Company Statutory Compliances
Ensuring Legal Integrity under the Companies Act, 2013
At VETRI AUDIT SERVICES PRIVATE LIMITED, we help businesses stay compliant with all statutory requirements under the Companies Act, 2013. Every company registered in India—be it a Private Limited Company, One Person Company (OPC), Public Limited Company, or Section 8 Company—must meet certain regulatory obligations to avoid legal penalties and maintain operational credibility.
We provide end-to-end support in meeting your corporate compliance needs, from incorporation to annual filings and event-based compliances.
Statutory Compliance Categories
Company Incorporation & Post-Incorporation Compliances
Once a company is incorporated, several initial formalities must be completed to begin lawful operations:
| Compliance Requirement | Description |
|---|---|
| INC-20A (Declaration of Commencement of Business) | Mandatory for companies with share capital. Must be filed within 180 days of incorporation. |
| Board Resolution for Bank Account | Required to authorize directors/signatories for operating the company's bank account. |
| First Board Meeting | To be held within 30 days of incorporation. Discusses initial company setup, disclosures, appointments, etc. |
Annual Statutory Compliances
These are routine, yearly requirements that ensure ongoing legal compliance:
| Compliance | Form / Requirement | Due Date |
|---|---|---|
| Board Meetings | Minimum 2 per year for small companies; 4 per year for others. | Throughout the year |
| Annual General Meeting (AGM) | Mandatory for companies other than OPC. | Within 6 months of financial year-end |
| Director Disclosure of Interest | Form MBP-1 to be submitted by all directors. | At first board meeting of the FY |
| Director KYC | Form DIR-3 KYC for each director. | On or before 30th September annually |
| Annual Return Filing | Form MGT-7 / MGT-7A | Within 60 days from AGM |
| Financial Statement Filing | Form AOC-4 | Within 30 days from AGM |
| Statutory Audit & Auditor Appointment | Auditor appointment via Form ADT-1 | Within 15 days from AGM |
| Income Tax Return (ITR) | Annual ITR filing, mandatory even with no income. | By 31st October (or applicable date) |
| Maintenance of Statutory Registers | Includes registers of members, directors, charges, etc. | Ongoing |
Event-Based Compliances
These are triggered by specific company events such as changes in structure, capital, or operations:
| Event | Required Form |
|---|---|
| Appointment/Resignation of Director | DIR-12 |
| Increase in Authorized Share Capital | SH-7 |
| Allotment of Shares | PAS-3 |
| Change in Registered Office Address | INC-22 |
| Share Transfers | SH-4 (instrument), recorded in MGT-7 |
| Creation of Charge (Loan) | CHG-1 |
| Satisfaction of Charge | CHG-4 |
Other Key Statutory Requirements
| Requirement | Applicability |
|---|---|
| CARO Reporting | Applicable to companies with certain turnover/loan criteria under Companies Auditor's Report Order (CARO), 2020. |
| CSR (Corporate Social Responsibility) | Required for companies meeting net worth, turnover, or profit thresholds as per Section 135. |
| Internal Audit | Applicable for specified classes of companies based on turnover and borrowing. |
| Secretarial Audit | Compulsory for listed and large public companies under Rule 9 of Companies (Appointment and Remuneration of Managerial Personnel) Rules. |
| Books of Accounts | Must be maintained and preserved at the Registered Office in prescribed formats. |
Consequences of Non-Compliance
Non-compliance with statutory provisions can attract:
- Monetary Penalties: Ranging from ₹50,000 to ₹5,00,000 or more
- Daily Fines: For continuing defaults
- Director Disqualification: Under Section 164 of the Companies Act
- Strike-off of Company: Initiated by the Registrar of Companies (ROC)
Compliance Snapshot Table
| Compliance | Form | Due Date |
|---|---|---|
| Commencement of Business | INC-20A | Within 180 days of incorporation |
| Auditor Appointment | ADT-1 | Within 15 days from AGM |
| Annual Return Filing | MGT-7 / MGT-7A | Within 60 days from AGM |
| Financial Statement Filing | AOC-4 | Within 30 days from AGM |
| Director KYC | DIR-3 KYC | On or before 30th September annually |
| Income Tax Return | __ | 31st October or as per company size |
Why Choose Vetri Audit Services?
At VETRI AUDIT SERVICES PRIVATE LIMITED, our experts offer:
- Timely filing and updates on compliance due dates
- ROC representation and documentation
- Drafting of resolutions, notices, and minutes
- Support in audits and scrutiny cases
- Customized compliance packages for start-ups, SMEs, and large enterprises
Let us help your business stay legally compliant and penalty-free.
Get in touch today to schedule your first compliance review!
Contact us today for a consultation!
