Accounting for a Private Limited company
A Private Limited company carries the heaviest compliance load of any Indian business structure. You owe a statutory audit at any turnover, annual filings to the Registrar of Companies whether or not you traded, and KYC for every director every year, on top of GST, TDS and income tax. We do all of it for one fixed fee every month, and we track the dates so you do not have to.
What applies to you
The rules that apply because of how you are registered.
A statutory audit, at any turnover. Every company is audited, including one that made no sales. There is no turnover threshold to fall below.
ROC filings every year, trading or not. Annual accounts and the annual return. The MCA additional fee is ₹100 per day per form with no upper limit, which is the one late fee in India that does not cap.
Two forms in your first months. Appointing your first auditor, and declaring that you have commenced business. Both have tight windows counted from your incorporation date, and both carry a penalty.
Director KYC, every year, for every director. Miss it and the DIN is deactivated until a fee is paid. It catches people who have not thought about their company all year.
A digital signature for filings. Companies file with a digital signature, not an OTP. You buy the token once and it stays yours.
Board meetings and records. Minutes and resolutions the law expects a company to keep. Nobody checks until somebody does.
What we do about it
What we take over.
Books every month. Recorded and matched to your bank as the year goes, so the audit is a review rather than a reconstruction.
GST, TDS and income tax. Prepared and filed on schedule. You approve every filing before it goes.
Every ROC form, tracked and filed. Including the first-year ones most founders have never heard of.
Your auditor gets what they need. Your books are handed over closed and supported, which is what makes an audit quick.
Notices handled. Forward it on WhatsApp. Routine notices are inside the fee.
A company that never traded still files. That is the bill first-time founders do not see coming.
Questions
What people in your position ask.
My company has not started trading. Do I still have to file anything?
Yes. A Private Limited company that has made no sales still files its annual accounts, its annual return and its income tax return, and it is still audited. A dormant company is not an exempt company. This is the most common and most avoidable first-year mistake.
Can you be my auditor as well?
No, and no firm can do both. The law requires your statutory auditor to be separate from the firm doing your books. That rule exists to protect you, and it is why the audit fee sits outside our monthly fee.
I incorporated a few weeks ago. What is due first?
Two things with tight deadlines counted from your incorporation date: appointing your first auditor, and filing the declaration that you have commenced business. After that, GST registration if it applies to you, and TDS from the month you first pay a salary or a contractor. Send us your incorporation date and we will map the whole first year with dates.
Does the fee cover my personal income tax return as a director?
No. The monthly fee covers the business. A director's personal return is a separate job. Ask us and we will tell you what it involves before you decide.
By business structure
Not quite you?
- LLP
Lighter than a company, but the uncapped ROC fee still applies.
- One Person Company
A company in every way that costs money, with a lighter annual return.
- Partnership Firm
No ROC at all. The tax work is where the money is won or lost.
- Proprietorship
You and the business are one taxpayer. Simplest structure, easiest to neglect.