ANNUAL FILING FOR ANY TYPE OF COMPANY
What is Annual Filing?
As per the Companies Act, 2013 every company is required to file the annual accounts and annual return within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. It is mandatory for every company who are incorporated or registered in the ministry of corporate affairs has to file the Annual report, either its public limited or private limited. Annual filing includes all the documents related to filing financial statements and other information like registered office address, shares and debentures details, registered members and all information about the company.
The compliance requirements are complex with each falling on different due dates and failing to meet them in a timely manner can greatly impact a company. This may include paying heavy penalties or the companies and their directors getting blacklisted for a short period of time.
Every year, you are supposed to update the annual return companies regularly. At Legal Convoy we have a panel of experts handling all the matters of annual filing with proper documentation and follow up.
Advantages of Annual Filing:
1. Monitoring operations procedures within the company.2. Allowing managers to use the reports to review and corrective actions that are not effective.
3. Supplying upper management important information to make decisions.
4. Offering insight into the attitude and motivations of their employees.
5. Providing employee performance evaluations to determine that work is being done properly and efficiently.
6. Evaluating investment proposals.
7. Improve operational performance
Forms required to be filed for Annual filing:
1. ROC Form MGT 7: which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. Due date for ROC Form MGT 7 would be 60 days from the conclusion of AGM.
2. ROC Form AOC4: which contains details and annexure relating to Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 30 days from the conclusion of the AGM.
3. < ROC Form ADT 1: It is filed for auditor appointment. The due date for ROC Form ADT 1 would be within 15 days from the conclusion of AGM.
Procedure for Annual Filing:
1) The first step is to obtain a Digital Signature Certificate (DSC) by all the Directors. Documents required to obtain DSC are:
- PAN Card of the Director
- Aadhar card of the Director
- Photo
- Email ID
- Contact Number
2) After obtaining DSC, the next step is to obtain the Director Identification Number (DIN) by filing form DIR-3 along with a self-attested identity proof, address proof and a photo. (If directors are more than three as DIN for up to three directors can be obtained through Spice+ Inc-32).
3) Submit Documents- Complete checklist of the documents required is to be submitted at the earliest.
4) Notice, Director Report, Forms are prepared- All the documents and forms required to be prepared for annual filing shall be prepared by our experts.
5) You receive Acknowledgement- After filing of all the forms along with the required annexures on Ministry of Corporate Affairs (MCA) portal, you will receive the acknowledgement receipt.
Documents required for Annual Filing:
1. Name of Company
2. Complete Financial Statements along with cost statement (if any)s
3. Statutory Audit Report
4. Board Report
5. Digital Signature of directors