Warning for those who has not filed their annual account YET

 

 

All companies registered in India must file annual return each year, irrespective of business turnover or activity. Annual return must be filed in Form MGT-7 and Form AOC-4 is also filed along with the annual return.

Any person who is a shareholder or Director in a private limited company should take steps to immediately file any overdue compliance to prevent heavy penalty which would become due from 1st July 2018.there will be a very significant high penalty for not filing annual return from 1st July 2018.

Accordingly, in case the due date of filings under Section 92 or 137 (Annual Financial Statement) of the Companies Act, 2013 dead after 30/06/2018  the additional fee @Rs.100 per day shall become payable in respect of MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS.

Forms for annual return

Annual returns or balance sheet/financial statement which were due to be filed whether under the Companies Act,1956 (23AC,23ACA,23AC XBRL,23ACA XBRL,20B,21A)or the Companies Act, 2013 (MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS) additional fee as per the applicable slab for the period of delay up to 30th June 2018 plus @Rs.100 per day w.e.f 1st July 2018 shall become payable.

All companies in India as a part of their annual compliance. must be filed their Form MGT-7 & Form AOC-4

As per Companies Act, 2013 every Company have to file e-form MGT-7 within 60 from the date of Annual General Meeting ‘AGM’ and AOC-4 required filing with ROC within 30 from the date of AGM.

Statutory Fee for Filing Annual Return

Above Declaration, MCA has significant the heavy  penalty for not filing annual return of a company. The penalty for not filing annual return of a company after 1st July 2018 would be Rs.100 per day per form.

Since, a company must file both MGT-7 and AOC-4, the penalty would be Rs.200 per day for not filing annual return.

If a company that was incorporated under Companies Act, 1956 or Companies Act, 2013 has so far not filed its annual return, it can file annual return paying the reduced penalty under the old regulations upto 30th June 2018. From 1st July 2018, the penalty would be increased multi-fold to Rs.100 per day per form.

Period of Delay	Current Penalty	Proposed Penalty
Upto 15 days (sections 93,139 and 157)	Rs.400	Upto Rs.3000
More than 15 days and upto 30 days (Sections 93, 139 and 157) and upto 30 days in remaining forms.	Rs.800	Upto Rs.6000
More than 30 days and upto 60 days	Rs.1600	Upto Rs.12000
More than 60 days and upto 90 days	Rs.2400	Upto Rs.18000
More than 90 days and upto 180 days	Rs.4000	Upto Rs.36000
More than 180 days and upto 270 days	Rs.4800	Upto Rs.54,000
Delay beyond 270 days	Rs.100 per day	Rs. 100 per day per form

Filing Annual Return

Rajput Jain & Associates provides an easy and online process for Entrepreneurs to file their annual return and income tax return along with financial statement and board meeting documents preparation at very reasonable price .

Talk to an Rajput Jain & Associates  Advisor to know more and file Annual Return for your company easily.