Annual Filings of Company
A Private Limited Company that is registered under the Indian Companies Act 2013 is required to submit to the registrar of companies annually the annual accounts and returns that include information about its directors, shareholders, and other individuals.
Overview
Every business is required by The Companies Act, 2013 to file its annual return and annual accounts within 60 days and 30 days, respectively, following the conclusion of the Annual General Meeting. Given that the AGM ends on September 30th, the company’s annual reporting deadline is October 30th. As part of the yearly filing, the ROC must receive the following forms: Form MGT 7: Form MGT-7 (Annual Returns) must be submitted within sixty days of the annual general meeting.
Form AOC-4: Within 30 days, a private limited company must submit its balance sheet, profit and loss statement, and director report along with Form AOC-4 (Financial Statements).
Benefits of Annual Filings of Company
Clearly State the Financial Situation
Filing aids in the evaluation and assessment of a business’s financial situation. i.e., whether the company is profitable.
Evidence of the Company’s Existence
The government will update the company’s existence record based on the filings the company has made. Therefore, the company’s existence is confirmed by its regular filings with the ROC.
Defence Against Penalties
Businesses who don’t submit annual reports risk fines. Timely filings will therefore protect the company.
Defence against business closure
A company’s name may be struck out by the ROC if it has not submitted annual reports for an extended length of time because it is considered fraudulent.
Checklist/Requirements
- The company’s balance sheet.
- The business’s profit and loss account.
- The Auditor’s Report Company PAN Auditor Name Details of the Auditor Auditor PAN appointment.
- Information on any share transfers that were made during the fiscal year.
- Information on any allocations made during the fiscal year
Process of Annual Filings of Company
Step 1: Call a board meeting so that the company’s directors can approve the draft financial statements, board report, and annual return.
Step 2: Hold the company’s annual general meeting and adopt the required resolutions.
Step 3: Add the resolutions that were approved to the minutes.
Key Deliverables
MGT -7 AOC -4
Recognition of filed copies
Why Choose Us
Friendly to Entrepreneurs
Our pros will offer you all of the promised deliverables within the allotted period, and we make the procedure so quick and simple that you won’t even feel the headache of all the paperwork.
Skilled Experts
Every one of our experts is trained and skilled in that specific field. ensuring that no errors are made when filing with the authorities in order to prevent the company from incurring penalties for errors.
One Place to Go for All of Your Needs
We assist you at every stage of your company’s development, including incorporation, accounting and taxation, secretarial compliance, and legal support.
Economical
Since cost is a major factor in any business’s growth stage, we don’t surprise our clients with extra fees; instead, you pay what is shown in the original plan.
