Company Annual Compliances

Domestic Company Annual Compliances

MCA Compliances

S. No. Particulars Due Dates/Status
1 First Board Meeting Holding of first Board Meeting of Directors within 30 days of incorporation of Company
2 Subsequent Board Meeting Holding of minimum four Board meetings in a calendar year and not more than 120 days gap should be there between two meetings
  For Small Company, minimum two meetings in each half of calendar year with minimum gap of 90 days
3 First Annual General Meeting Within a period of Nine months from the date of closing of the first financial year of the Company
4 Subsequent Annual General Meeting Within a period of six months from the date of closing of financial year
  Not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next;
5 Disclosures of Interest by Directors/Declaration Every Director shall in the first Board meeting of the Board in every financial year disclosure his interest in form MBP-1 and declaration in form DIR-8
6 Appointment of First Auditor Appointment of first auditor in Board meeting within 30 days of incorporation
7 Appointment of Subsequent Auditor Will be appointed for 5 years in AGM
  Within 15 days from the date of appointment in Annual General Meeting
8 Filing of form ADT-1 Within 15 days from the date of appointment of Auditor
9 Filing of Financial Statements i.e. form AOC-4 Within thirty days of Annual General Meeting. Failure to file AOC-4 will attract a penalty of Rs. 200 per day of default or delay.
10 Filing of Annual Return i.e. form MGT-7 Within sixty days of Annual General Meeting. Failure to file AOC-4 will attract a penalty of Rs. 200 per day of default or delay.
11 Statutory Audit of Accounts By a Chartered Accountant
12 DIN eKYC All the directors of the company must be filed for the DIN eKYC or DIR-3 eKYC. In DIR-3 eKYC, the Director must provide a unique personal mobile number and a personal email address. There’s a penalty of Rs. 5000 in case of failure to file DIN eKYC.
13 Maintenance of Statutory Registers, Minutes books and records All the Companies are advised to maintain few statutory registers in the prescribed format such as register of members, register of charges, register of directors and KMP, register of loan and guarantee etc.
  Minutes of Board meeting and general meeting, Attendance Register, Books of Accounts etc. are to be maintained
14 Proof of circulation of Notice, Draft and Signed Minutes Should be maintained for a period of three years from the date of meeting
15 Directors KYC* 30th of September
16 E-Form MSME-I Every Company having outstanding payments dues to micro and small enterprises and in case the payment of the same is pending beyond 45 days, then the Company has to furnish details as per the following timeline:
  For April to September by 31st October
  For October to March by 30th April
17 E-Form DPT-3* All the Company having any outstanding loan/amount as on 31st March of every financial year has to furnish details and bifurcation of such outstanding amount irrespective of the fact whether such amount is falling under the definition of deposit or not by 30th June

Income Tax Compliances

Forms Particulars Due Date
ITR 6/7 If tax audit is not applicable 30th September
ITR 6/7 If tax audit is applicable 31st October
ITR 6/7 If Transfer pricing is applicable 30th November
Tax Audit Form 3CA-3CD Taxpayer requiring mandatory audit under any other law and who is required to get their accounts audited by an Accountant u/s 44AB 30th September
Tax Audit Form 3CEB Taxpayer who enters into an international transaction or specified domestic transaction is required to obtain a report from a chartered accountant u/s 92E. 31st October
Advance Tax Payment Advance Tax Due Dates Advance Tax Payable*
  On or before 15th June 15%
  On or before 15th September 45%
  On or before 15th December 75%
  On or before 15th March 100%
  *Percentage of Advance Tax
TDS filing As per applicable sections Quarterly

GST Compliances

GST registration is required for businesses whose annual turnover exceeds Rs 40 lakhs ( Rs 20 lakhs for North Eastern states). For some businesses like Export-Import, E-commerce, and Market Place Aggregator, GST registration is mandatory. After GST registration firms have to file monthly, quarterly and annual GST returns.

Documents Required

  • PAN Card of the Directors.
  • Financials of the company, if not then Bank Statement, purchases, sales & expenses invoices for the financial year.
  • Address Proof of the Directors.
  • Rental Agreement Copy between the Company and the Landlord. No-Objection Certificate from the Landlord.
  • MSME Disclosure (Format to be provided by us).
  • Details of LLP and or company in which directors are designated partner or director.
  • Statement of contingent liabilities to be attached in case any contingent liability exists.
  • Copy of TDS returns filed.
  • Copy of GST returns filed.
  • Challans of any tax paid.