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Many advantages in starting a Private Limited Company, it's equally critical to maintain compliance life cycle to avoid penalties and strike-offs. This document covers complete company life cycle pictorially and explaining each step for better understanding. Know more from the below diagram.
Hover on a step (circle) below to know brief or Click on a step to have a detailed page explaining the process.
Discuss with EZTax consultant and the proposed directors to open a private limited company regarding the benefits, disadvantages, objectives, compliance, cost, capital, taxes etc.
Know more on @ Tax Consultation with an Expert
Once the private limited is applied, it will take 3-7 working days to get the incorporation certificate, PAN and TAN
Know more on @ Private Limited Company Registration Service
Form ADT 1 needs to be filed within 15 days from the board meeting which is required to be held within 30 days.
More @ Guide on Auditor Appointment
Once the private limited is incorporated, open a bank account, and transfer the capital in the same proportion as decided in MOA.
Know more on @ What to look when opening a Bank Account?
INC 20A is form for declaration for commencement of business. It needs to be filed within 180 days from the incorporation of the company.
Know more on @ INC 20A | Commencement of Business Guide
DPT 3 is a return of deposits which needs to be filed by every company who is having outstanding loans or deposits. The due date for filing typically is 30th June every year.
More @ Guide on Form DPT 3 (disclosure of debt)
Know more on the latest dates @ Comprehensive Tax Calendar
Director KYC needs to be filed every year for the directors of the company. The due date for filing director KYC is 30th September every year.
Know more on @ Guide on Director KYC for Companies
Every year, the company needs to maintain books of accounts and prepare the financials i.e. P&L, Balance sheet , schedules and notes etc
Know more @ Comprehensive Income Tax Help Center
Annual General Meeting needs to be done within 180 days from the end of financial year. The due date is 30th September every year unless extended.
Know more @ Annual General Meeting Explained
Know more on the latest dates @ Comprehensive Tax Calendar
Every company must file the income tax return in ITR 6 every year. The due date for filing Income tax return is 31st October every year.
If the company's turnover is more than 10 crores or if it has met any other criteria of Tax Audit under Income tax Act, it is required to get a Tax Audit under Income tax act. The Company needs to file Tax Audit report in Form 3CA-3CD by 30th September every year
Know more @ Pvt Ltd Company Annual Compliance IT, ROC Audit Filing
AOC 4 is a form for filing financial statement and other documents with Registrar of companies. AOC 4 needs to file filed within 30 days from the date of AGM.
Know more @ Guide On Form AOC 4
MGT 7A is a form for filing annual return by OPC’s and small companies. MGT-7A needs to be filed within 60 days from the date of AGM.
Know more @ Guide On Form MGT 7A
Articles of Association (AOA) may need to be amended if any changes to the rights, responsibilities, duties of the directors of the company.
Memorandum of Association (MOA) may need to be amended if any changes to the name, state of registered office, objects for which it has been incorporated
Know more @ Company MOA and AOA Change - Explained
The directors of the company can be changed either by removal/resignation or addition of new directors to the company. DIR 12 / DIR 11 needs to be filed accordingly.
Know more on @ Guide On Director Change
The company can change its registered address of the company during its course of business. The company needs to file INC 22, MGT 14, INC 28 etc.
Know more on @ Company Registered Address Change
If the company has not commenced its business or not carrying out any activity, the company can apply for the closure of company with ROC.
Know more on Company Closure Process
If the private limited company wants to change its status i.e., to LLP, Public Limited, Section 8, it can file for conversion with ROC.
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If the private limited company / LLP is not conducting any business and the founder or company board like to put the status under dormant status, one can apply such under ROC framework.
Know more on Dormant Company Status - How to apply?
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.