Annual Compliance for Public Limited Company
After Public Limited Company incorporation, next legal complication from ROC (Registrar of Companies) is annual compliances. It’s mandatory for all Public Limited companies to file annual compliances on time as per dates defined by ROC. Failure in filing compliance on time leads to heavy penalties on business.
As per Company Law, every Public Limited Company needs to file annual compliances. Annual compliances for Public Limited Company falls under the Companies Act of 2013 . Annual General meeting must held once a year after 6 months from the end of financial year, but 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. Financial year starts from 1st of April and ends on 31st March.
Public Limited Company Annual compliances consists of below activities
1. Maintain Accounts and Prepare financial statements: – Mandatory at the end of each financial year
2. Annual returns: – Once a year before 30th September. Annual return consists of information and documents that include
- Filing of Financial Statements with ROC
- Shareholding structure of the Company
- Registered Office Address
- Maintenance of Registers
- Compliance Certificate frm CS
- Register of Member
- Company Management
- Shares and Debentures details
- Debt and charge details
- Changes in Directorship
- Details of transfers of securities / share.
- Shareholding structure of the Company
3. Income tax return: – Each Year on or before 30th of September.
4. Annual General Meeting: – Mandatory once a year.
5. Board meetings: – 4 in a year, at least one every quarter.
6. Director reports: – Mandatory once a year.
7. Annual Filing of Forms: – Mandatory once a year.
8. Yearly Forms by Directors: – Mandatory once a year.
Is annual compliances must for a public limited company?
It’s mandatory for all public limited companies to file annual compliance and other tax-related returns. Failing which will lead to heavy penalties or your Company in Defaulter list of ROC – Next step is to understand various implications.
- Avoid monetary penalties
- Build trust & brand loyalty
- Better visibility of operations
- Avoid any legal implications.
- Maintain credibility in the market
Three Easy Steps for Public Limited Company Compliances
Connect to Kaushikii
Provide necessary documents required for compliances & other filing activities.
Our compliances expert will help your private limited company to complete all annual and other mandatory compliances.
Kaushikii Procedure for Public Limited Company Compliances
Step 1: Kaushikii received your request for Public Limited Company compliances
Step 2: We will assign a dedicated resource who is professionally skilled in company compliances, will help you to maintain the compliance for your Public Limited Company. You can get in touch with assigned resource at any point of time for consultation and assistance regarding compliances throughout your journey with Kaushikii.
Step 3: Our resource will help your Public Limited Company to maintain accounts and prepare financial statement for each year.
Step 4: Our resource will collect all the required documents / information and will complete all below mentioned compliances activities for your Public Limited Company.
a) Maintain Accounts and Prepare financial statements
b) Annual returns
c) Annual General Meeting
d) Board meetings
e) Director reports
f) Annual Filing of Forms
g) Yearly Forms by Directors
Step 5: Our resource will collect all the required documents / information and file your Public Limited Company income tax return with ROC (Registrar of Companies) along with the mandatory documents after getting final confirmation from your finance team if required.
Step 6: Our resource will help your Company in accounts audit.
Step 7: Our resource will draft minutes of meetings, notices and will also maintain statutory register.
Step 8: Above 7 steps completes your Public Limited Company compliances under Companies Act 2013 and SEBI (LODR) Regulations 2015.