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Preface: This post was originally published in 2022 and has been updated on June 05, 2025, to provide you with the most current and accurate information.
Once a company has been registered with the Registrar of Companies (RoC), it must fulfill certain compliance requirements, such as filing annual returns, maintaining statutory registers and conducting board meetings in a timely manner.
Failure to comply with these requirements can result in penalties and legal repercussions. In this blog post, we will provide you with the compliance checklists of companies in India.
Herein, we shall outline the compliance checklists for various business models in India one by one:
A private limited company registered in India must ensure it stays compliant with the following requirements:
Once a private limited company has been registered with the Registrar of Companies (RoC), it is mandatory to obtain the commencement of business certificate. This certificate must be obtained by RoC within the prescribed time i.e., within 180 days of incorporation of the company. To obtain this certificate, Form 20A needs to be filed via MCA portal.
Failure to obtain the business commencement certificate shall result in a penalty of Rs. 50,000 for the private limited company and Rs. 1000 per day for directors each day in case of default.
All the Private Limited Companies must appoint statutory auditors within 30 days of company incorporation. This is a mandatory requirement under the Companies Ac 2013 and is documented in ADT-1.
In case a Pvt Ltd Co fails to appoint a statutory auditor, they will not be allowed to conduct their business and also attract a penalty of Rs. 300 per month.
A Private Limited Company shall hold a board meeting within the first 30 days of the incorporation of the company. In this meeting, certain points need to be discussed including the following:
Bank account opening to deposit share capital amount that the shareholders receive.
Form SH-1 for issue of share certificates signed by a director and company secretary.
Other relevant issues.
Financial statements for pvt ltd companies meeting certain criteria must be filed in the Extensible Business Reporting Language (XBRL) format. Specifically, pvt ltd companies with a paid-up share capital exceeding Rs. 5 crores or a turnover exceeding Rs. 100 crores are required to file their financial statements with the Registrar of Companies (ROC) in e-form AOC-4 XBRL. The due date for the same is within 30 days of the annual general meeting.
Every year, all the directors of a private limited company having a Director Identification Number (DIN) must file their KYC details by 30th September. For this, they must file e-form DIR-3 KYC with the Ministry of Corporate Affairs.
The filing of Deposit Returns must be done using Form DPT 3. Basically, the DPT 3 Form is a return of deposits that pvt ltd companies must file to furnish information about deposits and/or outstanding receipt of loan or money other than deposits. The due date for filing Form DPT 3 is June 30th each year.
The Companies Act mandates that a notice of Annual General Meeting (AGM) be given to all the members of the company at least 21 days before the meeting takes place. This notice must be given in writing or in a digital format and must contain details like venue, date, time and agenda.
Every pvt ltd co registered with the RoC, in accordance with Companies Act 2013, must file the company’s annual return for every financial year via Form MGT-7/7A. It is the company’s responsibility to furnish the form within 60 days of AGM.
Private companies registered in India and engaged in profit-making activities are required to file Income Tax Return using Form ITR-6. The due date for filing ITR is October 31st of the assessment year.
Mentioned below are certain requirements that must be fulfilled by every Limited Liability Partnership in India:
An LLP must file an annual return using Form 11. This form is a summary of the partners who make up the LLP and shows whether there is any change in the company’s management. An LLP must file Form 11 before 30th May every year.
In India, the LLPs are required to get their accounts audited if their annual turnover crosses Rs. 40 lakhs or their total contribution from partners crosses Rs. 25 lakhs. This is a mandatory requirement under the LLP Act 2008, and ensures financial transparency and compliance with the law.
The Ministry of Corporate Affairs requires Limited Liability Partnerships to submit a Statement of Accounts and Solvency once a year by filing Form 8. This form provides information regarding the LLP's financial situation and solvency status. Every fiscal year, on 30th October, Form 8 must be filed with MCA. In case of late filing, the MCA shall impose penalties.
Limited Liability Partnerships must file their ITR by using Form ITR-5. The due date for filing this form is 31st July. However, if the LLP is subject to a tax audit, the deadline for filing is extended to 30th September. The ITR 5 Form details the income, expenses and tax liability of the LLP.
The compliance checklist for One Person Companies in India is as follows:
Like other companies registered under the Companies Act 2013, One Person Companies also need to file Form 20A with the MCA to secure a business commencement certificate. The form must be filed within 180 days of incorporation to declare the readiness of OPC to initiate business operations.
One Person Companies must hold their first board meeting within the first 30 days of the company incorporation. Afterward, they must hold at least one board meeting in each half of the calendar year, with a minimum gap of 90 days between each meeting. This is a mandatory requirement under Section 173 of the Companies Act 2013.
Every OPC in India must file annual returns with the Registrar of Companies. For this, they must file Annual Return Form MGT-7 by 29th November every year. This form provides details about shareholders, directors and the activities of the company. It helps the Registrar of Companies to monitor the OPC’s compliance status.
