

Yes, you can cancel the agreement but after the end of financial year.

Yes. In-house Tax experts will guide you on Income tax planning.

You can email us at our Senior Partner will contact you in maximum 4 hours.