What are the ROC compliances for private limited companies?

What are the Mandatory RoC Compliance Filings for a Private Limited Company?

• Board Meeting.
• Annual General Meeting (AGM)
• Appointment of the Auditor (Form ADT-1)
• Director Disclosure.
• Accounts to be Audited by a Statutory Auditor.
• Filing of Form MGT-7.
• Filing of Financial Statement (Form AOC-4 )
• Statutory Audit of Accounts.

Is ROC compliance mandatory?

It is mandatory to file the ROC forms, returns and documents with the Registrar of Companies (ROC). It will help the Registrar of Companies and Government will understand how to company is working during the financial year in accordance with the Companies Act, 2013.

Is tax audit mandatory for private limited company?

Statutory Audit as the name suggests is a compulsory audit for all companies. Every entity which is registered under the Companies Act, as a Private Limited or a Public Limited company has to get its books of accounts audited every year.

What happens if ROC is not filed?

If the company fails to file the ROC Filing, the company as well as the directors are liable to the penalties and the consequences for non-filing. In case if there is further failure in filing the annual return, then a fine of Rs. 100 per day which is subject to maximum of Rs. 5,00,000 as penalty.

What is the rules of private limited company?

A Pvt Ltd Company must have a minimum of two directors and a maximum of fifteen directors. A minimum of two shareholders is required for legal registration of a Pvt Ltd company. A total of two hundred shareholders are acceptable in any Private Limited Company but not more than that.

Do private companies require an audit?

Both public and private companies are subject to generally accepted accounting principles, although for different reasons. The SEC requires publicly traded companies to provide GAAP-compliant audited financial statements. However, many private companies don’t issue audited financial statements.

Is Date Extended for ROC filing?

The ROC’s of every state has issued the order of extension of time for holding AGM by two months. Thus, the due dates for filing Form ADT-1, AOC-4, MGT-7 and MGT-14 are extended by two months since there is an extension for holding AGM for FY 2020-21 by two months.

What is annual return to be filed with ROC?

Annual ROC Filings Form MGT-7 (Annual returns) must be filed within 60 days of holding the annual general meeting. Form AOC-4 (Financial statements) is to be filed by a private limited company within 30 days with the balance sheet and the statement of profit and loss account and Director report.