All companies registered in India like private limited company, one person company, limited company,
and section 8 company must file MCA annual return and income tax return each year. Before filing annual
return, the company must conduct an Annual General Meeting at the end of each financial year. For newly
incorporated Companies, the Annual General Meeting should be held within 18 months from date of incorporation
or 9 months from the date of closing of financial year, whichever is earlier. Subsequent Annual General
Meetings should be held within 6 months from the end of that financial year. In India, normally the financial
year starts on April 1st and end on 31st March. So a Company's annual return would be due on or before September 30th.
In addition to MCA annual return, companies must also file income tax return irrespective of income, profit or loss.
Hence, even dormant companies with no transactions are required to file income tax return each year.
Private limited companies, limited companies and one person companies would be
required to file Form ITR -6. The due date for filing income tax return for a company is on or before the 30th of September.
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.
Companies registered in India after November 2019 and having a share capital are required to obtain commencement of business certificate before commencing any business or exercising any borrowing powers. The commencement of business certificate must be obtained within 180 days of incorporation of the company. Failure to obtain commencement of business certificate will lead to a penalty of Rs.50,000 for the company and a penalty of Rs.1000 per day for the Directors for each day of default.
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.
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.
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.
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.
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.
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