ANNUAL COMPLIANCE OF PUBLIC LIMITED COMPANY
What Are the Annual Compliance for Public Limited Company?
For every Public Limited Company it is mandatory to do annual filling every year as per the Companies Act, 2013. The Annual Filling includes Balance Sheet, P&L Account and other documents.
The Annual Return of MCA is totally different from the Income Tax Return and it’s governed by Ministry of Corporate Affairs.
Annual General Meeting of a newly incorporated company should be held within 18 months from the date of registration or 9 months from the date of closing of the financial year, whichever is earlier.
2nd year onward Annual General Meeting should be held within 6 months from the end of that fiscal year and from second-year Annual returns of the company must be filed latest by 30th September every year.
Documents Required
- Profit and Loss A/C.
- Balance Sheet.
- Director’s report.
- Shareholders details.
- Other documents are required to be filed with registrar of companies.
Time Frame
- Annual General Meeting of a newly incorporated company should be held within 9 months from the date of closing of the financial year, whichever is earlier.
- Within 60 days of AGM, company need to file annual return with the registrar of companies.
Advantages
- Avoid monetary penalties.
- Build trust & brand loyalty.
- Better visibility of operations.
- Avoid any legal implications.
- Maintain credibility in market.