Company Compliance Services

The compliance requirements for a private Limited company have changed drastically over the years.

Various statutory compliances for a private company under companies act 2013 are-

Commencement Of Business

For Companies registered in India after November 2019, with a share capital, obtaining the commencement of business certificate within 180 days of incorporation of the company is mandatory.

Failing this will result in a penalty of Rs.50000 for the company and Rs.1000 per day for directors for each day in case of default.

Auditor Appointment

ADT-1- A statutory auditor must be appointed by all Indian registered companies within 30 days of incorporation. In case the company does not appoint one, they will not be allowed to run their business and will also incur a penalty of Rs. 300 per month.

Board Meeting

A private limited company is required to hold a board meeting within the first 30 days of incorporation. The discussion points must include-

Bank account opening to deposit share capital amount received from shareholders.

Issue of share certificates – Form SH-1 signed by a director and Company secretary.

Other related matters.

Registration under different laws, if needed

A private limited company must obtain registration and licences under different laws if necessary. Examples

GST Registration

Import Export Code

MSME (Micro, Small and Medium Enterprises) Registration

FSSAI Registration

Trademark registration

Startup India Registration

ISO Certification

ROC Compliance for Private Limited Company

Coming to an especially important question that is most frequently asked- Is ROC filing mandatory for Pvt Ltd Company?

Yes, ROC compliance for private limited company is mandatory. Non-compliance with ROC filing requirements can result in penalties and legal consequences for the company and its directors.

Therefore, private limited companies must ensure timely and accurate filing of all required documents and forms with the Registrar of Companies to maintain good standing and comply with legal obligations.

Legal Compliance Checklist for Private Limited Company

In adherence to the Compliances for private limited company under companies Act 2013, there are several forms and returns to be filed on an annual basis. Th Income Tax Act 1961 is applicable, and all private limited companies must comply with the Act.

Here is the list of Compliances for Private limited company in India.