Annual Compliances for Private & Public Company in India

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  • Avoid Penalties
  • Stay Active on MCA Portal

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Overview of Annual Compliances for private /public Company

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After incorporation of a company—whether Private Limited or Public Limited—the real responsibility begins with fulfilling annual compliance requirements as mandated under the Companies Act, 2013, Income-Tax laws and other regulatory frameworks. Compliances are essential to maintain legal status, credibility, and operational continuity of the company. Regular compliance also helps avoid heavy penalties, disqualification of directors, and even company strike-off by the Registrar of Companies (ROC).

What Are Annual Compliances?

Annual compliances refer to a set of mandatory filings, meetings and statutory obligations that a company must complete every financial year. These include ROC filings, board and shareholder meetings, tax returns, audits, maintenance of books, and other regulatory disclosures.

Why Annual Compliance Is Important

Annual compliances are critical because:

They ensure the company remains in active legal status on the MCA database.

Timely filing helps avoid penalties and interest charges from ROC or tax authorities.

Compliance record improves business credibility and enhances investor confidence.

Required for corporate governance and transparency.

Documents Required for LLP Registration

Two Colour Photographs of Promoters/Individuals/ Company/ Director
PAN Card of each Shareholders and directors
Identity Proof (Voter ID / Driving License/ Passport)
Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
Proof of Registered Office
Utility Bill as proof must be Latest
Private Limited Company Registration

Who Must Comply?

Every company registered under the Companies Act, 2013 must follow annual compliances, including:

  • Private Limited Companies
  • Public Limited Companies
  • One Person Companies (OPCs)
  • Small Companies & Startups

Annual compliance applies irrespective of the company’s turnover or profit status.

Penalties for Non-Compliance

Failing to file any statutory compliance can lead to:

  • Heavy late fees (₹100/day per form) with no upper cap.
  • Director disqualification for continuous defaults.
  • Possible company strike-off by ROC.
  • Interest & penalties under tax laws.

Annual Compliance Costs

Annual compliance costs vary depending on size, audit requirement, and professional support:

  • ROC filing fees (varies by capital).
  • Auditor fees (audit report preparation).
  • CA/CS professional fees for filings and calendar management.
  • GST & Tax filing support costs.

Core Annual Compliance Requirements

1. Conduct Board Meetings

Every company must hold a minimum number of board meetings in a financial year:

  • At least 4 board meetings each year.

  • The gap between two meetings should not exceed 120 days.

  • The first board meeting must be held within 30 days of incorporation.

Board meetings are essential for approvals related to financial results, auditor appointment, director disclosures, etc.

2. Annual General Meeting (AGM)

An Annual General Meeting (AGM) must be held every year:

  • Within 6 months of the financial year end.

  • Financial year in India generally ends on 31st March, so AGM must be completed by 30th September.

  • Notice of AGM must be issued at least 21 days before the meeting. anuvartanaservices.com

In the AGM, shareholders approve financial statements, appoint auditors, declare dividends, etc.

3. Annual Returns Filing (MGT-7 / MGT-7A)

All companies must file their annual return with the MCA.

  • Form MGT-7 for most companies.

  • MGT-7A for small companies and OPCs (where applicable).

  • Due within 60 days from the date of the AGM.

Annual return contains details of shareholders, directors, registered office, capital structure, etc.

4. Financial Statements Filing (AOC-4)

Companies must prepare and file audited financial statements annually:

  • Balance Sheet, Profit & Loss Account, Cash Flow Statement, Notes.

  • Directors’ Report and Auditor’s Report must be attached.

  • Filed in Form AOC-4.

  • Due within 30 days from the date of AGM.

5. Director KYC — DIR-3 KYC

All directors with an active DIN must file DIR-3 KYC annually:

  • Usually due on or before 30th September every year.

  • Keeps DIN active and updated in the MCA database. 

6. Statutory Auditor Appointment & Audit Report

  • Company must appoint a statutory auditor within 30 days of incorporation.

  • Auditor must audit accounts for each financial year.

  • The audit report forms part of the annual financial statements.

Non-Registrar Compliances

Apart from ROC filings, companies must comply with other statutory duties:

Tax Compliances

  • Income Tax Return (ITR-6) must be filed annually.

  • Advance tax, TDS and other tax obligations must be completed.

  • Tax audit required if turnover exceeds limits set by the Income-tax Act. 

GST Compliance

If the company is GST-registered:

  • Monthly or quarterly returns (GSTR-1, GSTR-3B).

  • Annual return GSTR-9 (if applicable).

  • Reconciliation (GSTR-9C) if turnover is above threshold. 

Other Filings

  • TDS returns, Professional tax, and other applicable levy returns.

Difference Between Private & Public Company Compliances

While most compliances remain similar:

  • Public companies may have additional disclosures and governance requirements.
  • Public companies often follow stricter timelines & additional forms.
  • Listed public companies must follow SEBI listing compliances also.

A detailed comparison can be created if you need it.

How Taxhit Consultancy Helps

We offer:

  • Full compliance calendar management

  • ROC annual filings

  • Tax & GST filings

  • Director KYC / DIN renewals

  • Statutory audit coordination

  • Customized compliance reminders

✅ End-to-end annual compliance support with transparent pricing.

FAQs (Frequently Asked Questions)

Annual compliance refers to statutory filings and duties a company must perform each financial year as per MCA, Income-tax and other laws.

Yes, companies must hold an AGM within 6 months of the financial year end.

DIN may be marked inactive and attracts penalties.

Yes, statutory audit is mandatory for companies.

Generally by 30th September or prescribed due date.