• Why Annual Compliance Filing is necessary?

Stats of Annual Compliance by MCA
Fig 1.1 MCA Stats of Annual ROC Compliance In India

According to MCA [Ministry of Corporate Affairs] 11820 companies is being strike off in Mumbai by ROC[ Registrar of Companies].

ROC is a office under MCA which deals with things related to maintaining the record of shareholders and directors, regulating annual compliance filing required for smooth running of a company.

 According to the Companies Act 2013 (An act of Parliament which regulates the working of Companies stating the legal limits within which companies may do their business), there are certain compliance that are needed to be filed by every company after incorporation. The compliance which is filled annually is called as “Annual Compliance Filing”

 The main goal of Annual Compliance Filing is to give an overall annual information about company to ROC.

 Whether you are startup who have just started the business or company running for a long it is important to file ROC Annual Compliance before time i.e for the financial year 2017- 18 it is 30th September. It is a responsibility of Company Directors or management to file ROC Annual Compliance.

  • Penalty For Late Filing of Annual Return With ROC

Penalty due to delay in Filing Annual Roc Compliance
Fig 1.2 Penalty due to delay in Filing Annual ROC Compliance
  • What is Annual  ROC Compliance For Private Limited Companies?

 As a part of Annual ROC Filing, Following is the process which is need to be followed:

ROC Compliance Steps for Private Limited Companies
Fig 1.3 Infographic of ROC Compliance Steps for Private Limited Companies
  1. Holding Board Meetings:

       4 Board Meetings in a financial year

       2 Board Meetings in a Financial Year is the company is within 3 years of its incorporation

2.  Appointment of Auditor:

      Auditor will be appointed for the 5 (Five) years and form ADT-1 will be filed for 5-year appointment.

  1. Filing of Annual Return (Form MGT-7):

      Every Private Limited Company is required to file its Annual Return within 60 days of holding of                Annual General Meeting. Annual Return will be for the period 1st April to 31st March.

  1. Filing of Financial Statements (Form AOC-4):

      Every Private Limited Company is required to file its Balance Sheet along with statement of Profit              and Loss Account and Director Report in this form within 30 days of holding of Annual General                  Meeting.

  1. Holding Annual General Meeting:

      It is mandatory for every Private Limited Company Company to hold an AGM in every Calendar               Year. Companies are required to hold their AGM within a period of six months, from the date of                 closing of the Financial Year.

  1. Preparation of Directors’ Report:

      Directors’ Report will be prepared with a mention of all the information required under Section 134.

  1. Preparation of Minutes of the Meeting:

      For Every Board Meeting and AGM minutes of the meetings has to be prepared and kept in record            for  8 years.

  1. Maintaining Statutory Register:

     Yearly Statutory Register has to be maintained where all the Details has to be filled and maintained           for 8 Years.

  • What is Annual ROC Compliance For LLP ?

     As a part of Annual ROC Filing, Following is the process which is need to be followed:

Infographic for LLP ROC Compliance
Fig 1.4 Infographic for LLP ROC Compliance
  1. Filing of Annual Return

File Form – 11 to register within 60 days from the financial year.

  1. Filing Process of  Form – 8

Filing of Form – 8 on or before 30 October every year.

  1. Filing of Income Tax Return

Filing of ITR, last date for filing is on or before 30th September 2018.

  • How Annual ROC Compliance Can Be Filed?

          Annual ROC Compliance can be filed online by submitting forms in MCA website or by taking help           of  CA Experts.

          To avoid unnecessary penalties it is recommended for any type of companies to take a help of                   experienced CA Experts.

  • Why InCFO

With Dedicated and 20+ Experienced CAs, CS and Lawyers in our team, we help you to complete your
ROC Compliance on time at affordable prices. With an exhaustive experience in the Profession and
Startup atmosphere across diverse industries, we understand the pulse of the Entrepreneur and
will guide them in their Compliance matters.

For more details, visit https://incfo.in or contact us at 08929449595/support@incfo.in

Click on this Link https://calendly.com/incfo/15min For 15 mins Free Consulation!

Subrato Mukherjee

I am Professional CA with experience of more than 10+ years. My aim is to help startups and companies to help in various financial needs which is needed to expand the business.

View all posts

1 comment

Your email address will not be published. Required fields are marked *

  • thankyou so much for sharing this information. this article has clarified my knowledge of a company. after surfing the internet for almost 2 hrs i found this article giving complete knowledge on the various compliances. keep writing.

Subrato Mukherjee

I am Professional CA with experience of more than 10+ years. My aim is to help startups and companies to help in various financial needs which is needed to expand the business.

Categories

shares