Annual Compliance Checklist for Private Limited Companies

Running a Private Limited Company in India involves ongoing compliance obligations beyond the initial incorporation. Missing these can lead to penalties, director deactivation, or even the company being struck off. This checklist covers the key annual requirements.

Every Private Limited Company must hold its AGM within six months from the close of each financial year (i.e., by September 30 for companies with a financial year ending March 31). The AGM agenda must cover adoption of financial statements, declaration of dividend (if any), appointment/re-appointment of directors and auditors, and any other ordinary or special business. OPC (One Person Companies) are exempt from holding an AGM.

The accounts of a Private Limited Company must be audited by a practising statutory auditor. The auditor is appointed at the AGM and must be rotated every five years (individual auditor) or ten years (audit firm). The audit must be completed before the AGM.

Audited financial statements including the Balance Sheet, Profit & Loss Account, Directors' Report, and Auditor's Report must be filed with the MCA in Form AOC-4 within 30 days of the AGM (i.e., by October 29 if AGM is held on September 29). Late filing attracts fees of ₹100 per day.

The Annual Return in Form MGT-7 (or MGT-7A for small companies) must be filed within 60 days of the AGM (i.e., by November 28). It contains details of shareholding, directors, registered office, and company key managerial personnel. Late filing fees are ₹100 per day.

Every director holding a DIN must complete DIR-3 KYC annually by September 30. This involves e-KYC via Aadhaar OTP or web-based KYC. Failure to complete KYC deactivates the DIN, which must be reactivated by paying a penalty of ₹5,000.

A Private Limited Company must file its income tax return in ITR-6 by October 31 (or November 30 if a tax audit is required | i.e., if turnover exceeds ₹1 crore, or ₹10 crore for digital transactions). All directors of the company must also file their personal ITRs and, if they have taken loans from the company, may have additional reporting requirements.

Monthly filers must file GSTR-1 by the 11th and GSTR-3B by the 20th of each month (or 22nd/24th for QRMP scheme filers). An annual GST return (GSTR-9) is required by December 31 for the preceding financial year.

Companies must maintain statutory registers (Members Register, Directors Register, Charges Register, etc.) at the registered office. Minutes of every Board Meeting, General Meeting, and Committee Meeting must be recorded and signed within 30 days. These are frequently checked during inspections.

Beyond annual filings, companies must file event-based forms for changes such as appointment or resignation of directors (DIR-12), change in registered office (INC-22), alterations to MOA or AOA (MGT-14), and creation or modification of charges on assets (CHG-1). These must be filed within the prescribed timelines | often 30 days.

SRI Filing offers a managed compliance calendar, sending you timely reminders and handling all filings, so your company remains in good standing with the MCA throughout the year.