The Importance of Annual Compliance for Private Limited Companies
Ensuring Legal Compliance: Annual Requirements for Private Limited Companies Running a Private Limited Company involves managing day-to-day operations and adhering to a series of legal and regulatory requirements . Annual Compliance for Private Limited Company is essential to maintaining your company's good standing, avoiding penalties, and ensuring smooth operations. This guide provides a comprehensive overview of the annual compliance tasks that Private Limited Companies must undertake. 1. Annual General Meeting (AGM) Every Private Limited Company must hold an Annual General Meeting (AGM) within six months from the end of the financial year but not later than fifteen months from the previous AGM. The primary agenda of the AGM includes the approval of financial statements, declaration of dividends, appointment or reappointment of directors and auditors, and discussion of any significant business matters. 2. Financial Statements Private Limited Companies must prepare financial s...