Many incorporate company however are not aware of the compliances they should be following up post company incorporation. Due to no professional guidance and other factors they end up facing huge interest and penalty. There are various compliance which are mandatory for companies such as appointment of auditor, holding of board meeting and AGMs, maintaining books of accounts, filing of forms with the registrar. Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting.
Regarding Annual filing requirement, the company is required to file Balance sheet and Statement of Profit and loss attaching audit report within 30 days from AGM (in case of one Person Company 180 days from close of financial year). Annual return is also filed by company which contains the details such as business activities of the company, capital structure, details of directors/shareholders etc. Annual return is to be filed within 60 days of AGM.
Lets see the dates to comply for financial year 2017-18:
Say AGM will be on 30th Sep-18
i. 15th Oct-18: ADT-1 for appointment of auditor
ii. 30th Oct-18: AOC-4 for Filing of Balance sheet, Profit and Loss and audit Report
iii. 29th Nov-18: MGT-7 for filing annual return.
If you are wondering about the AGM requirements under company laws, We will give you an understanding for same, As per companies Act ,2013 Company shall held its first AGM within nine months from the date of closing of the first financial year of the company and subsequent AGM shall be held within a period of six months from the date of closing of financial year.
This is very important for all those companies newly incorporated who may not be aware of the fact that they need to comply with the roc filing. Even if your company was incorporated just before the financial year end, you shall file the roc for financial year 17-18. For non-compliance will have the effect of huge interest and penalty. It is always better to take advice of professionals and comply with the annual filing in India or roc filing mandated by company laws.
Summary: Get your annual filing requirement completed for financial year 2017-18, It is mandatory for all companies irrespective of turnover or the level of operation.