Private Limited Company Compliance Life Cycle

Private Limited Compliance Life Cycle Explanation

1. Consultation before registering a private limited company

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

2. Register a company

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

3. Auditor Appointment (ADT 1)

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

4. Open a Bank account

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?

5. File INC 20A

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

6. DPT 3

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

7. Director KYC

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

8. Preparation of Financials

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

9. Conduct AGM

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

10. File ITR and Tax Audit under Income Tax

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

11. AOC 4

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

12. MGT 7A

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

13. Change MOA / AOA

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

14. Change in Director

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

15. Change in Address

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

16. Close Company

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

17. Convert Company

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.

Know more on Compare Business Registrations

18. Apply Dormant Status

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?