Company Annual Filing in Surat

Ask our experts now

Online Chartered can help you form a producers company in most convenient way.

Get Free Consultation

Home

Compulsory Compliances

Company Annual Filing

Company Annual Filing: What is it?

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.

Which forms are required for company annual filing?

AOC-4– It is filed to submit the company's financial statement, including audited accounts.
MGT-7/MGT-7A – MGT-7 is filed to submit the company annual return, including details such as the number of meetings, change in directors or auditors, etc. Small companies need to submit MGT-7A in lieu of MGT-7. The information to be filled in MGT-7A is comparatively less than MGT-7.

Which Forms Are Required for Company Annual Filing?

AOC-4– It is filed to submit the company's financial statement, including audited accounts.

MGT-7/MGT-7A – MGT-7 is filed to submit the company's annual return, including details such as the number of meetings, change in directors or auditors, etc. Small companies need to submit MGT-7A in lieu of MGT-7. The information to be filled in MGT-7A is comparatively less than MGT-7

When is the Due Date for Company Annual Filing?

AOC-4: You need to submit this form within 30 days after the AGM date.

Here's an example: If your AGM for the 2022-23 financial year took place on September 30, 2023, you should file AOC-4 by October 30, 2023.

MGT-7/MGT-7A: You have to file this form within 60 days after the AGM date.

Let's say you’re AGM for the 2022-23 financial year happened on September 30, 2023. In this case, you should file MGT-7 by November 29, 2023.

What Happens When You Don't File the Forms on Time?

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.

Get all your answers here

1. Who has to file annual returns for a company?

All the registered companies, i.e., private limited, public limited, or one-person company, have to file annual returns.

2. What do I have to file AOC-4?

You will need financial statements, an auditor's report, and a board's report.

3. Is it possible to revise my AOC-4 or MGT-7 after I’ve submitted them?

No, revisions are not permitted once they have been submitted. Any mistakes will necessitate a separate rectification process.

4. Are there any companies that don't have to file annually?

No, every business must follow filing rules regardless of their income or industry type.

5. Can the government extend the deadlines?

Sometimes, the Ministry of Corporate Affairs (MCA) might announce extra time, but don't count on it. Keep an eye out for official updates. Submitting on schedule helps your company obey the law, avoids big fines, and keeps your business running . Make sure to turn in your yearly reports on time.