Private Limited Company Compliance in India for FY 2024–2025
Running a Private Limited Company (Pvt Ltd) in India offers numerous advantages—credibility, limited liability, access to funding, and ease of expansion. However, these benefits come with a responsibility to follow statutory compliances under the Companies Act, 2013, the Income Tax Act, 1961, and other applicable laws.
For the Financial Year 2024–2025, companies need to be vigilant about their filing deadlines, tax obligations, and annual compliances to avoid penalties. This article provides a detailed overview of the key compliances for Pvt Ltd companies in India, deadlines, tax slabs, and important updates.
1. Mandatory Annual ROC (Registrar of Companies) Compliances
Every Pvt Ltd company, whether operational or not, must file specific returns with the Ministry of Corporate Affairs (MCA).
a) Form INC-20A (Commencement of Business)
- Applicable to companies incorporated after 2019.
- Must be filed within 180 days of incorporation.
- A declaration that the company has received the paid-up share capital.
b) Appointment of Auditor (Form ADT-1)
- Filed within 30 days of incorporation.
- An auditor must be appointed for a 5-year term.
c) Form DIR-3 KYC
- Every director must complete KYC by 30th September 2025.
- Failure results in deactivation of DIN.
d) Board Meetings
- Minimum of 4 board meetings per year, with a gap of not more than 120 days between two meetings.
- Minutes of meetings must be maintained.
e) Annual General Meeting (AGM)
- Pvt Ltd companies (with more than 2 members) must hold an AGM once a year.
- The first AGM must be conducted within 9 months from the end of the first financial year.
- Subsequent AGMs must be conducted within 6 months from the end of the financial year, but not later than 15 months from the last AGM.
f) Annual Return (Form MGT-7)
- Due by 30th November 2025 (60 days from AGM).
- Contains details of shareholders, directors, shareholding pattern, etc.
g) Financial Statements (Form AOC-4)
- Due by 30th October 2025 (30 days from AGM).
- Includes Balance Sheet, Profit & Loss Account, Auditor’s Report, and Board Report.
2. Income Tax Compliance for Pvt Ltd Companies
A Pvt Ltd company is treated as a separate legal entity and is taxed under the Income Tax Act, 1961.
a) Income Tax Rates for FY 2024–25 (AY 2025–26)
- Domestic Companies
- 25% tax rate: If turnover/gross receipts in the previous year (2022–23) did not exceed ₹400 crore.
- 30% tax rate: For all other companies.
- 15% tax rate: For new manufacturing companies incorporated on or after 1st Oct 2019, commencing production before 31st March 2025 (Section 115BAB).
- Surcharge
- 7%: If taxable income exceeds ₹1 crore but up to ₹10 crore.
- 12%: If taxable income exceeds ₹10 crore.
- Health and Education Cess
- 4% on tax plus surcharge.
- MAT (Minimum Alternate Tax)
- 15% of book profits (plus surcharge and cess) applicable, unless exempted under Section 115BAA/115BAB.
b) Due Dates for Tax Compliance
- 31st July 2025 → Due date for filing ITR-6 (if audit not applicable).
- 30th September 2025 → Tax audit report submission (if applicable).
- 31st October 2025 → Income Tax Return filing (for companies requiring audit).
c) Tax Audit under Section 44AB
- Mandatory if turnover exceeds ₹10 crore (for businesses) or ₹50 lakh (for professionals), subject to digital transaction limits.
d) Advance Tax Payments
Companies must pay advance tax in installments:
- 15% by 15th June 2025
- 45% by 15th September 2025
- 75% by 15th December 2025
- 100% by 15th March 2026
3. Other Key Compliances for Pvt Ltd Companies
a) TDS (Tax Deducted at Source)
- Deduction required for payments like salaries, rent, contractor fees, etc.
- Monthly TDS deposit due by the 7th of the next month.
- Quarterly TDS returns: 31st July, 31st October, 31st January, and 31st May.
b) GST Compliance (if applicable)
- Monthly/quarterly GST returns depending on turnover.
- Annual GST return filing by 31st December 2025.
- E-invoicing mandatory for businesses with turnover exceeding ₹5 crore.
c) PF and ESI Compliances
- Applicable if employee strength exceeds thresholds.
- Monthly filings and contributions required.
d) Maintenance of Statutory Registers & Records
- Register of Members, Register of Directors, Register of Charges, etc.
- Minutes of Board Meetings and General Meetings.
e) Event-Based Compliances
These must be filed as and when an event occurs:
- Change in directors (DIR-12)
- Change in registered office (INC-22)
- Increase in authorized share capital (SH-7)
- Allotment of shares (PAS-3)
- Charge creation/modification/satisfaction (CHG forms)
4. Consequences of Non-Compliance
Failure to comply with statutory requirements can lead to:
- Heavy penalties and additional fees.
- Disqualification of directors.
- Company being marked as “Dormant” or “Struck Off” by MCA.
- Legal prosecution in severe cases.
For example:
- Delayed filing of AOC-4/MGT-7 → ₹100 per day penalty (no cap).
- DIR-3 KYC default → DIN deactivation.
- Income Tax non-compliance → Interest under Section 234A/B/C and penalties under Section 270A.
5. Best Practices for Smooth Compliance
- Maintain proper bookkeeping throughout the year.
- Use compliance management software or hire a professional firm.
- Conduct periodic internal audits to avoid last-minute surprises.
- Plan taxes in advance using exemptions and deductions lawfully available.
- Monitor MCA and Income Tax deadlines regularly.
6. Key Deadlines at a Glance (FY 2024–25)
| Compliance | Due Date |
|---|---|
| Advance Tax 1st Installment | 15th June 2025 |
| Advance Tax 2nd Installment | 15th September 2025 |
| DIR-3 KYC (Directors) | 30th September 2025 |
| Tax Audit Report | 30th September 2025 |
| Advance Tax 3rd Installment | 15th December 2025 |
| ITR Filing (Audit cases) | 31st October 2025 |
| Filing of AOC-4 | 30th October 2025 |
| Filing of MGT-7 | 30th November 2025 |
| Advance Tax 4th Installment | 15th March 2026 |
| GST Annual Return | 31st December 2025 |
Conclusion
For the Financial Year 2024–2025, Pvt Ltd companies in India must carefully track their ROC filings, Income Tax returns, GST, TDS, PF/ESI contributions, and event-based compliances. Missing these deadlines can result in heavy penalties, reputational damage, and even legal consequences.
To stay compliant, businesses should adopt a proactive compliance calendar, use digital tools, or partner with a professional compliance management firm. With proper planning, compliance not only avoids penalties but also strengthens a company’s credibility and long-term growth prospects.
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