Private companies are those companies that are owned by private individuals and there will be no government interference in the operation of the company. A private company trades its shares with a small group of shareholders and does not trade publicly.
Every company whether it is private or public comes under the Companies Act 2013, the act should have some compliances according to the prescription. If the company fails to file compliances it has to face some penalties which are charged per day till the company pays it.
Within 30 days of incorporation of a private company, you should appoint an auditor for 5 years by filing ADT – 1 form with the registrar of companies [ROC].
Filing compliance is mandatory for all types of companies. It will be done with the Ministry of Corporate Affairs or MCA under the registrar of companies which has 22 branches all over India.The private company should conduct a minimum of two board meetings. At least 2 directors or 1/3rd of the total directors must be present and informed 7 days before.
Event-Based Compliances (Non-compliance risks can be handled by immediate filing at the time of happening): TDS or TCS payments, GST filing, Income tax returns, Tax audits, Advance tax payments, Other statutory allocations.Annual General Meeting [AGM] should be conducted once a year and there should be a gap of maximum 15 months between 2 AGMs.
Filing Pipeline Pipeline Process StepThe directors of the private company should file MBP – 1 with the ROC for disclosing their interests in any other company at the first board meeting every year.
Filing Pipeline Pipeline Process StepThe directors of the company should file disclosure of non – disqualification by filling up form DIR – 8 every year.
Filing Pipeline Pipeline Process StepThe company should appoint a statutory auditor for auditing and preparing your company's audit report for the financial year.
Filing Pipeline Pipeline Process StepAfter conducting AGM within 60 days, the company has to file form MGT – 7.
Filing Pipeline Pipeline Process StepThe company has to file form AOC – 4 which includes details regarding financial transactions made in the year with the ROC.
Filing Pipeline Pipeline Process StepThe company should prepare its accounts and get them audited by a chartered accountant.
Filing Pipeline Pipeline Process StepMaintaining statutory registers, minutes of the meeting, and other reports must be preserved as mandatory.
Filing Pipeline Pipeline Process StepProfessional Fees Summary
+ Govt. Fee & GST
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