Annual compliance is compliance which is obligation on entities to be fulfilled annually to operate within the framework of Indian laws. This will include mandatory forms filings, which need to be filed with statutory bodies to make itself complied.

These filings ensure that the company remains compliant with regulatory norms, maintains good governance, and avoids legal or financial penalties.

Importance of Annual Compliance:

  • Protect stakeholder’s interest
  • Maintain accurate records of financial and non-financial activities.
  • Strengthen the company’s operational integrity
  • Build Trust between stakeholders and attract investors
  • Streamline operations and minimize legal issues.
  • Prevent company dissolution or being struck off

Here we will discuss the requirement of annual compliance related to Private Limited, Public Limited Company and LLP:

Private Limited Company & Public Limited Company:

Company Law Compliances

Declaration of Commencement of Business

(for applicable company)

INC-20A

Within 180 days from the date of incorporation

Directors KYC

DIR-3KYC

Till 30th of Sep

Director discloser his interest in other entities.

 

Within 30 days of holding first board meeting

through Form MBP-1

Every Director  disclosure of non-disqualification

through form DIR-8 Each company directors in each financial year must file a non-disqualification report with the company

Every company will appoint Auditor

 

File form ADP-1 within15 days of the meeting in which auditor gets appointed

Every Company shall hold Meetings of its Board of Directors every year

Minimum number of meeting will be 4 in such a manner that maximum gap between two meeting not more than 120days

company must hold AGM every year

Within 6 month from the closer of financial year

Every Small Company must file its Annual Return.

Within 60 days of holding AGM.

Annual return should be filed via type MGT-7/7A for the period 1 April to 31 March

Financial Statement: Company is expected to file in this form their Balance Sheet along with Statement of Profit and Loss Account, Cash Flow Statement and Directors ' Report.

 

Annex: Balance sheet, Statement of Profit & Loss Account (including Consolidated Financial Statement), Board of Directors, Auditors ' Board, Statement of Cash Flow and AGM Notice

Within 30 days of holding AGM

Through form AOC-4

Initial Return for disclosure of details of outstanding money or loan received by company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014

Till 30th June of every financial year, through form DPT-3

As per Orders 2 and 3 of the Companies (Furnishing of Information about Payment to Micro and Small Enterprise Suppliers) Order, 2019, companies must file Form MSME-1 if they default or delay payments to micro and small enterprise suppliers. This requirement is mandated under Section 405 of the Companies Act, 2013, and Section 15 of the MSME Development Act, 2006.

Till 30th April for the half year (October to March)

 

Till 31st October for another half (April to September)

Every individual who becomes a beneficial owner or experiences a change in their beneficial ownership must submit a declaration in Form No. BEN-1 to the reporting company, disclosing their substantial beneficial ownership or any modifications thereto.

Every company must update the Registrar of Companies (ROC) regarding any changes in Significant Beneficial Ownership in compliance with Section 90 of the Companies Act, 2013 and Rule 4 of the Companies (Significant Beneficial Owners) Rules, 2018.

BEN-2 intimating to the ROC regarding the beneficial ownership

Within 30 days from the date of BEN-1

Maintaining of Statutory Registers
  • Registers of members
  • Register of directors and KMP
  • Register of Deposit
  • Register of Charge
  • Minutes book

And other as applicable as per the companies act 2013

As per the provisions of section 117 read with 179,

every Public Company required filing form MGT-14 with the ROC within 30 days of the approval of the Directors’ Report and the Financial Statement with ROC.

Appointment of RTA

Every Public company and non – small companies  needs to appoint RTA and gets securities dematerialised.

Annual Compliance of LLPs

No.

Agenda

Particulars

e-forms

Due Date Form Filling

1

Statement Of Account & Solvency

Every Limited Liability Partnership (LLP) must file a "Statement of Accounts and Solvency" in the prescribed form with the Registrar of Companies (ROC) annually, as mandated under Section 34(3) of the LLP Act, 2008.

 

Form-8

  

30th October

2

Annual Return

Every Limited Liability Partnership (LLP) must file its Annual Return (Form 11) with the Registrar of Companies (ROC) within 60 days from the close of the financial year.

 

Form-11

  

30th May