ANNUAL COMPLIANCE AND FILING
The Companies Act, 2013 of Indian Govt. legally mandates every entity in the country to follow the declarations of the Annual Compliance. For the Private Limited Companies (Pvt. Ltd.), One Person Companies (OPC), or Limited Liability Partnerships (LLP), Annual Compliance acts as a regular update to the Govt. that the entity is conducting its business under the particular Act.
Annual Compliance for Pvt. Ltd. Co./OPC:
ADT – 1: Auditor Appointment
AOC – 4: Annual Return Filing (within 30 days of Company’s AGM)
MGT – 7: Annual Return Filing (within 60 days of Company’s AGM)
DIR – 3: KYC of the Company Director(s)
INC – 20A: Declaration for the commencement of business
How should be the agreement between partners formed?
Partnership deed is an agreement between the partners in which rights, duties, profits shares and other obligations of each partner is mentioned.
Partnership deed can be written or oral, although it is always advisable to write a partnership deed to avoid any conflicts in the future.
Required Documents for Pvt. Ltd. Co.:
- Directors’ Board Meeting minutes
- Profit & Loss Balance Sheet of Pvt. Ltd./OPC
- Conclusions from the Annual General Meeting (AGM)
- Audit report
- DSC of the Directors
- Incorporation documents (PAN Card, Certificate of Incorporation)
Annual Compliance for Limited Liability Partnerships (LLP’s)
- Form 3: Agreement Registration
- Form 8: Statement of Accounts
- Form 11: Annual Return of LLP
How to register the partnership firm?
An application form along with fees is to be submitted to Registrar of Firms of the State in which firm is situated. The application has to be signed by all partners or their agents.
Required Documents for LLP:
- Conclusions from the Annual General Meeting (AGM)
- Profit & Loss Balance Sheet of LLP
- Audit report
- DSC of the Partners
- Incorporation documents (PAN Card, Certificate of Incorporation)