Post incorporation ROC compliances of Private Limited Company in Indiaby Abhinav K. Digital Marketing Expert, Freelance
In this write up, we would understand various taxation, regulatory and other compliance which needs to be completed post company formation in India.
1. Appointment of first auditors of the Private Limited company
First auditors of the company shall be
appointed within 30 days of private limited company
registration in India. This is not applicable in
case of Government Company. The first auditor will hold office till end of
first annual general meeting.
Holding of First Board meeting of the Private Limited company
Every private limited company has to hold first board meeting of its directors within 30 days of company formation in India. Further, atleast 4 board meetings shall be held every year and gap between two board meetings shall not be more than 120 days.
3. Applying for Certificate of Commencement of Business
Within 180 days of private limited
company registration, every company shall
apply for certificate of commencement of business by filing necessary forms
with ROC. This is an acknowledgement of the fact that all the subscribers have
contributed towards their share application money.
4. Disclosure of interest of the Director
Every director shall disclose in the first
board meeting, his interest in any company or firm or body corporate or
association of individuals as prescribed under companies Act. This disclosure
needs to be made every year in the first board meeting or as and when there is
change in disclosure. Form MBP-1 needs to be filed with ROC for disclosing
interest of such directors.
5. Holding of Annual General Meeting of the Company
Post company formation in India, it is mandatory to hold Annual General Meeting every year
within end of 6 months from close of financial year. Further, the gap between
two AGM shall not be more than 15 months. Also, the first AGM shall be held
within 9 months from close of the financial year. The agenda of AGM is
normally discussion and adoption of financial statements, appointment or
reappointment of statutory auditors, declaration of remuneration
and dividend etc.
6. Filing of annual return in form AOC-4 before ROC
Within 30 days of end of AGM, every company is
required to file annual ROC return in form AOC-4 along with copies of balance
sheet, statement of profit and loss account, notice of AGM, MGT-9 and
7. Filing of annual return in form MGT-7 before ROC
Within 60 days of end of AGM, every company is
required to file annual ROC return in form MGT-7. In case of companies having
Turnover of Rs 50 crore or more or in case of companies having paid up capital
of Rs 10 crore or more, form MGT-7 need to be certified by company secretary in
practice in form no. MGT-8.
8. Filing of form DPT-3 before ROC
Every company having outstanding amount or loan
as on 31st March has to file form DPT-3 mentioning details of such
outstanding amount. This form needs to be filed even if amount outstanding is
falling under definition of deposit or not. Due date of filing is 30th
9. Filing of form MSME (Half yearly) before ROC
Form MSME needs to be filed by every company
which has outstanding dues payable to MSME beyond 45 days. This form need to be
filed half yearly basis. For first 6 months, due date is 31st
October and for last 6 months, due date is 30th April.
10. Director KYC by filing form DIR-3KYC
Every director of the company, who has obtained
DIN before 31st March 2020, needs to do director KYC every year by
filing form DIR-3KYC. Failure to do so may lead to deactivation of DIN as well
as penalty of Rs 5000 for each DIN.
11. Statutory registers and records
Every company is required to maintain statutory
registers prescribed under companies act along with minutes of board meetings,
minutes of AGM at the registered office of the company.
12. Share certificates
Every company shall issue share certificates to its shareholder within 60 days of company formation in India. Further, whenever additional shares are issued and allotted, share certificates need to be issued within 60 days of such allotment.
Company needs to report share subscription money
In case of subsidiary company registration in India, share subscription money received in Indian bank account from foreign shareholders in the form of FDI needs to be reported to RBI by filing form FCGPR etc.
Created on Oct 25th 2021 04:44. Viewed 80 times.