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- Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. Bizcruise will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.
Private Limited Company Annual Filing & Compliances
All organizations enrolled in India like private restricted organization, one individual organization, restricted organization, and segment 8 organization must record MCA yearly return and personal assessment form every year. Prior to documenting yearly return, the organization must lead an Annual General Meeting toward the finish of each monetary year. For recently joined Companies, the Annual General Meeting should be held inside year and a half from date of consolidation or 9 months from the date of shutting of monetary year, whichever is prior. Resulting Annual General Meetings should be held inside a half year from the finish of that monetary year. In India, ordinarily the monetary year begins on April first and end on 31st March. So a Company’s yearly profit would be expected for or before September 30th.
Notwithstanding MCA yearly return, organizations should likewise record annual expense form independent of pay, benefit or misfortune. Subsequently, even torpid organizations without any exchanges are needed to document personal expense form every year. Private restricted organizations, restricted organizations and one individual organizations would be needed to document Form ITR – 6. The due date for documenting personal government form for an organization is prior to the 30th of September.
Bizcruise gives a far reaching cloud based iCFO and consistence the executives administration for little and medium measured business. Our consistence administration incorporates budget report readiness, secretarial administrations, personal expense form recording and MCA yearly bring documenting back. In view of necessity as your business scales, we can likewise give GST return recording administrations, TDS return documenting administrations, advance expense calculation and finance preparing. Connect with an Bizcruise Advisor to start dealing with your organization’s consistence in a simple and bother free way.
Private Limited Company Compliance Due Dates in 2020
The compliance requirement for private limited company has drastically changed over the years 2019 and 2020. The following is a summary of private limited compliance due dates in 2020.
Commencement of Business (Within 180 Days)
Organizations enrolled in India after November 2019 and having an offer capital are needed to acquire beginning of business endorsement prior to starting any business or practicing any obtaining powers. The beginning of business authentication must be gotten inside 180 days of joining of the organization. Inability to acquire beginning of business testament will prompt a punishment of Rs.50,000 for the organization and a punishment of Rs.1000 every day for the Directors for every day of default.
Auditor Appointment (Within 30 Days)
All companies registered in India must appoint a statutory Auditor within 30 days of incorporation. Failure to appoint an Auditor will lead to a penalty of Rs.300 per month and the company would not be allowed to commence business.
Income Tax Return (30th Sep 2020)
Private limited companies registered in India must file Income Tax Return on or before 30th September 2020 for the FY2019-20. Failure to file income tax return attracts a penalty of Rs.10,000.
MCA Form AOC-4 (30th Nov 2020)
Private limited companies registered in India must file MCA Form AOC-4 on or before 30th November 2020 for FY2019-20. Failure to file AOC-4 attracts a penalty of Rs.200 per day of default or delay.
MCA Form MGT-7 (31st Dec 2020)
Private limited companies registered in India must file MCA Form MGT-7 on or before 31st December 2020 for FY2019-20. Failure to file MGT-7 attracts a penalty of Rs.200 per day of default or delay.
DIN eKYC or DIR-3 eKYC form must be filed for all the Directors of the company. In DIR-3 eKYC filing, the Director must provide and verify a unique personal mobile number and personal email address. Failure to file DIN eKYC attract a penalty of Rs.5000 per DIN.
Your company will be assigned a dedicated Compliance Manager who will be a single point of contact to help you maintain the compliance for your company. You can get in touch with your Compliance Manager at anytime and get assistance on matters related to your Company’s compliance.
All companies are required to maintain accounts and prepare financial statements at the end of each financial year. Our Compliance Manager will help your company maintain accounts and will prepare the financial statement for your business at the end of financial year.
Companies are required to conduct a minimum of four board meetings, an annual general meeting, Directors Report and Annual Report each financial year. Our Compliance Manager will help you prepare minutes of board meetings and create all secretarial reports.
MCA Annual Return Filing
Annual General Meeting should be held by a company within 6 months from the end of that financial year. And MCA annual return must be filed on or before September 30th. Our Compliance Manager will prepare all the documents and file your company’s MCA annual return.
Income Tax Return Filing
Income tax return of a company must be filed irrespective of income, profit or loss. Hence, even dormant companies with no transactions are required to file income tax return each year. Our Compliance Manager will prepare all the documents and file your company’s income tax return.