Private Limited Company Annual

Compliances for Private LTD company:

• First Board Meeting: The First Meeting of the Board, along with Directors, is expected to be held within 30 days of the Incorporation of the Company. Declaration of Board Meeting must be sent to each director at least seven days prior to the meeting.
• Subsequent Board Meetings: Minimum of 4 Board Meetings to be checked every year with a gap of not more than 120 days between two meetings.
• First Auditor: The Board of Directors shall designate the first Auditor of the Company within 30 days of Incorporation, who shall continue the office till the completion of the 1st Annual General Meeting. In the matter of First Auditor, filing of ADT-1 is not necessary.
• Subsequent Auditor: The Board of Directors shall delegate the Auditor in the first Annual General Meeting of the Company, who shall hold the position until the 6th Annual General Meeting and notify the same ROC by filing ADT-1. The capacity to submit Form ADT 1 is of the company and not the Auditor in between the 15 days from the time of appointment.
• Annual General Meeting: Every company is needed to hold an Annual General Meeting on or before 30th September every year during working hours (9 am to 6 pm). On a day that is not a general public holiday and either at the certified office of the company within the city, town/ village where the certified office is positioned. A 21-day notice is required to be given for the same.
• Filing of Annual Returns (Form MGT-7): Each and every Private Limited Company is expected to file its Annual Return within 60 days of conducting of Annual General Meeting. Annual Return will be for the time 1st April to 31st March.
• Filing of Financial Statements in (Form AOC-4): Every private Limited Company is expected to file its ‘Balance Sheet’ along with a statement of ‘Profit and Loss Account’ and ‘Director Report’ in this Form within 30 days of holding off ‘Annual General Meeting’.
• Statutory Audit of Accounts: Each and every company should prepare its Accounts and get the same audited by a Chartered Accountant or any appropriate person at the end of the Financial Year mandatorily. The Auditor should provide an Audit Report and the Audited Financial Statements to file with the Registrar.