Major Compliance Applicable To Private Limited Companies


  1. Objective
  2. What is Private Limited Company?
  3. Major Compliance

          a) ROC Compliance

          b) Income Tax Return Filing

          c) GST Returns Filing

          d) Audit Compliances

          f) Quarterly TDS and TCS Returns Filing

          g) ESIC Compliances

          h) EPF Compliances

        4) Conclusion


Now-a-days, doing a business in this competitive environment is a very challenging task for the entrepreneur and along with handling business hurdles,he/she should have to comply with statutory compliances which shall be constituent by Government of India or any of its department like Ministry of Corporate Affairs (MCA). So, through this blog we would like to guide you in better understanding of this statutory compliances in case Private Limited Company.

Private Limited Company

As per section 2(68) of Companies Act, 2013 defines private limited companies as  those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them and having a restriction on the no. of members into the company.

Major Statutory Compliances 

In case of Private company, one should have to do below mention compliances for smooth functionality of its business : 

  1. ROC compliances

Registrar of Companies is an office under MCA that deals with the administration of the Companies Act, 2013. It is the duty of the RoC to ensure private limited companies comply with the statutory requirements laid down under this Act. RoC functions as registry records related to the companies registered with them.

Meeting compliances

There should at least be four board meetings to be conducted in a calendar year and in case of a private company the minimum requirement is two. 1/3rd of the total number of directors or minimum 2 whichever is greater should be present at the meeting and be intimated to board at least 7 days prior about the agenda of the meeting. Minutes of the board meeting is to be kept at the registered office of the company

One AGM should be held every year and a gap of 15 months should exist between two AGMs and the same should be intimate to ROC.

 Annual Return Filing 

 There is 2 annual compliance should be filed by Companies as under:

  1. Filing of Annual Return Form (MGT-7)

Every private limited companies should file MGT 7  along with the fees within 60 days from the date of AGM or the date as may be extended by the prescribed authority which shows

-Details of the meetings (Board meeting and AGM)

-Registered office and principal place of business along with other holdings and associate companies

-Debenture holders/members including the changes made

-Key managerial personnel, Directors and Promoters (mention the changes made)

-Remuneration of Directors and Key managerial personnel

-Details of the legal matters that the company is involved in

-Shareholding pattern 

-Debentures, shares and other securities 

  1. Filing of financial statement (AOC-4)

Every private limited companies should file AOC-4 along with the fees within 30 days from the date of AGM or the date as may be extended by the prescribed authority which shows

-Details of the particulars on the Balance sheet.

-Details of the Profit and Loss account.

-Details of the Corporate Social Responsibility.

-All the Related Party Transactions that the company have entered into

-The audit report and any other transaction. 

2)  Income tax return Filing

Every company should file their income  tax return on or before the due date as specified in the Finance Act of that year.In case of company, it is 31st October of the Assessment year.

3) GST returns Filing (if applicable)

Currently, registration under GST law can be possible at the time of incorporation only while filing the SPICE + form.

Companies should have to file monthly or quarterly returns of the supply of the goods and services as per GST law if it has been applied for or has GSTIN.

4) Audit Compliances

Audit is compulsory for a Private Limited Company every financial year.Also, within 30 days of Incorporation of it, the board needs to appoint an Auditor (first auditor) for Private Limited Company.

If the board fails to appoint an auditor within 30 days, then the shareholders must be informed. They are then required to make an appointment within 90 days of incorporation.

5) TDS or TCS compliances (if applicable)

Companies should file their TDS or TCS (if applicable) on the last day of the following month from the relevant quarter and pay an tax amount on the 7th day of the following month  or the date as may be extended by the prescribed authority.

6) ESIC or EPF compliances (if applicable)

The Employees Provident Fund (EPF) will be deducted from every employees’ salary, and the payment due date is within the 15th of the following month. Payment and filing for the PF return date are the same, and you can process it at the same time. Therefore, the due date of the PF return is the same as the payment date, and that is before the 15th of the following month. The PF annual return due date is 25th April of the following year.

Every employer makes the Employees state insurance payment on a monthly basis, and the payment is given to the ESI department. The due date for ESI is the 15th of the following month, which can also exceed or change according to the department rules. 

The employer needs to pay ESI return on a half-yearly basis, and the due dates are also fixed as follows:

Period of Return                  Due date of filing of return

April to September                     11th November

October to March                       11th May


To conclude the above mentioned details, it is advisable to comply with all the above mention statutory requirement on time so to avoid from the penal provision of the respective law and take advantage of benefits given by government to non-defaulters. 

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Swapnil S

CA in Mumbai

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