Company Annual Filing is a mandatory compliance requirement under the Companies Act, 2013, ensuring legal and regulatory adherence. Every registered company must file annual returns and financial statements within specified deadlines following their Annual General Meeting (AGM). This process includes submitting balance sheets within thirty days and annual returns within sixty days. Non-compliance results in significant penalties, including daily fines up to INR 10 lakhs for companies and INR 5 lakhs for officers. Timely filing maintains good corporate standing, avoids legal complications, and ensures smooth business operations while meeting statutory obligations.
As per the Companies Act, 2013, the mandate is that companies are required to file their returns and accounts annually. Following the Annual General Meeting (AGM), every company is required to file its balance sheet within thirty days and its annual return within sixty days.
Annual reports are regulated by Sections 129(3) and 137 of the Companies Act, 2013, and Rule 12 of the Company (Reports) Rules, 2014. Annual returns are to be in compliance with Rule 11 of the Companies (Management and Administration) Rules, 2014, and Section 92 of the Companies Act, 2013.
Basically Company Annual Filing consists of filing of two forms viz. AOC-04 and MGT-07/MGT-7A. AOC-4 is a form for filing of financial statement of company along with audited financial statements and MGT-07 is a form of company’s annual returns consists of information like number of meetings held in a previous year, if any directors or auditors appointed/removed during the previous financial year and so on. Small companies are required to file Form MGT-7A instead of MGT-7. The information to be provided in form MGT-7 and MGT-7A are almost similar but in form MGT-7A the information are comparatively lesser than that of MGT-7.
AOC-4: The company is required to file the form AOC-4 within 30 days from the Annual General Meeting date. For example, for the year 2022-23, AGM held on 30 September 2023, AOC 4 must be filed by 30 October 2023 of the relevant year.
MGT 7: The company is required to file the form MGT 7 within 60 days from the Annual General Meeting date. For example, for the year 2022-23, AGM held on 30 September 2023, MGT 7 must be filed by 29 November 2023 of the relevant year.
If you don’t submit the required forms by the deadline, you’ll face penalties:
Late Fee:
You’ll have to pay INR 100 for each day you delay filing.
On the Company:
INR 1,000 per day, subject to a maximum of INR 10 Lakhs.
On Every Officer in Default:
INR 1 Lakh, plus INR 100 per day of delay, subject to a maximum of INR 5 Lakhs.
