ROC Compliance of Private Limited
ROC Compliance of Private Limited
A lot of us want to have our own businesses and become entrepreneurs. With start-ups being the current trend and many of you beginning your entrepreneurial journey, it becomes necessary to follow some procedures and rules. One such important aspect is filing your documents and maintaining records with the Ministry of Corporate Affairs, which is called ROC compliance of private limited companies or compliance for private limited companies.
In short, do the annual filing of the company with the Ministry of Corporate Affairs. Let us look at what ROC Compliance/Annual ROC Compliance of private limited means and how to act in accordance with the law. Here you also need to know about the ROC due dates in order to fulfil the requirements of Annual ROC Compliance.
What is the full form of ROC and what does it mean?
ROC means the Registrar of Companies. It is an administrative office that manages the courses and paperwork of numerous companies that are tenable under the Companies Act 2013 of India. It is the governing authorities who are managing annual roc compliance of private limited companies or compliance for private limited companies.
The responsibility of ROC is to ensure that the companies are properly registered and that when they enroll, the recorded data is accurate, relating to the annual return and other accounting books. The ROC works as a-
Registry of records
Identifying the companies enlisted with ROC
Making them accessible for assessment by individuals
List of compliance:
Every Company must conduct its first Board Meeting within 30 days from the date of online company registration. However a Private Limited Company shall conduct atleast 4 Board Meetings in a year.
And gap between two meetings shall not be less than 120 days. However in case of One Person atleast 2 Board Meetings shall conduct in a year. These compliances for private limited company shall be comply every company and it is mandatory ROC compliance of private limited company.
A Private Limited Company or One Person Company shall appoint his auditor within 30 days from the date of registration as to maintain their compliances for private limited company.
For the purpose company must take consent from an auditor and file e-form ADT-1 with MCA along with requisite fees. It is mandatory Annual ROC Compliance for Private Limited Company.
Pvt. Ltd. Must submit companies’ current account statement containing proof of submission of subscribed amount with MCA within 180 days from the date of registration. On failure of filing MCA will charge late fees and after prescribed MCA may take action for closer of company also. You should not avoid ROC filing for private limited companies.
Every company need to conduct its Annual General Meeting upto 30th September each year. However in case of first AGM it can be conduct upto 31st December. Thereafter upto 30th September. This is very important compliance for private limited company.
The Compliances for private limited company which is filing of MGT- 7 is most important. After conducting Annual General Meeting Company need to file its Annual Return in form MGT-7 with MCA within 60 days from the date of AGM. The annexure of MGT-7 will be as- notice of AGM, notice to directors, Directors report, MGT-9, etc
This form need to file by company within 30 days from the date of AGM. Company shall annex its Balance sheet, P&L Account, notes to account, Auditor Report, etc. A company shall not fail in filing of this Compliances for ROC.
These are some mandatory compliance for private Limited which needs to be done by every Private Limited and OPC irrespective of its turnover and business. If you do not had any business during the year, you will not get any relaxation by MCA in filing of abovementioned forms and information.
Here are some benefits of ROC filing for private limited companies(ROC Compliance of Private Limited)
- In case if your company is non complaint, investor will not approach you or making funding in your company
- Proper ROC compliance helps you in avoiding penalties applied by MCA or other authority.
- It creates greater impact on customers mind that you are fulfilling all requisite criteria prescribed by government.
- If you make your company complaint, it helps in building trust upon governmental authorities.
- ROC Compliances of private limited company helps your organisation in better operation because it reduce pressure of any unwarranted penalties or late fees.
For making your company complaint you must done with ROC filing compliances/private limited company ROC compliance. For filing of ROC Compliances following documents are required-
MOA and AOA of Company
COI
Digital Signature of Directors
Bank Statement of Companies Account for Full Financial Year
Consent of Directors and members
For the purpose of making your company complaint we are providing tremendous offer to every company. We are providing a dedicated Professional to you so that you can ask your doubt and can manage your business whole year. Here you will get also checklist of ROC compliance of private limited companies and you can get an idea about the ROC due dates also. Along with private limited company ROC compliancesupport we are providing following services in this package as –
Appointment of First Auditor – within 30 days from registration of company
Holding of Board Meetings and preparation of minutes
Filing of INC-20A within 180 days from registration of company.
Holding the Board Meeting
Drafting the notice of BM,
Preparing minutes thereof.
Preparation of attendance sheets of the board meetings
Preparation of Balance Sheet, P & L Accounts, Audit Report, Director’s Report, Extract of Annual Returns & Financial Statements.
Preparation & Filing of Form AOC -04 (Financials Related Annual Return).
Preparation & Filing of Form MGT -07 (Management Related Annual Return).
All Monthly/Quarterly/Annual Mandatory Compliance.
All Mandatory Statutory Compliance by Chartered Accountants (Certificate of Practice Holder).
All Mandatory Secretarial Compliance by Company Secretary (Certificate of Practice Holder).
End to End Business Advisory/Business Support Services by Highly Experienced/Qualified Chartered.
Accountants & Company Secretary.
Preparation of Minutes of Board Meeting.
Preparation of Minutes of AGM.
Income Tax Returns (Company).
Share Certificate (For All Share Holders).
Preparation of MPB-01 (Disclosure of Interest by Directors).
Preparation of DIR – 08 (Disclosure of Non-Disqualification by Directors).
Above mentioned are ROC compliance checklist for private limited companies and ROC due dates, which every company must need to follow. For getting better understanding related to Company Return Filing, contact our CA Services Online panel and get better company return filing for your company.
Here is the process of Private Limited Company ROC Compliance, which need to follow before going for Private Limited Company ROC Compliance-
For better understanding over Compliances for company, you need to understand the process of ROC filing compliances. Which is given here as-
After Appointment of auditor in company open Current account of Company and deposit contribution money and submit it with MCA within 180 from registration.
For example you register a company with 1 Lack rupees capital in which A and B is director both have 50-50 % shareholding. A and B need to deposit the amount in bank within 180 days and provide its proof to professional so that it can submit with MCA. Here you will get your Business Commencement Certificate (INC-20A).
After closing of financial year, CA will close your Books of Account and prepare all financial statements and will submit it with Income Tax Department.
Before 30th September dedicated professional who are managing your company will issue notices to directors and member for conduct of Annual general Meeting
After due conduct of AGM requisite forms will be submitted with MCA.
Dedicated manager will also prepare all other required documents and application with MCA and other concerned department. If any.
Congratulations..! Here all requisite compliance has been done and you have successfully entered in your next financial year.
We have a panel of Chartered Accountants/ Company Secretaries/Advocates which are associated with us. We are providing a dedicated manager for managing your business. Who will take care of all compliances and other requirements of your business throughout the year. Let the burden shift on us and focus on your business so that you can achieve ultimate goal which you have set at beginning. For better opportunity call our CA Services Online at 9625279785 or 9267941961 and grab your discounted package today.
