Compliance is essential for private limited companies in India to maintain legal standing and avoid penalties. Asktrix provides comprehensive support for all compliance requirements, ensuring your company meets all regulatory obligations efficiently and accurately.
Private limited companies must comply with various acts and regulations:
Companies must prepare comprehensive financial statements including:
All statements must comply with Schedule III of the Companies Act, 2013 and Indian Accounting Standards (Ind AS).
Companies must conduct AGM within 6 months of the end of financial year to:
Every private limited company must undergo annual statutory audit as mandated under the Companies Act, 2013. Asktrix ensures audit standards are met and provides guidance throughout the audit process.
Companies must file annual financial statements with the Registrar of Companies (ROC) within 30 days of the AGM using Form AOC-4.
Annual return must be filed with ROC within 60 days of the AGM, containing details about company's shareholding, management, and other statutory information.
Companies must file monthly GST returns including GSTR-1 and GSTR-3B. Asktrix provides comprehensive assistance for GST compliance and filing.
Quarterly TDS returns must be filed using Form 24Q and 26Q. Asktrix offers tax estimation services to ensure accurate TDS calculations.
Companies must estimate and pay advance tax in quarterly installments based on projected income.
Find answers to common questions about private limited company compliance, eligibility, documents, process, benefits, costs, and timelines.
Compliance is mandatory under Indian law to maintain legal standing, avoid penalties, ensure transparency, and protect stakeholders' interests. Non-compliance can result in hefty fines and legal consequences.
Key deadlines include: AGM within 6 months of financial year end, AOC-4 filing within 30 days of AGM, MGT-7 filing within 60 days of AGM, and quarterly GST/TDS returns.
Yes, every private limited company must undergo annual statutory audit by a qualified Chartered Accountant, regardless of turnover or profit levels.
ROC filing fees vary based on authorized capital and filing type. AOC-4 and MGT-7 fees typically range from ₹200 to ₹600 depending on company size.
Late filing penalties can be up to ₹1,000 per day for ROC forms, plus additional fees. GST late filing attracts ₹200 per day penalty, and TDS late filing has ₹200 per day penalty.
Yes, AGMs can be conducted through video conferencing or other audio-visual means, subject to certain conditions and proper documentation.
Registered office address change requires board resolution, shareholder approval, and filing Form INC-22 with ROC within 30 days of change.
Yes, companies must maintain minutes of all board meetings and general meetings, properly signed and preserved for inspection.
Asktrix provides comprehensive compliance calendar management, automated reminders, and systematic tracking to ensure no deadlines are missed.
Mandatory records include books of accounts, registers of members/directors/loans, minutes of meetings, statutory registers, and employee-related records.
Yes, statutory audit is mandatory for all private limited companies regardless of revenue, even if the company has zero income or is dormant.
Companies with turnover above ₹20 lakhs must register for GST and file monthly returns (GSTR-1, GSTR-3B) and annual return (GSTR-9).
Advance tax must be paid in quarterly installments: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15.
Yes, Asktrix provides complete GST compliance services including registration, monthly return filing, reconciliation, and annual return preparation.
Form MGT-7 is the annual return form that contains comprehensive information about company's shareholding, management, and other statutory details.
Yes, companies with employees must maintain payroll records, ESI records (if applicable), and comply with labor law requirements.
TDS compliance requires PAN details of deductees, TDS certificates (Form 16/16A), quarterly returns (24Q/26Q), and annual information return (AIR).
Failure to conduct AGM within prescribed time attracts penalties up to ₹5 lakhs for company and ₹1 lakh for officers in default, plus additional daily penalties.
Asktrix provides expert guidance, timely compliance, penalty avoidance, efficient record-keeping, and peace of mind, allowing companies to focus on business growth while ensuring regulatory compliance.
Ensuring smooth compliance for your private limited company with Asktrix provides not only legal adherence but also ongoing support for growth and success. Our comprehensive approach ensures your company meets all regulatory requirements efficiently and accurately.