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Private-limited first-year compliance: every question, answered

Auditor appointment, board meetings, AOC-4, MGT-7, DIR-3 KYC and first-year ROC basics.

Last updated 2026-06-12 · Covers FY 2025-26 and FY 2026-27

Plain-language answers, reviewed for publication.

Each question has a shareable anchor, a verdict-first answer, and links into the calculators, calendar, glossary or sibling guide pages where relevant.

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  1. A · Immediately after incorporation
  2. B · Board and shareholder records
  3. C · Annual filings
  4. D · Director compliance

A · Immediately after incorporation

1What must a private limited company do after incorporation?

A company has compliance work immediately after incorporation. Typical first steps include bank account, capital receipt, registered-office records, first board actions, statutory registers and appointment/confirmation of auditor.

2When is the first auditor appointed?

The first auditor is appointed early in the company's life. The board/shareholder route and deadline depend on whether the first appointment is made on time. Missing it creates avoidable ROC risk.

3When do we open the bank account and bring in share capital?

A company has compliance work immediately after incorporation. Typical first steps include bank account, capital receipt, registered-office records, first board actions, statutory registers and appointment/confirmation of auditor.

B · Board and shareholder records

4How many board meetings are required in the first year?

Board minutes, registers and share records matter even for a small private company. Share allotment, if any, can require PAS-3 and supporting resolutions. Keep records contemporaneously; recreating them during annual filing is risky.

5What registers does a private company maintain?

Board minutes, registers and share records matter even for a small private company. Share allotment, if any, can require PAS-3 and supporting resolutions. Keep records contemporaneously; recreating them during annual filing is risky.

6What is share allotment and when is PAS-3 needed?

Board minutes, registers and share records matter even for a small private company. Share allotment, if any, can require PAS-3 and supporting resolutions. Keep records contemporaneously; recreating them during annual filing is risky.

C · Annual filings

7What are AOC-4 and MGT-7?

AOC-4 files financial statements; MGT-7/MGT-7A files the annual return. Due dates are linked to the AGM and company category. Delay usually creates additional fees and can affect directors if repeated.

8When are ROC annual filings due?

AOC-4 files financial statements; MGT-7/MGT-7A files the annual return. Due dates are linked to the AGM and company category. Delay usually creates additional fees and can affect directors if repeated.

9What happens if annual filing is delayed?

AOC-4 files financial statements; MGT-7/MGT-7A files the annual return. Due dates are linked to the AGM and company category. Delay usually creates additional fees and can affect directors if repeated.

D · Director compliance

10What is DIR-3 KYC?

DIR-3 KYC is annual director KYC for DIN holders. If not completed, the DIN can be marked inactive and restored only after filing and fee/payment as applicable.

11What if a director's DIN is marked inactive?

DIR-3 KYC is annual director KYC for DIN holders. If not completed, the DIN can be marked inactive and restored only after filing and fee/payment as applicable.

12Does a dormant startup still need annual compliance?

AOC-4 files financial statements; MGT-7/MGT-7A files the annual return. Due dates are linked to the AGM and company category. Delay usually creates additional fees and can affect directors if repeated.

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This guide is general information for understanding the topic, not advice on your specific situation, and not solicitation of work. Tax positions turn on your full facts and on the law in force for the relevant year. Confirm your position with a qualified professional before acting.