- Availability 24/7 Hours
- +91 8604665727
- info@taxoexpert.com
Company Annual Filing
Company Annual Filing
Every company is required to file the annual accounts and annual return as per the Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129(3), 137, of the Companies Act, 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and annual return is governed under Section 92 of the Companies Act,2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.
All companies registered in India like a private limited company, one person company, limited company, and section 8 company need to maintain the annual compliances like annual returns and income tax return each year. Though Company Registration happens to be the most popular form of starting a business, various compliances need to be followed once the business is Incorporated.
- A company is required to file its audited financial report along with the Director’s Report with the ROC in the prescribed form AOC-4 within 30 days of conclusion of the AGM.
- Every company needs to file an Annual Return to the ROC under section 92 of the companies act, 2013, within 60 days of the AGM’s conclusion. Filing of MGT-7 is mandatory under law, and it is a statement summarizing the company’s key information. In the company’s annual return, all the company’s significant changes during the financial year are reported.
PENALTY FOR NON-FILING OF COMPANY ANNUAL RETURNS
Penalty for Form AOC-4: A penalty of Rs 100/- per day on delay in filing Form AOC-4. Apart from that, Company and Every Director shall be liable to a penalty of Rs. 1,000/- for every day during which the failure continues but which shall not be more than Rs. 10,00,000/-
Penalty for Form MGT-7: A penalty of Rs 100/- per day is charged by the companies. Each member of the company and who is in default shall be deemed for paying the penalty of Rs. 50000/- and also the late fee of Rs. 100/- per day if the default continues. The Penalty is subject to a maximum of Rs. 500000/-.
DIRECTOR KYC
The company’s first ROC Annual compliance is to submit the directors KYC with the Registrar of Companies in the prescribed form DIR-3(KYC), if the director is filing the KYC to MCA for the first time. However, the directors who have already filed KYC in the previous financial year KYC can be filed through a web-based facility at the MCA Portal. The filing of KYC by every person who has been allotted a Directors Identification Number.
There is no government fee for timely filing of the DIN KYC; However, if the due date is missed, then the DIN gets deactivated. A deactivated DIN may be activated on payment of ROC fees of Rs. 5000/-.
COMPLIANCE CHECKLIST
- Compliance Requirement
- Auditor Appointment. ADT-1 Form
- Statutory Accounts Audit
- Annual Return Filing MGT-7 Form
- Financial Statements Filing AOC-4 Form
- Conducting Annual General Meeting
- Preparing Director’s Report
- Return of Deposit Explanation
- An auditor will be appointed within one month of company incorporation. The tenure of the Auditor will be 5 years.
- Companies shall prepare their financial accounts for an annual compulsory audit by a practicing
- Private Limited Companies shall file their Annual returns for the Financial Year according to form MGT-7 within 60 days of conducting their Annual General Meeting
- All Pvt. Ltd companies are to file their Balance Sheet, Profit and Loss account Statement along with Director’s report included in the form to be done 30 days after conducting their Annual General meeting
- The company will hold an Annual General Meeting (AGM) at least once per calendar year. It is required to hold an AGM 6 months prior to the conclusion of the financial year.
- A Director’s report has to be prepared with all relevant information in accordance with Section 134
- According to Rule 16 of Companies (Acceptance of Deposits) Rules, 2014, Every Company which is eligible to receive deposits is required to file a return once a year in Form DPT 3.
Enquiry Person Details
Other Services
Contacts
Visit Us
7/115, D & E, Ground Floor, Ashraya Apartment, Swaroop Nagar, Kanpur - 208002
Have Any Questions?
+91 8604723727
0512-3553102
Mail Us
cacslegals@gmail.com fennixxlegalindia@gmail.com
Brochures
