Company compliances
Company compliances in Pune
1. Return of Deposits/loans:
Every Company is required to file return of Deposits/loan with ROC in the form of DPT-3 on or before 30th June.
2. Filing of Director’s Identification Number (DIN) KYC:
Every person who has been allotted a DIN is required to file form DIR-3 KYC with the ROC for submitting his/her KYC details for every Financial Year. A failure to file form DIR-3 KYC will result into deactivation of DIN and a penalty of Rs 5,000/- upon late filing.
3. Filing of Income Tax:
Every company is required to get its accounts audited by an auditor and file its Income Tax return with the Income tax department for every financial year.
4. Filing of audited financials:
The company is also required to file its audited financials and Director’s report with the ROC in Form AOC-4 within 30 days of its Annual General Meeting. A failure to file form will attract penalty of Rs. 100.00 per form per day.
5. Filing of Annual return:
Whereas, the company has to file its Annual return in form MGT-7/MGT-7A within 60 days of its Annual General Meeting. A failure to file form will attract penalty of Rs. 100.00 per form per day.
What is the Company Compliance
Company compliance involves ensuring that a business meets all legal, regulatory, and tax requirements, such as filing returns, paying taxes, and maintaining records. It helps prevent legal issues, avoid penalties, and enhance business credibility. Adhering to these obligations ensures smooth operations and protects a company’s long-term growth.
Importance of company compliance
- Ensures adherence to legal and regulatory standards.
- Prevents costly fines and legal penalties.
- Maintains business credibility and trust with stakeholders.
- Facilitates smooth operations and financial transparency.
- Protects against tax and legal disputes.
- Supports long-term growth and sustainability.