It is mandatory for every Indian Company to file various forms and documents with the ROC annually, which includes financial statements, annual returns, etc. Any Private Limited company needs to keep its annual compliance up to date to avoid any future disputes or disciplinary actions from any regulatory authority.
As every company has to intimate the department about the income, and expenditure and information regarding shareholders, meetings, etc. and to make company free from non-compliances. If we fail to do so, then a penalty is imposed for not filing a company’s annual return.
