Simplified Private Ltd. Annual Return Filing
Our tailored solutions simplify annual return filing for private limited companies, ensuring seamless compliance with obligations.
* Exclude Govt. Fee .
Overview
All Companies registered under the Companies Act, 2013 or erstwhile Companies Act are required to file Copy of Financial Statements along with Board Report of the Company mandatorily on annual basis through e-form AOC-4 and are also required to file an annual return (in e-form MGT-7/MGT-7A) mandatorily on annual basis.
Financial Statement of the Company
- Reflect True & Fair view of the state of affairs of the Company.
- Be in accordance with accounting standard notified by the Central Government.
- Should follow instructions given in Schedule III of the Act.
Board Report of the Company
Some of the particulars which are mentioned in Board Report are given below:
- State of Affairs of the Company;
- Any transfer of amount to reserve;
- Recommendation of Dividend;
- Material changes throughout the year;
- Corporate Social Responsibility Policy if any;
- The web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed; Number of meeting of the Board;
- Statement on Directors Responsibility.;
- Details of Fraud if any;
- Statement of declaration of Independent Director;
- Explanation on comments of Statutory of secretarial auditor given in its report;
- Particulars of loans, guarantees or investments;
- Particulars of contracts or arrangements with related parties in Form AOC-2;
- Particular of Energy Conservation, Technology Absorption, Foreign Outgo etc.
Annual Return of the Company
Annual Return of the Company is primarily summary of all activities of the Company during the financial year for which annual return in being filed.
As per section 92 of the Act “Every company shall file its annual return in Form No.MGT-7except One Person Company (OPC) and Small Company. One Person Company and Small Company shall file annual return from the financial year 2020-2021 onwards in Form No.MGT-7A.
The annual return, filed by a listed company or a company having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more, shall be certified by a Company Secretary in practice and the certificate shall be in Form No. MGT.8
Annual Return includes
(a) its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
(b) its shares, debentures and other securities and shareholding pattern;
(c) its members and debenture-holders along with changes therein since the close of the previous financial year;
(d) its promoters, Directors, key managerial personnel along with changes therein since the close of the previous financial year;
(e) meetings of members or a class thereof, Board and its various committees along with attendance details;
(f) remuneration of Directors and key managerial personnel;
(g) penalty or punishment imposed on the company, its Directors or officers and details of compounding of offences and appeals made against such penalty or punishment;
(h) matters relating to certification of compliances, disclosures as may be prescribed;
(i) details, as may be prescribed, in respect of shares held by or on behalf of the Foreign Institutional Investors 6[Omitted]; and
(j) such other matters as may be prescribed,
What is included in this
FAQs
In accordance with section 137 of the Companies Act, 2013 every Company is required to submit its financial statement, including consolidated financial statement, within 30 days from the date of Annual General Meeting.
Consolidate Financial Statements are presentation of combined accounts of Company with its subsidiary or associates.
As per section 129(3), when Company has one or more:
- Subsidiaries Company
- Associate Company
Such Company shall file:
- Standalone Financial Statement of the Company
- Consolidated Financial Statement of the Company
Earlier this provision was applicable on Companies which are having subsidiaries but Companies (Amendment) Act, 2017 which got effective from May 7, 2018 includes “Associates” in the purview and Companies are now required to consolidate accounts of both subsidiary and associates.
Company having KMP:
- Chairperson (If authorised by board)
- Two Director, one to be Managing Director, (if any)
- CEO
- CFO & CS
Company not having KMP:
Any two Directors on behalf of Board
Companies are required to submit financial in below manner:
- E Form AOC-4: Financial Statements
- E Form AOC-4 CFS: Consolidated Financial Statement
For NBFC Companies complying IND AS:
- E Form AOC-4 NBFC (IND AS): Financial Statements
- E Form AOC-4 CFS NBFC (IND AS): Consolidated Financial Statement
As per section 137(3) of the Companies Act, 2013 penalty will be imposed as below:
Company & its Officer in Default (In particular MD and CFO if any): Penalty of Rs. 1 lakh with per day Rs. 100 maximum upto Rs. 5 Lakh
For continuing default: Further penalty of Rs. 1000 per day subject to maximum Rs. 10 Lakh. In addition to monetary penalties, the Act also provides for imprisonment of the defaulting officers for a term which may extend to 6 Months
Annual return MGT 7 is an Eform which is filed online with Registrar of Companies at www.mca.gov.in
- Company having Company Secretary: Director & Company Secretary
- Company not having Company Secretary: Director & company secretary in practice
As per section 92(2) of the Act, below given Companies are required to attach to their Annual Return, a certificate from a Company Secretary in Practice regarding Compliance of the Company.
- All Listed Companies
- Company having paid-up share capital of ten crore rupees
- Company having turnover of fifty crore rupees or more
Format of Certification will be in Form of MGT 8 which includes certification on compliances like:
- Filing of Forms and Return within prescribed time limit.
- Maintenance of registers/records & making entries therein within the time prescribed
- Appointment/resignation of Director, KMP, Auditor
- Loans and investments or guarantees given or providing of securities to other bodies corporate or persons falling under the provisions of section 186 of the Act
- Alteration of the provisions of the Memorandum and/ or Articles of Association of the Company etc.
- If Annual General Meeting of Company held: Annual Return to be filed within 60 days from the date on which Annual General Meeting was held
- If Annual General Meeting of Company NOT held in any year: Annual Return to be filed within 60 days from the date on which Annual General Meeting should have held and annual return should be filed with reason for not holding Annual General Meeting
As per section 92(5) of the Act, penalty will be imposed as below:
- Company & its Officer in Default: Penalty of Rs. 50,000
- For continuing default: Further penalty of Rs. 100 per day subject to maximum Rs. 5 Lakh.
