Annual Compliances of Public Limited Company

After incorporation of Public Limited Company next step is to follow ROC compliances. It is mandatory for all the public companies to comply with the ROC as per the due dates.

Following Compliances are to be done on yearly basis for the public company registered:

  • MIANTENANCE OF BOOKS OF ACCOUNTS AND PREPARATION OF FINANCIAL STATEMENT:

Every Public company registered is compulsorily required to maintain the books of accounts at the end of each financial year. The financial statement prepared once approved by the shareholders in the general meeting is to be filed in Form AOC 4 with the time stipulated.

Books of Accounts shall include all sums of money received, expended by the company, details of sales and purchases of goods, assets and liabilities of the company. However, in case of company involved in production, processing or manufacturing activities then in that case particulars related to utilization of material, labour or any other cost related to the company.

  • ANNUAL RETURN COMPALINCES:

The company incorporated is required to file Annual Return in Form MGT 7 which includes details related to director and shareholders for the period of financial year.

The Annual Return is to be filed on or before 30th September. The Annual Return id the consolidated statement which consist of following:

  • Financial Statement as mentioned above.
  • Details of Shareholding structure, registered office, debt and charges details, change in directorship etc.
  • Maintenance of various registers
  • Compliance Certificate
  • Details of various registers maintained such as register of members share and debenture details
  • INCOME TAX RETURN:

The company is mandatorily required to file its Income Tax return on or before 30th September.

  • Other Mandatory Compliances:

Apart from the above mentioned compliances the company is require to follow the below mentioned compliances also:

  • Holding of Annual general meeting which is to be held once in a financial year for approving the financial statements.
  • Conducting Board Meeting 4 times in a year which means once in every quarter.
  • Filing of the Directors Report which is to be filed once in a year.

As going through above procedure you must have understood that after incorporating the public limited company you have to follow the compliances as listed by the Companies Act 2013 and the relevant act applicable to the company failing which you will be liable to penalty as determined by ROC.