Private Limited Compliance

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    Private limited companies need to comply with a lot of financial laws and regulations. It’s vital to manage all these compliances efficiently for the smooth functioning of the business.

    PVT as Separate Legal Entity

    As per the law, every Private limited Company is treated as a separate legal entity. These companies are compliant to ROC(Registrar of the Company) that is managed by the Ministry of Corporate Affairs. Companies have to be fully compliant with all the rules and regulation formulated by the Ministry as below.


    Bookkeeping includes a recording of financial transactions that takes place in the Company during a fiscal year. It includes purchase, sales, payment, receipts, vouchers, minutes, and deeds. As per the law, a Private limited company must maintain its books of account and preserve them for any future audit or investigation.

    Preparing Financial Statement

    Private Limited Companies have to prepare and maintain all their financial statements like income statement, Cash statement, Profit and Loss Statement, and Balance sheet.

    Filing of ADT-1

    Every Company registered under Companies Act 2013, has to appoint a certified Auditor within 60 days of the incorporation of the Company. ADT-1 will be filed for the first year on the appointment of such an accredited auditor. Without a certified Auditor, no business will be allowed to be conducted, and a penalty of INR 10,000 will be levied on the Company.


    Private Limited Companies have to get their firm audited by a certified auditor like CA(chartered accountant) or CS(Company Secretary). The report of this audit has to be submitted to the Government. This helps the Government to understand the financial condition of the Company.

    Income Tax Return Filing

    As per the law, companies registered under ROC are mandated to file their Income Tax returns even if they are dormant or have no transaction throughout the year. Any failure to file an income tax return before the due date will attract the penalty of INR 10,000. The due date of filing the Income-tax return for a Private Limited Company will be 30th September.

    MCA form MGT-7

    Private Limited Companies registered under the Company’s act 2013 has to file this return within 60 days of the annual general meeting.

    Annual ROC Returns Filing

    E-filing of audit report along with books of account is compulsory for all the Companies registered under ROC. Any failure to do so might attract a penalty.

    MCA form AOC-4

    Every registered Private limited firm has to submit this form on or before 30th November. This form includes Director Report and Profit and Loss Statement. Failure to furnish this form before the due date attracts a penalty of INR 200 per day.

    Filing of DIR-8

    For every Private Limited Company registered under the Companies act 2013, it’s a director has to file Company disclosure and disqualification for every financial year.


    Frequently asked questions

    As per the company’s law 2013, the Ministry of Corporate Affairs is Regulatory authority.
    • Appointment of Auditor • Statutory Audit of Accounts • Filing of Annual Return (Form MGT-7) • Filing of Financial Statements (Form AOC-4) • Holding Annual General Meeting as mandated by the law • Preparation of Director’s report
    No, ITR is submitted to the Income Tax Department while the ROC return is submitted to the Ministry of Corporate Affairs.

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    Propel your business with Probal Consulting Group. Kick-start your business with our full-suite accounting and legal services.
    Every firm, no matter how big or small must maintain their accounts regularly to scale higher in the business. Improper maintenance of accounts can lead to a financial disaster, resulting in severe consequences.
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