All the registered business entity has to file the annual returns as mandated by the Ministry of Corporate Affairs, Government of India. It is necessary so that the entity remains legitimate in the eyes of the law. As a part of the compliance, a private limited company has to file for their return in different frequencies viz, quarterly, bi-annually and annually.
A Private Limited Company has to conform to the following types of compliances.
It is obligatory compliance that the private limited companies have to adhere to; the annual compliance of a private limited company comprises the following.
The private limited company must adhere to certain compliance following specific events in this type of compliance. For example, the event base compliance gets triggered in the following cases.
It is a tough job to keep track of all the events and transactions that take place in a company. Hence, by taking the assistance of a professional firm to help out with the filing of all the compliance pertaining to the private limited company. With the help of our qualified
professionals of Taxrepair, we ensure that your annual compliance is filed before the due date seamlessly.
The Ministry of Corporate Affairs portal displays the date of the latest return filed by the private limited company. Therefore, the business entity that is consistently filing its return every year is more credible than others.
One of the first few things the potential investors vet before deciding on funding the company is whether the business entity is legally compliant or not. Next, they look at the ROC filing and check the financial statements of the private limited company. If the company files the required returns every year, investors will gain confidence in investing in such companies.
By following the mandatory compliance, it helps in creating transparency in all the business functions. In addition, a company following all the protocols of compliance and completing it on time will help them gain the trust of customers, which in turn means gaining loyalty from them.
The company has to maintain the books of account in an accurate manner; for doing that, they have to adhere to all the rules and regulations required by the governing act. Due to the timely manner of maintaining all the books, the business operation also becomes organised, leading to
fewer hassles and a systematic approach.
Annual filing of Private Limited Company is legal compliance, and failing to file the return attracts hefty penalty or leads to the removal of the company’s name from the ROC.
It is vital for the private limited company to adhere to all the statutory compliance requirements, and these compliances must be filed on or before the due date. Our highly qualified professionals at Taxrepair ensure that all the required documentation, policies and procedures for the annual compliance are taken care of and filed within the due date.
Contact our team of experts for seamless annual compliance services for Private companies.
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