MCA Guidelines for Accounting and Auditing for Private Limited Companies in Indiranagar

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In Pvt Ltd Company Registration in Indiranagar as you see that you have registered and running your private limited company, now it’s time to meet the compliance requirements to warranty safe operations of your business. Here in this article, we will be explaining in step by step what are the accounting and auditing guidelines that are mandatory for private limited companies as set by the Ministry of Corporate Affairs (MCA).


Despite the nature or size of the business, each private limited company must get its accounts audited by chartered accountants before the end of every financial year. This is the procedure of managing the compliances in addition it includes the selection of an auditor. The auditor will evaluate the records and produce Audit report and audited revenue reports which they will they document with the Registrar of Companies.



Here we have explained in detail a portion of the regular compliances which a private limited company needs to follow mandatorily:


Appointment of Auditor: Pvt ltd registration consultants in Indiranagar an Auditor will be allocated for five years and form ADT-1 should be filed. The primary Auditor will be assigned within one month from the date of incorporation of the company.

Statutory Audit of Accounts: Every corporation will organize its Accounts and get the identical reviewed by a Chartered Accountant by the end of the financial year mandatorily. The auditor will provide an audit report or the record and the evaluated fiscal statements to document it with the Registrar.

Filing of Annual Return (Form MGT-7): All private limited companies are mandatorily essential to submit a document on their yearly return within 60 days of the period of organizing of the annual general meeting (AGM). Annual Return will be from the period of 1st of April to 31st March.

Documenting of Financial Statements (Form AOC-4): The organization must have the statements of its balance sheet along with the declaration of loss and profit account and director report in this form within the period 30 days of conducting the annual general meeting (AGM).

 Organizing Annual General Meeting: Every private limited company must arrange an AGM in each planned year. Organizations and companies are essential to hold their AGM within six months before the fiscal year ends.

 Arranging Directors’ Report: Directors’ Reports will be raised with a notice of all the data and documents required under Section 134.


Annual RoC Filings

Pvt ltd registration service provider in Indiranagar Private Limited Companies must file and complete the annual accounts and returns with details of the shareholders, executives, and so on to the Registrar of companies. Such compliances are required to be made at least once a year. As a portion of the annual filing, the partnering forms are also should be documented along with the ROC:


Form MGT-7 (Annual Return): Every private limited company must mandatorily file and complete their annual returns within 60 days of having the Annual General Meeting. Annual Return will be for the time frame 1st April to 31st March.

Form AOC-4 (Financial Statements): Every private limited company must mandatorily provide the details and documents of the Profit and Loss Account and Director Report in AOC-4 form within 30 days of having the Annual General Meeting.

Directors’ Report

A Director’s report is a fiscal document that has to be filed on or before the financial year ends. All directors have to disclose the details of their designated position as directors in different organizations. And all other details and records should be submitted in paperwork in a precise Director’s Report.


 Income Tax Compliances

Estimation and quarterly payment of advance tax

Documenting or recording the income tax returns (Tax has to be paid at a rate of 30% in addition to     

Education Cess)

Tax Audit – Compulsory if the business, turnover, or gross revenue of a business exceeds more than 1 crore rupees in the previous year applicable to the evaluation year.


Tax audit report filing

 Maintenance of statutory registers and records

A private limited company is required to keep up distinct authorized records and registers as it is essential by the Company law, for example, register of members, register of shares, register of shares, and so on. Apart from this, merger documents or records of the company, resolutions of the meetings of the Board of Directors, Minutes of the Board Meetings and Annual General Meeting, etc also need to be conserved by the Company.


Such records are to be preserved at the registered office, and they will be open for inspection to its members during working hours. In addition, the books or documents of account of each organization recognizing with a time of at least eight financial years should be conserved and sustained in great control.



If a company does not stick to the guidelines and standards of the Companies Act, at that time the company and each official who is in default will be guilty with the penalty for the period for which default proceeds. In case there will be a delay in any filing, penalties may be imposed by the MCA.


How to Apply for PRIVATE LIMITED COMPANY in Indiranagar?


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