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Annual Compliance’s for Pvt Ltd Companies – An overview
All Private Limited companies in India are governed by the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013. According to this act, every company, post incorporation, has to fulfil some, mandatory legal obligations. The compliance requirements are complex with each falling on different due dates and failing to meet them in a timely manner can greatly impact a company.
This may include paying heavy penalties (up to Rs. 1 lakh a year) or the companies and their directors getting blacklisted for a short period of time.
You should maintain a public record which consists of the company’s information which is called as the annual returns of the company, which will be available in the Companies Register. Every year, you are supposed to update the annual return companies regularly.
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