Annual Compliances of Producer Company

Audited Balance Sheet
Audited Profit& loss account
Audited Financial Statement
Company ITR filing
ROC forms (Annual Filing)


What is Producer Company?

A Producer Company is an element getting a charge out of a different personality which requires keeping up its dynamic status through the standard recording with MCA. For each organization, it is mandatory to document a yearly return and examined budget summaries with MCA for each money related year. The RoC recording is obligatory regardless of the turnover, whether it is zero or in crore. Whether a single transaction is undertaken or none, annual compliances for Private Limited are mandatory for every registered company. Both the forms are filed to report the activities and financial date for concerned Financial Year. The due dates for yearly annual filing of a Company depend on the date of the Annual General Meeting. The continuous failure may lead to the removal of the company’s name from RoC’s register, including disqualification of directors. Also, it has been observed that MCA has actively taken bold steps for dealing with any such failures.

Mandatory Annual Company Compliance - (Includes following services)

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Auditor Appointment.

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Preparation & Filing of Form ADT-1 (Auditor Appointment).

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Filing of e-form INC-20A.

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Preparation of Balance Sheet,Preparation of P & L Accounts


      
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Audit Report

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Director's Report



Extract of Annual Returns & Financial Statements.

Every company is required to file its Annual Return with Registrar of Companies within 60 days of Annual General Meeting in E-Form MGT-7. A company having turnover of INR 50 Crore or more shall be certified by a Practicing CS in Form MGT-8.

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E-form: AOC-4

File Financial Statement: i.e Balance Sheet along with Statement of Profit and Loss Account and Directors’ Report

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E-form: MGT-7

File Annual Return within 60 days of holding of AGM for the period 1st April to 31st March

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Use of DSC of Auditor in Form AOC- 4.

Every Company is required to file its Financial Statements within 30 days of its Annual General Meeting with Registrar of Company in E-Form AOC-4. The same shall be digitally signed by one director and certified by CA/CS/Cost Accountant in Practice.

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Preparation of 04 Minutes of Board Meeting.

Section 118 (10) of the Companies Act, 2013 requires every company to observe Secretarial Standards with respect to General and Board Meetings specified by the Institute of Company Secretaries of India (ICSI) and approved as such by the Central Government.


     
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Income Tax Returns (Company)

All companies registered in India are required to file income tax returns each year on or before September 30th. Under the Income Tax Act, company tax return filing falls under two categories, namely domestic company or foreign company. Domestic company means an Indian company wherein the income is liable to tax and companies that have made arrangements for the declaration and payment of dividends within India. Companies registered with the Ministry of Corporate Affairs like Private Limited Company, One Person Company or Limited Company are classified as a domestic company Share Certificate (for 2 Directors).

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Preparation of 7 Registers.

Registers to be maintained under the Companies Act, 2013

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Preparation of Minutes of AGM

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Form MBP- 1

Every Director of the Company in First Meeting of the Board of Director in each Financial Year needs to disclose his interest in other entities by filing the form. Fresh MBP-1 needs to be filed, whenever there is change in his interest from the earlier given MBP-1

    
    
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Form DIR – 8

Every Director of the Company in each Financial Year has to file with the Company disclosure of non-disqualification *Government Fee (Approx Rs.1000 Per Financial Year) for ADT-1, AOC-4 & MGT-7 Excluded.




Advantages of Annual Compliances

There are numerous benefits of a OPC company such as limited liability protection, easy to raise fund from venture capitalist and continuous existence while the confidence of the community come at the cost of increased annual compliance. It is mandatory for business owners to comply with Companies act, Income tax, GST & State Laws. In addition to the ROC compliances, Companies have to submit income tax returns every year by 30th September. From the year 2018, the compliance requirement has been increased now for OPC companies. There are various advantages of a OPC company, for example, limited liability protection, simple to raise support from financial speculator and ceaseless presence while the certainty of the network come at the expense of expanded yearly consistence. It is required for entrepreneurs to comply with Companies act, Income Tax Act, GST and State Laws. Notwithstanding the ROC compliances, Companies need to submit annual filing forms each year by 30th September. From the year 2018, the consistence necessity has been expanded now for OPC Companies. We guarantee to meet the corporate compliances on time as and when they are expected.

BASIC

For StartUp Company

0-10 lakhs

1. Book-Keeping

2. Prepration Of Balance Sheets

3. Prepration Of Profit & Loss Account

4. Prepration Of Notes

5. Income Tax Return Filing

6. MCA Filing

7. Minutes

8. Directors Report

9. 1 Year Dedicated Compliance Maneger Support

MEDIUM

For Turn Over 0-25 Lakhs

INR @ 14,999

1. Book-Keeping

2. Prepration Of Balance Sheets

3. Prepration Of Profit & Loss Account

4. Prepration Of Notes

5. Income Tax Return Filing

6. MCA Filing

7. Minutes

8. Directors Report

9. 1 Year Dedicated Compliance Maneger Support


STANDARD

For Turn Over 0-50 Lakhs

INR @ 19,999

1. Book-Keeping

2. Prepration Of Balance Sheets

3. Prepration Of Profit & Loss Account

4. Prepration Of Notes

5. Income Tax Return Filing

6. MCA Filing

7. Minutes

8. Directors Report

9. 1 Year Dedicated Compliance Maneger Support


PREMIUM

For Turn Over 0-1 CR

INR @ 29,999

1. Book-Keeping

2. Prepration Of Balance Sheets

3. Prepration Of Profit & Loss Account

4. Prepration Of Notes

5. Income Tax Return Filing

6. MCA Filing

7. Minutes

8. Directors Report

9. 1 Year Dedicated Compliance Maneger Support

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