Every Company registered under the Companies Act, 2013 or the Companies Act, 1956 is required to file their Financial Statements in e-Form AOC-4 including Directors Report along with other relevant attachments (Annual Report) and Annual Return in e-Form MGT-7 within 30 days and 60 days respectively from conclusion of its Annual General Meeting (AGM).
All companies registered whether as a Private Limited Company, One Person Company, limited company, and section 8 company shall file with MCA annual return and income tax return each year.
Every Company except One Person Company (OPC) is required to conduct its Annual General Meeting (AGM) every year within 6 months from the end of each financial year commenced from 1st April and ends on 31st March. First AGM shall be held within 18 months of its incorporation or within 9 months from the end of first FY, whichever is earlier i.e. for newly incorporated companies.
The due date for filing MGT-7 is 60 days from the date of the Annual General Meeting (AGM). The due date for conducting AGM is on or before the 30th September following the end of a financial year.
Annual return (Form- MGT-7) consists of the following information and documents:-
- Balance Sheet of the Company, Profit & Loss Account
- Compliance Certificate, Registered Office Address
- List of shareholders and shareholding structure of the company
- Details of transfers &/or Transmission of securities
- Shares and Debentures details
- Changes in Directorship
The Signing of MGT-7:-
Annual Return shall be signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice. However, in relation to One Person Company and small company, the annual return shall be signed by the company secretary, or where there is no company secretary, by the director of the company.
The Penalty for Not Filing MGT-7:-
MCA has notified, the Companies (Registration Offices and Fees) Second Amendment Rules 2018 on 7th May 2018.
Now, the late fee for filing Annual Return under Section 92 and Annual Financial Statement under Section 137 after due is Rs. 100 per day with effect from 01st July 2018.
MCA has given an opportunity to the stakeholders to complete their pending filing by implementing the late fee with a prospective date of 1st July 2018.
Now late fee for filing Annual Return under Section 92 and Annual Financial Statement under Section 137 after the due date is as follows:
Due Date of Filing Forms Additional Fee
Expire after 30th June 2018 MGT-7, AOC-4, AOC-4 XBRL and AOC-4 CFS Rs. 100 per day after the expiry of due date
Expired on 30th June 2018 MGT-7, AOC-4, AOC-4 XBRL and AoC-4 CFS Rs. 100 per day from 01st July 2018
Already Expired before 30th June 2018 23AC, 23ACA, 23AC XBRL, 23ACA XBRL, 20B, 21A under Companies Act, 1956 and
MGT-7, AOC-4, AOC-4 XBRL and AOC-4 CFS under Companies Act, 2013
1. As per the applicable slab for the period of delay up to 30th June 2018 and
2. Rs. 100 per day from 01st July 2018