Before we learn about the annual compliance of a private limited company let us first understand its business structure. According to Section 2(68) of the Companies Act, 2013 a private limited company is a privately owned legal business entity. The private stakeholders have complete control over it. There is no restriction as such. Anyone can set up a pvt ltd company. For instance businesses in the field of rendering plumbing solutions, dentist services, driving solutions, retail stores, etc. This kind of business structure is known to offer several advantages.