Annual compliances for a private limited company
A private limited company files its financial statements and its annual return with the Registrar every year. Company Suggestion prepares those forms, the board meetings and the annual general meeting.
Which annual filings does a private limited company make?
A company that is not a small company has six recurring MCA duties.
- At least four board meetings in the year, with not more than 120 days between two meetings.
- An annual general meeting within six months of the financial year end.
- Form AOC-4, the financial statements, within 30 days of that meeting.
- Form MGT-7, the annual return, within 60 days of that meeting.
- Form ADT-1 within 15 days of the meeting that appoints the auditor.
- DIR-3 KYC Web for every director who holds a DIN, by 30 June of every third consecutive financial year.
Two further returns apply when the facts exist. DPT-3, the return of deposits, is due by 30 June. MSME-1 is due on 30 April and 31 October when amounts owed to micro or small suppliers have been outstanding for more than 45 days.
Which companies use the shorter calendar?
A small company uses two lighter rules.
- One board meeting in each half of the calendar year, with a gap of at least 90 days, instead of four meetings.
- Form MGT-7A instead of MGT-7.
A small company has paid-up capital up to ₹4 crore and turnover up to ₹40 crore. A one person company has its own calendar, on the OPC annual compliances page.
Which papers does the filing need?
The yearly set has five papers.
- The trial balance and the financial statements
- The auditor’s report, when an audit applies
- The board report
- The list of shareholders and directors as on the year end
- The minutes of the board meetings and the annual general meeting
What is the yearly order of work?
Company Suggestion runs the year in five steps.
- Board meetings are held through the year and the minutes are written.
- The financial statements are approved by the board.
- The members adopt them at the annual general meeting and appoint or continue the auditor.
- AOC-4 and ADT-1 are filed, then MGT-7 or MGT-7A.
- DIR-3 KYC Web is filed by 30 June of every third consecutive financial year, and within 30 days of a change in mobile number, email, or residential address.
Frequently asked questions
4 questions cover the rules that decide this registration.
When is the annual general meeting?
Within six months of the financial year end. For a year ending 31 March, that date is 30 September. The first AGM can be held within nine months of the first financial year end.
What is the difference between MGT-7 and MGT-7A?
MGT-7 is the annual return of a company. MGT-7A is the shorter return for a one person company and a small company.
What is a small company?
Paid-up capital up to ₹4 crore and turnover up to ₹40 crore. A section 8 company, a holding company and a subsidiary are not small companies.
When is DIR-3 KYC due?
By 30 September each year, for every director who holds a DIN.