Company Compliance
Company Compliance Services in India
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What Is Company Compliance?
Company compliance refers to the legal, financial, and regulatory obligations that a company must fulfil under the applicable laws and regulations governing its operations.
In India, companies incorporated under the Companies Act, 2013, must meet various requirements relating to corporate governance, financial reporting, statutory records, and filings with the Registrar of Companies (ROC).
Depending on the company’s structure, size, activities, and circumstances, additional requirements may arise under tax, employment, and industry-specific laws.
- ROC and MCA Compliance
- Accounting and Financial Compliance
- Tax Compliance
- Event-Based Compliance
The specific obligations and deadlines depend on the company and the relevant legal provisions. Identifying these requirements early helps businesses plan their filings and maintain proper records.
Company Compliance Services Offered by CA India
CA India provides assistance across key areas of corporate compliance, helping businesses organise their obligations and manage applicable filings.
Annual ROC Filing
Get assistance with preparing and filing applicable annual returns and financial statements, including Form AOC-4, Form MGT-7, and Form MGT-7A for eligible OPCs and small companies, based on the company’s classification and requirements.
Director and Auditor Compliance
Manage applicable filings for director appointments, resignations, directorship changes, director KYC, and auditor appointments, including DIR-12, DIR-3 KYC, and ADT-1, as required.
Event-Based Company Filings
Get assistance with statutory filings for corporate changes, including registered office changes, director or KMP updates, share allotments, capital changes, MOA/AOA amendments, resolutions, and required disclosures.
Accounting & Financial Statements
Maintain organised financial records and prepare financial statements to support applicable statutory reporting and filing requirements.
Income Tax & GST Support
Businesses may require assistance with income tax returns, GST returns, TDS filings, and related documentation. These requirements can be assessed according to the company’s activities and applicable registrations.
Ongoing Compliance Coordination
Organise compliance deadlines, required documents, filing status, and upcoming obligations to help your business maintain a more structured compliance process.
Discuss Your Company’s Compliance Requirements
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Annual Compliance Requirements for Companies
Annual compliance is an essential part of corporate governance. Companies must identify the filings and internal procedures applicable to their legal structure and financial year. The following are common compliance activities for companies in India.
Annual General Meeting (AGM)
The meeting generally addresses matters such as approval of financial statements, auditor-related matters, & other applicable shareholder decisions.
Financial Statement Filing-Form AOC-4
Companies must file their financial statements with the ROC using the applicable form. The filing deadline generally depends on the AGM date and the applicable provisions.
Annual Return Filing- Form MGT-7 or MGT-7A
The applicable annual return records prescribed information about the company, its directors, shareholders, and other relevant particulars.
Auditor Appointment & Filing-Form ADT-1
Companies must comply with the applicable auditor appointment and reporting requirements, including filing Form ADT-1 where required.
Board Meetings & Statutory Records
Companies must comply with applicable requirements concerning board meetings, meeting notices, minutes, resolutions, and maintenance of statutory registers.
Director Must Complete KYC
Directors must complete the applicable DIN KYC requirements within the prescribed timeframe.
Books of Account & Financial Reporting
Companies must maintain appropriate accounting records and prepare financial statements in accordance with the requirements applicable to them.
Event-Based and Other Regulatory Compliance
Annual filings are only one part of company compliance. Certain transactions and changes create additional obligations that must be addressed within the applicable statutory deadlines.
Event-Based Company Compliance
Additional filing assistance may be required for director or auditor changes, registered office changes, share allotments, capital changes, MOA/AOA amendments, mergers, restructuring, and other significant corporate transactions, depending on the event and applicable requirements.
Tax and Financial
Compliance
Additional compliance support may include income tax returns, TDS/TCS compliance, GST registration and returns, tax audits, advance tax, and other applicable tax payments, depending on the company’s activities and registrations.
Employment and Industry-Specific Compliance
Businesses may also have obligations relating to provident fund (PF), employee state insurance (ESI), professional tax, labour laws, or sector-specific regulations, depending on their workforce, location, and business activities.
Frequently Asked Questions
Is company compliance mandatory in India?
Companies incorporated under the Companies Act, 2013, must meet the statutory requirements applicable to them. These may include annual filings, financial reporting, maintenance of records, and event-based disclosures. Specific obligations vary according to the company and the applicable law.
What are the annual compliance requirements for a Private Limited Company?
Common requirements include preparing financial statements, holding an AGM where required, filing the applicable annual return and financial statements, maintaining statutory records, and meeting director and auditor-related obligations. Additional requirements may apply depending on the company.
What are Forms AOC-4 and MGT-7?
Form AOC-4 is generally used to file a company’s financial statements with the ROC. Form MGT-7 is used for the applicable annual return. Eligible One Person Companies and small companies may use Form MGT-7A under the applicable rules.
What happens if a company misses a compliance deadline?
Depending on the requirement and circumstances, delayed or missed filings may result in additional filing fees, statutory penalties, or other legal consequences. The appropriate corrective action depends on the specific default.
Does a company with no business activity still need to file annual returns?
A company with no business activity may still have statutory filing and reporting obligations. The requirements depend on its legal status, financial year, applicable exemptions, and other circumstances. Dormant status does not automatically eliminate every compliance obligation.
What is event-based company compliance?
Event-based compliance refers to statutory filings or actions triggered by specific events, such as appointing a director, changing the registered office, allotting shares, or amending company documents.
Does company compliance include GST and income tax filing?
These can be included in a broader compliance arrangement, but they are distinct from ROC filings. Whether GST returns, income tax returns, TDS filings, or other tax services are included depends on the service scope and the company’s obligations.
How much does company compliance cost?
The cost depends on the company’s legal structure, number and type of filings, financial records, outstanding compliance requirements, and professional assistance needed. Contact CA India for pricing based on your company’s requirements.
Can CA India help with overdue company filings?
Assistance may be available for reviewing outstanding filings, identifying the applicable requirements, preparing documents, and completing eligible filings. The available options and potential additional fees depend on the nature and duration of the non-compliance.