Overview
Annual Compliances are mandatory legal, financial, and regulatory requirements that businesses must fulfill every financial year to remain compliant under Indian laws. These compliances apply to companies, LLPs, partnerships, proprietorships, startups, and other registered entities.
Failure to comply with annual compliance obligations can lead to penalties, interest, disqualification of directors, cancellation of registrations, and legal action. At Adviso Compliance, we provide complete annual compliance management services to ensure your business remains legally active, penalty-free, and fully compliant throughout the year.
What Are Annual Compliances?
Annual compliances refer to periodic filings, disclosures, and statutory obligations that businesses must complete every year under various laws such as:
Companies Act, 2013
Income Tax Act, 1961
GST Act
LLP Act, 2008
Labour Laws and other regulatory frameworks
These compliances help government authorities monitor financial transparency, tax obligations, and lawful business operations.
Who Needs to Comply with Annual Compliances?
Annual compliances are mandatory for:
Private Limited Companies
One Person Companies (OPC)
Limited Liability Partnerships (LLP)
Partnership Firms
Proprietorships
Startups and MSMEs
Registered NGOs and Trusts
The nature and extent of compliance depend on the business structure.
Why Annual Compliances Are Important
Annual compliances are crucial because they:
Ensure legal continuity of business
Prevent heavy penalties and late fees
Avoid director disqualification
Maintain business credibility
Enable smooth access to banking and funding
Ensure accurate financial reporting
Help avoid government notices and scrutiny
Non-compliance can severely affect business operations.
Annual Compliances for Private Limited Companies
Private Limited Companies must comply with multiple statutory requirements every year, including:
Appointment of auditor
Board meetings and AGM
Filing of annual financial statements
Filing of annual return with ROC
Income tax return filing
Maintenance of statutory registers
Key ROC forms include AOC-4 and MGT-7.
Annual Compliances for One Person Company (OPC)
OPCs have simpler compliance requirements compared to private companies, such as:
Filing annual financial statements
Income tax return filing
ROC filings as applicable
Maintenance of statutory records
Despite relaxed rules, compliance is still mandatory.
Annual Compliances for LLP
LLPs are required to comply with:
Filing of LLP Form 8 (Statement of Accounts)
Filing of LLP Form 11 (Annual Return)
Income tax return filing
Maintenance of books of accounts
Timely LLP compliance helps avoid penalties.
Annual Compliances for Partnership Firms
Partnership firms must comply with:
Income tax return filing
Audit (if applicable)
Maintenance of financial records
Compliance with partnership deed terms
Registered partnership firms have additional filing obligations.
Annual Compliances for Proprietorships
Proprietorships generally need to comply with:
Income tax return filing
GST returns (if registered)
TDS returns (if applicable)
Maintenance of books of accounts
Though simpler, non-compliance may still attract penalties.
Annual GST Compliance
Businesses registered under GST must comply with:
Monthly or quarterly GST returns
Annual GST return (GSTR-9)
Reconciliation statement (if applicable)
Payment of GST liabilities
GST compliance is a major component of annual compliance.
Income Tax Annual Compliance
Annual income tax compliance includes:
Filing income tax returns
Tax audit (if applicable)
Advance tax payments
Compliance with notices
Correct income tax compliance ensures financial transparency.
Labour Law & Other Regulatory Compliances
Depending on business activity, annual compliance may also include:
PF & ESIC filings
Labour welfare fund returns
Professional tax returns
Industry-specific regulatory filings
Our team identifies all applicable obligations.
Common Mistakes in Annual Compliance
Businesses often face issues due to:
Missing statutory deadlines
Incomplete documentation
Incorrect financial reporting
Ignoring ROC or GST filings
Lack of professional guidance
With Adviso Compliance, these risks are minimized.
Penalties for Non-Compliance
Failure to comply with annual requirements may result in:
Heavy late fees and penalties
Director disqualification
Cancellation of registrations
Legal notices and prosecution
Loss of business credibility
Timely compliance helps avoid unnecessary risks.
Why Choose Adviso Compliance for Annual Compliances?
Experienced compliance professionals
End-to-end compliance management
Timely reminders and filings
Accurate documentation
Transparent pricing
PAN-India service support
We act as your long-term compliance partner.
Our Annual Compliance Services Include
ROC annual filings
GST annual compliance
Income tax filings
LLP and OPC compliance
Startup compliance support
Advisory and compliance tracking
We customize services based on your business needs.
FAQs – Annual Compliances
Yes, every registered business has some form of annual compliance.
Late fees, penalties, and legal action may apply.
Yes, compliance requirements vary by business structure.
Yes, most filings are completed online.
Professional support helps avoid errors and penalties.