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Understanding Private Limited Company Compliances in India: A Practical Guide for Businesses in Pune

If your business is registered as a Private Limited Company in India, understanding and keeping up with your statutory obligations is not just important—it’s critical. Whether you’re a startup, an SME, or a growing enterprise, adhering to regulations under the Companies Act, 2013, Income Tax Act, and GST framework is essential for smooth operations and long-term sustainability.

At Akhil Amit & Associates, a leading chartered accountancy firm and trusted Best CA in Pune, we specialize in full-spectrum compliance services tailored to the needs of Private Limited Companies.

Why Opt for a Private Limited Company?

A Private Limited Company offers clear advantages—limited liability, distinct legal identity, and the flexibility to raise funds. These features make it a popular structure among founders looking to build professionally run and investor-friendly businesses.

If you're planning Private Limited Company Registration in Pune, we can assist you with incorporation, post-incorporation compliance, and annual return filings.

Core Compliance Requirements for Private Limited Companies

Here's a breakdown of the key legal, financial, and tax-related compliance requirements every Private Limited Company must fulfill annually:

📌 1. Certificate of Commencement – Form INC-20A

Required within 180 days of incorporation (for companies with share capital). Penalty: ₹50,000 for the company, plus ₹1,000/day for each director.

📌 2. Auditor Appointment – Form ADT-1

To be filed within 30 days of incorporation. Appointing a statutory auditor is mandatory.

📌 3. GST Returns – GSTR-1 and GSTR-3B

Timely monthly/quarterly returns under GST are mandatory:

GSTR-1: Outward sales

GSTR-3B: Monthly tax summary

We offer professional GST return filing services, ensuring zero late fees and full ITC reconciliation.

📌 4. Accounting & Bookkeeping

Accurate records are crucial for tax filing and audits. We manage:

Ledger maintenance

Bank and vendor reconciliations

Payroll & compliance reporting

Inventory tracking

For cost-effective outsourced bookkeeping with compliance-first accuracy, reach out to the Best CA for Company Registration and Accounting in Pune.

📌 5. TDS Return Filings – Quarterly

Filing of:

Form 24Q (Salaries)

Form 26Q (Vendor Payments)

Form 27Q (Payments to NRs)

Due dates: July 31, Oct 31, Jan 31, May 31

📌 6. Income Tax Return – Form ITR-6

Filing due by October 31st. Includes:

Full tax computation

Advance tax reconciliation

Tax audit, if applicable

Our firm helps reduce your tax liability through strategic planning and ensures on-time, accurate filings.

📌 7. Statutory Audit

All companies must conduct an annual statutory audit. The audit report, along with financials, is filed using Form AOC-4 within 30 days of AGM.

📌 8. ROC Filings – Annual Returns

Key forms:

AOC-4 – Financials

MGT-7A or MGT-7 – Annual Return

Deadlines vary: 30–60 days from AGM

📌 9. Additional Forms

DIR-3 KYC: Director KYC

DPT-3: Deposits return

MBP-1: Director’s interest

MSME-1: Outstanding MSME dues

ADT-1: Auditor appointment (renewal)

📌 10. Event-Based Compliances

Report changes such as:

Increase in share capital

Change of directors

Allotment or transfer of shares

Appointment of key managerial personnel

Opening or closure of bank accounts

These changes must be filed within specific timelines to avoid penalties.

The Cost of Missing Compliance

Failing to comply with any of the above regulations can lead to:

Penalties

Director disqualification

Loss of credibility with investors or lenders

Potential legal actions

Why We’re the Best CA for Private Limited Company Compliance in Pune

✅ Tailored packages for startups, SMEs, and funded companies ✅ Compliance calendar with reminders ✅ Hands-on support for MCA, ROC, GST, TDS, and ITR filings ✅ 100% digital execution with timely status updates ✅ Strong ratings and client trust on Google My Business

Final Thoughts

Compliance is not optional—it’s the foundation of a legally healthy business. Whether you're an early-stage startup or a growing business, staying on top of your obligations ensures peace of mind and avoids regulatory disruptions.

Ready to get compliant? Visit akhilamitassociates.com or contact us through our GMB profile to schedule a free consultation today.

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New Labour uniform codes

As per the information gathered by me from news/media/notifications, etc on new 4 labour uniform codes- few provisions are being implemented w.e.f. 1-7-22 by Central Govt and rest shall be notified by States as per their “State – Reforms of Labour Code” and dates for implementation shall be as per their state’s gazette notification, the central rules are as under: (Attaching latest booklet on the matter)

*W.e.f 1.7.2022*

1. Working hours can be varied from 10 to 12 hours but an aggregate 48 hours exists so can do 4 day week and three days layoff/weekly off – as per requirement. The Government is also working on the work from home concept.

