Setting up a private limited company is just the beginning of a business journey. After company incorporation, you need to adhere to several compliances under the Companies Act, 2013, in India. Understanding the necessary forms and complying with their requirements is pivotal for the smooth functioning and sustainability of any private limited company registration. In this comprehensive guide, we will also explore the post-incorporation compliances and the crucial forms that you must file after the incorporation of a private limited company.
1. Annual Filing Forms:
Form MGT-7 (Annual Return):
One of the fundamental compliances is filing the Annual Return. Every private limited company must file Form MGT-7 within 60 days of the Annual General Meeting (AGM). This form contains details about the company’s shareholders, directors, and the financial summary of the company.
Form AOC-4 (Financial Statements):
Private limited companies need to file their financial statements in Form AOC-4. This includes the balance sheet, profit and loss account, and the director’s report. You should file it within 30 days of the AGM.
2. Event-Based Forms:
Form ADT-1 (Appointment of Auditor):
Whenever a company appoints or reappoints an auditor, you must file Form ADT-1 within 15 days of the AGM with auditor appointment.
Form DIR-12 (Changes in Directorship):
If there are any changes in the board of directors, whether it is an appointment, resignation, or change in designation, you need to report it via Form DIR-12 within 30 days of such changes.
Form INC-22 (Change in Registered Office):
If a company changes its registered office from one place to another within the same city or from one city to another, it needs to file Form INC-22 within 15 days of the change.
Form PAS-3 (Allotment of Securities):
When a private limited company allotts new shares, it needs to file Form PAS-3 within 30 days of allotment. This includes shares issued for cash, conversion of debentures, and shares issued as bonus shares.
3. Compliance Certificates:
Form DPT-3 (Return of Deposits):
Private limited companies accepting deposits need to file Form DPT-3, furnishing the details of the deposits within 90 days from the closure of the financial year.
Form MSME-1 (Half-Yearly Return of Outstanding Payments to MSME Suppliers):
Companies who have outstanding payments due to Micro or Small Enterprises suppliers need to file this form. You should file it semi-annually by 31st October for April to September and by 30th April for October to March.
4. Other Compliances:
Form CHG-1 (Creation or Modification of Charge):
Whenever a company creates, modifies, or satisfies a charge (like a mortgage), it needs to file Form CHG-1 within 30 days of such creation or modification.
Form ADT-2 (Ratification of Auditor):
If the members of the company do not ratify the appointment of an auditor. You must file Form ADT-2 within 90 days from the AGM.
Form MGT-14 (Filing of Resolutions and Agreements to the Registrar):
You must file Certain resolutions and agreements with the Registrar of Companies within 30 days from the date of passing such resolution or making the agreement.
Conclusion:
Thus, in the realm of corporate governance, adherence to these post-incorporation compliances and the respective forms is not just a legal obligation. It is also a sign of a well-managed and responsible company. Non-compliance can lead to penalties, legal hassles, and tarnish the reputation of the company.
Hence, it is paramount for every pvt ltd company registration to maintain a vigilant eye on these compliances. They must ensure accurate filing and filing within the stipulated timelines. Seeking professional guidance and utilizing digital tools designed for compliance management can greatly assist companies in meeting their obligations effortlessly, allowing them to focus on what truly matters – their core business operations.
