Pvt Ltd Company Annual Compliance IT, ROC Audit Filing Pricing

A Private Limited Company is a company registered under the Companies Act, 2013 that provides limited liability protection to its shareholders. It requires a minimum of 2 directors and 2 members and can have up to 200 members. The company's capital is divided into shares, and share transfer is restricted. The company's name must end with "Private Limited", and its accounts must be audited annually

The Director Identification Number (DIN) is a unique identification number allotted to a Director or proposed Director of a company by the Ministry of Corporate Affairs under the Companies Act, 2013. It is mandatory for any individual intending to act as a company director. DIN is obtained by filing an online application with MCA along with identity and address proof. Once the MCA verifies the documents, the DIN is allotted to the applicant.

MOA is a document containing the charter of a company and fundamental objectives which the company seeks to achieve. The registration of a company depends fundamentally on how effectively the MOA is framed.

Articles of Association (AOA) contain the guidelines and other rules and regulations to regulate the internal management of the company.

ROC Filing refers to the statutory annual filing of financial statements and annual returns by companies with the Registrar of Companies under the Companies Act, 2013 (earlier 1956 Act).

Every company must file details such as financial statements, list of members, directors, and indebtedness after the Annual General Meeting (AGM). Under the Companies Act 2013, key forms include AOC-4 (Financial Statements) and MGT-7/7A (Annual Return). Filing is generally required within 30 days (AOC-4) and 60 days (MGT-7/7A) from the AGM date.

The three structures are governed by different laws — Pvt Ltd and OPC under the Companies Act, 2013, and LLP under the Limited Liability Partnership Act, 2008.

Private Limited Company (Pvt Ltd):

Minimum 2 directors and 2 shareholders; suitable for raising funds and external investment. Higher compliance (audit mandatory) and structured governance.

Limited Liability Partnership (LLP):

Minimum 2 designated partners; comparatively lower compliance. Audit required only if turnover exceeds ₹40 lakhs or contribution exceeds ₹25 lakhs.

One Person Company (OPC):

Single owner and 1 director; ideal for solo entrepreneurs. Compliance is similar to a private limited company but ownership is restricted to one person.

All three provide limited liability, but the choice depends on funding needs, compliance capacity, and ownership structure.

• Annual compliance refers to the mandatory yearly filings and procedures that every company must complete under the Companies Act, 2013.
• Every company must hold an Annual General Meeting (AGM) each financial year and present its financial statements to the members. The adopted financial statements must be filed with the Registrar of Companies in Form AOC-4 within 30 days of the AGM.
• Additionally, the company must file its Annual Return (Form MGT-7/7A) within 60 days of the AGM.

Statutory Audit:

A statutory audit is mandatory under the Companies Act, 2013. Every company must appoint its first auditor within 30 days of incorporation. The auditor examines the financial statements to ensure they present a true and fair view.

Tax Audit:

A tax audit is conducted under the Income-tax Act, 1961 (Section 44AB). It is mandatory for specified businesses or professionals exceeding prescribed turnover/receipt limits. The audit must be completed by the due date (generally 30th September) by a Chartered Accountant.

If a company fails to file its ROC with the Registrar of Companies within 30 or 60 days of the AGM under the Companies Act, 2013, it must pay additional fees for the delay.

Under the current provisions, additional fees are generally levied at ₹100 per day of delay until the default continues.