2. Basic is mandatory 50% of CTC. So pf in any case 12% on Basic that is 50% of CTC.

*Important Note:* Basic can not be less than 50% of CTC but in Minimum wages – that consists of Basic + DA as part of basic therefore for those employees who are getting minimum wages can not be further bifurcated.

NEW LABOUR LAW REFORM CODES: (total 29 existing labour laws merged in 4 new Reform Codes)

The central government has notified four labour codes, namely,

1. the Code on Wages, 2019, on August 8, 2019; (amalgamated 4 laws) 2. the Industrial Relations Code, 2020, (amalgamated 3 laws) 3. the Code on Social Security, 2020, (amalgamated 9 laws) and 4. the Occupational Safety, Health and Working Conditions Code, 2020 on September 29, 2020. (amalgamated 13 laws)

COMPONENTS OF THE MINIMUM WAGE:-

The statutory minimum wage is based on the gross wage payable for a normal working week, i.e. before overtime payments.

MINIMUM WAGE COMPONENTS:

1. the basic wage agreed in your contract; 2. performance-related payments and allowances for shift work, irregular hours, etc.; 3. weekly or monthly fixed payments for the turnover you generate; 4. work-related payments by third parties, e.g. tips or payments agreed between you and your employer; (The total of these amounts may not be lower than the minimum wage.)

INCOME NOT INCLUDED IN THE MINIMUM WAGE:

Some income components are not included in the calculation of the minimum wage:

1. overtime pay; 2. leave allowance; 3. profit shares; 4. special payments, e.g. incidental payments received for reaching sales targets; 5. future payments you receive subject to certain conditions (e.g. pension and saving schemes to which the employer contributes); 6. expense allowances; 7. end-of-year allowances.

PART-TIME WORK AND THE MINIMUM WAGE

Your gross minimum wage depends on how many hours you work. If you work part time the gross minimum wage is proportionately lower.

Therefore, you are requested to be in touch with experts on the subject for implementing dates of Labour Codes state wise because our company works pan-India.

Read our other blog – Latest Taxation, GST and Other Updates

Chartered Accountant in Pimpri Chinchwad

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TDS on Sale of Property by NRI in India – Latest 2022

Chartered Accountant in Pimpri Chinchwad

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Income Tax on Digital Gold held in wallets

It is the newest form of investing in gold where you can purchase gold in mobile wallets like Paytm, ET Money, etc. In this case, the investor does not have possession of physical gold rather the gold is held in digital form in the mobile wallets. You can purchase digital gold online and also sell it online at any time as per your convenience. The Income Tax Treatment on sale of the digital gold is the same as for physical gold:

1. If the digital gold is held in the wallet for a period of 3 years or more, it is “Long-Term Capital Gains” and is chargeable to tax @ 20% plus cess @ 4%. Indexation benefits will be available to the taxpayer while calculating long-term capital gains.

2. If the digital gold so held in the mobile wallets is sold before 3 years from the date of purchase, it is “Short-Term Capital Gains” and will be liable to tax at the tax slab applicable to the taxpayer.

Contact us for Income tax Return filing, ITR Filing, tax planning and all other income tax related services.

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Income Tax on Gold Derivatives -

Gold Derivatives are the derivative contracts where the underlying asset is gold. An investor can buy gold derivatives (Futures or options) from the commodities market namely NCDEX or MCX. The income tax treatment on the sale of gold derivatives is similar to that of commodity derivatives. The following points are to be noted in this regard:

1. Trading in Gold Derivatives is treated as a “Non-Speculative Business”. As such, any profits or loss on trading in gold derivatives shall be treated as non-speculative business income of the assessee.

2. You can also claim a deduction towards expenses incurred against such income. The net gains or losses in gold derivatives are to be disclosed by filing income tax return in form ITR- 3.

3. Under ITR-3, you are required to give details of assets and liabilities in the Balance Sheet and the details of turnover and gains/ losses in the Profit & Loss Account.

4. Income from Gold Derivatives is taxable at the applicable slab rates.

Contact us for filing of ITR, Income Tax Returns, Tax Planning, and all other income tax related works.

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Tax on listing gains of IPO

Listing gains arise when an investor makes an application in an IPO and sells the shares allotted within a short span of time generally not more than 12 months. Since the shares allotted are sold within a period of 12 months, the gain arising on the sale of shares (Sales Price- IPO price) will be treated as “Short Term Capital Gains” and charged to income tax at the rate of 15% while filing income tax return online.

The following points are to be noted in this regard:

Listing gains on shares held up to 12 months shall be treated as “Short Term Capital Gains” under the head of Capital Gains.

The tax rate applicable on short-term capital gains on IPO is 15%.

But in case your total income including listing gains on IPO is not more than Rs. 2,50,000 (Rs. 3 lakhs in case of senior citizens), then you need not pay any tax on such listing gains.

However, if the allotted shares are sold after 12 months from the date of allotment, the gains arising on such shares will be treated as “Long Term Capital Gains” and taxed at a special rate of 10% of long-term capital gains in excess of Rs. 1 lakh.