OPCs in India must file audited financial statements every year. For this, they must file Form AOC 4 with the Registrar of Companies. This form provides information about the company's financial statements for the previous financial year, including the balance sheet, profit and loss account, cash flow statement, notes to the financial statements, and the report of the auditor. Every OPC must properly file this form within 30 days of the Annual General Meeting.
Directors of One Person Companies possessing a valid DIN need to submit their KYC details annually. For this, they must file e-form DIR-3 KYC with the Ministry of Corporate Affairs by 30th September every year.
To ensure compliance with the legal requirements, a One Person Company must maintain statutory registers like registers of members, directors and share certificates. An OPC must also maintain a register of charges to record charges, such as mortgages and loans, registered against the company's assets.
OPCs are exempt from statutory audit if their turnover is below Rs. 2 crores. However, they may still need to maintain books of accounts. When an OPC’s turnover exceeds Rs. 2 crores, it must mandatorily undergo a statutory audit.
Just like private companies, OPCs must also file ITR using ITR Form 6. The due date for filing this form is October 31st of AY.
In Indian laws, a proprietorship firm isn’t a separate legal entity from its owner a.k.a proprietor. Therefore, the compliance requirements for a sole proprietorship are minimal. Here is the compliance checklist for sole proprietorship firms in India:
Every year, the sole proprietor running the business is required to submit an income tax return. Since the firm and the proprietor are regarded as one and the same, the processes for filing tax returns are comparable to those for filing an individual income tax return. To file a tax return for a sole proprietorship, the proprietor needs to file ITR-3 form.
Sole proprietorships registered under the GST system are mandated to file a monthly return known as GSTR 3B. This return provides a summary of the proprietorship firm’s monthly sales as well as purchases.
As per the latest GST regulations, a late fee of Rs. 50 per day (Rs. 25 each under CGST and SGST) is charged for delayed filing of returns, up to a maximum of Rs. 5,000. Additionally, an interest of 18% per annum is levied on any unpaid tax amount.
Here are certain compliance requirements that a partnership firm, registered under Indian Partnership Act 1932, must comply with:
Partnership firms are subject to taxation at a flat rate of 30%. However, it is important to note that each partner’s share of profit or loss is reflected in their ITRs. The partners are taxed as per individual income tax slabs. In India, this is the only annual compliance a partnership firm needs to comply with.
For the purpose of filing ITR, the partnership firms have two forms. One form is ITR 4 form, which is for partnership firms having a total income of up to Rs. 50 lakh and income from business and profession recorded on a presumptive basis. The other form is ITR 5 form, which is mandatory for partnership firms that must undergo a tax audit, generally those with annual turnover more than Rs. 1 crore in the previous financial year.
If a firm has an annual turnover exceeding Rs. 40 lakhs threshold limit for goods, it must mandatorily secure GST registration. GST-registered firms must regularly file their GST returns like GSTR-1 for supplies, GSTR-3B for consolidated return and GSTR-9 for filing annual returns. In case a partnership firm has opted for the composition scheme, it may need to file GSTR-4 instead.
Partnerships that function as deductors with a valid TAN must deduct TDS on specific payments that exceed the threshold limits. By specific payments, we mean payments like rent, interest and professional fees. The firms must deposit the TDS challans with the government within the prescribed due dates.
For TDS return filing, different forms are required depending on the nature of payment. For instance, Form 24Q is filed for salary and Form 26QB is filed for immovable property transactions.
In case of any changes in the partnership deed clauses for addition or removal of partner(s), capital contribution modifications or dissolution, the Registrar of Firm must be notified within 90 days.
Other changes for which the Registrar of Firm must receive an intimation include the following:
A change in the firm's name, address, or business type
Opening or shutting down a branch
Updates to a partner’s details (like their name or address)
Any changes to the partnership agreement
If a partnership firm's business turnover exceeds Rs. 1 crore in the previous financial year, a tax audit becomes mandatory. This audit must be conducted by a certified Chartered Accountant. During the audit, the firm’s financial statements are reviewed to ensure they comply with all applicable tax regulations.
Compliance requirements differ based on the type of business structure. For example, an LLP must file Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return) annually. The partnership firms in India must file GST returns, TDS returns and conduct tax auditing among other compliance requirements. In the case of a proprietorship, the proprietor and the business are treated as a single entity for tax purposes, and the income is filed under the individual's PAN. Pvt ltd companies and OPCs must comply with requirements such as filing annual returns, maintaining statutory registers, holding board/annual general meetings and ensuring timely ITR filing.
If you need assistance in meeting compliance requirements laid down by the MCA, Income Tax Department and other regulatory bodies, get in touch with Registrationwala’s business compliance experts today!
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