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★Email from Amazon Associates

This decision is final and will not be heard. We will not reopen a closed account that has been suspended due to a violation of the operating rules, and will not pay a referral fee for that account.

How many times, when the reward is generated, the account is closed and it is not paid. There is no explanation for the reason, and for people with disabilities and designated intractable diseases, they unilaterally cut off a proper source of income ...

Life is difficult and there are no medical expenses, so I can't treat it. Is it fun to hurt the poor and disabled in Japan? I understand the feelings of a person who commits suicide, and when I think about the future, "I want to die."

Because Amazon in the world does not pay tens of thousands of yen, Japanese people with disabilities and designated intractable diseases cannot survive ...

Discrimination against persons with disabilities

★

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Assessee tries to Drag GST Proceedings: Madras HC refuses to quash Notice for Attachment and Sale of Immovable Property

News Details

Assessee tries to Drag GST Proceedings: Madras HC refuses to quash Notice for Attachment and Sale of Immovable Property

The Madras High Court has dismissed a plea seeking to quash the notice for the attachment and sale of immovable property by observing that the assessee is trying to drag the GST proceedings.

The petitioner, Tvl.G.Sankar Timber Depot filed a writ petition before the Court challenging the Form GST DRC-16 contending that had proceeded to issue the notice for attachment and for sale of the immovable property under Section 79 of the GST Act, 2017 in Form GST DRC -16 by attaching various properties in this schedule to the said notice.

Earlier, the petitioner approached the Single bench wherein the Court quashed the proceedings and directed the department to pass fresh orders on merits and in accordance with law after giving an opportunity to the petitioner to raise objections and after granting personal hearing within a period of 12 weeks from the date of payment of the conditional amount imposed under the impugned orders

Mr. Justice C. Saravanan observed that Form GST DRC-16 is belated and therefore, the writ petition is liable to be dismissed.

“That apart, in Form GST DRC-16 merely attaches immovable properties. There is no attachment of any bank accounts. The petitioner appears to be interested in dragging on the proceeding though the petitioner appears to be in arrears of huge amount of tax for these assessment years. Since the matter has been remitted back, it is not open for the petitioner to now seek for quashing of the Form GST DRC-16. It is sufficient to state that the petitioner should participate in the proceedings before the respondent in terms of the notice dated 14.02.2022 for these assessment years. Since the matter has been remitted back, it is not open for the petitioner to now seek for quashing of the Form GST DRC-16. It is sufficient to state that the petitioner should participate in the proceedings before the respondent in terms of the notice dated 14.02.2022,” the Court said.

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Full Guide to Online Tax Dispute Resolution Scheme with Benefits

The Central Board of Direct Taxes reported the e-Dispute Resolution scheme, 2022 to settle tax disputes.

What is the Requirement for the Amended Tax Dispute Resolution Policy?

The income tax laws would constantly get updated over a period of time. The former 8 years poses effective technology helps in compiling information and executing the actions with respect to the defaulting assessee. When an income tax notice was issued or an order is passed, a taxpayer had a choice other than filing an income tax appeal and fighting the case, but a big or small amount may be secure. The central government brings an assessee-friendly online dispute resolution committee.

What Class of Assessee are Qualified for the Policy?

All the taxpayers would be qualified for the Dispute Resolution Committee as per the mentioned conditions. The returned income is up to ? 50 lakh and the tax dispute will not be more than Rs 10 lakh. Tax on returned income has been furnished. No Prosecution Proceedings have already been executed. No investigation has been executed for the same concerned assessment year. No survey has been executed for the related assessment year.

Who are the Members of the Dispute Resolution Committee?

The committee will comprise three members i.e two retired officers from the Indian Revenue Service who rendered the post of commissioner of the income tax or higher post for 5 years. It indeed comprises of one serving officer not less than the rank of principal commissioner of the income tax and the members who have the term of 3 years.

What are the Advantages of the Dispute Resolution Committee Process?

There are some advantages that consist of a full waiver of tax penalty, immunity from prosecution proceedings, clarity in proceedings, and the assessee would settle cases and prevent the litigation held repeatedly. Indeed the advantage is available every year to the taxpayer, unlike the previous Settlement Commission which was restricted to once in a lifetime.

What is the Method to Apply to the Dispute Resolution Committee?

Post to the payment of Rs. 1000 fees, a Form 34BC needs to get furnished to avail the advantage of the dispute resolution committee, as well as with a statement of points and basis. Post to scheduled hearings, full waiver and immunity would be allotted to the assessee.

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Looking for a chartered accountant in Pune, India? If so, Akhil Amit And Associates, Chartered Accountants is a team you can truly trust. As one of the best chartered accountant in Pimpri Chinchwad and Pune, India. We offer services that are professional and reasonably priced. Our team of experts have years of experience in their respective fields and can provide you with the right consultation. Get in touch with us through our official website today!

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