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What if you have not complied with your roc filing within due date?

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If your company is doing business in India, you are required to file certain documents with the Registrar of Companies every year. Failure to comply results in penalties and fines for the directors or the Company. Here we will give you an idea of what are the basics of roc filing for the company and what could be the consequences for non-compliances within the due date.

Basics of roc filing for the company in India

Form AOC-4 – Financial Statements & Other specified Documents

Every company shall mandatorily file its financial statements and other specified details in Form AOC-4 every year. Financial statements shall be filed with roc within 30 days of AGM, If AGM is not held within due date then also Financial statement shall be filed within 30 days of the date on which AGM was supposed to be held. If the company has revised its financial statements then revised statements shall be filed with the registrar through form AOC-4.

Form MGT-7 – Annual Return

During ROC filing for company Form, MGT-7 is filed which contains financial information of the company. Below is included in Form MGT-7 is:

  • Details of registered office, principal  activities, holding, subsidiary and associate companies;
  • Share, debentures and pattern;
  • Indebtedness;
  • Members and debenture-holders along with changes in the pattern since the close of the previous financial year;
  • Promoters, directors, key managerial personnel along with changes in the pattern since the close of the previous financial year;
  • Meetings of members or a class thereof, Board and its various committees along with attendance details;
  • Remuneration of Directors and key managerial personnel;
  • Penalty or punishment imposed on the company, its Directors or Officers and details of compounding of offenses and appeals made against such penalty or punishment;
  • Matters relating to certification of compliances, disclosures as may be prescribed;
  • The shareholding pattern of the company; and such other matters as required in the form.

So, What if you have not filed the roc forms as prescribed above by due date. You basically will have to face the interest and late roc filing fees which will double your expenditure of filing from originally what it should have been. If you are thinking that you will shut the company not pay the fine that is not possible. Once you incorporate a company, it becomes mandatory for you to comply with the company laws. You have to follow the procedure of shutting down the company, which is the only way you can get away with the responsibilities under company laws. Therefore it is always best to take advisory of professionals about the compliance that you shall be following after incorporating the company.

Summary: You incorporated a company, it becomes your duty to comply with the law of the company. It is better to be aware beforehand rather than paying late roc filing fees.

Company-Annual-Filing

What are the late roc filing fees if a company fails to file the roc forms within due date

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Form AOC-4 – Financial Statements & Other specified Documents and Form MGT-7 – Annual Return are to be filed by every company doing business in India. These forms are to be filed every year.

Every company shall mandatorily file its financial statements and other specified details in Form AOC-4 every year. Financial statements shall be filed with roc within 30 days of AGM, If AGM is not held within due date then also Financial statement shall be filed within 30 days of the date on which AGM was supposed to be held. If the company has revised its financial statements then revised statements shall be filed with the registrar through form AOC-4. The expenses you will need to incur for roc filing will be specified roc filing government fees and some professional charges you will pay to your advisor or a professional through whom you are getting your documents filed.

Roc filing Government fees  for Filing Various Documents or For Registering any Fact Under Companies Act, 2013 (Except for Form No SH. 7 (alteration of share capital))

For companies having share capital

Nominal share capital                                                                                                     Fees per document

Less than 1 lac                                                                                                                   Rs. 200

1 Lac to  less than 5 Lacs                                                                                                 Rs. 300

5 lacs to less than 25 Lacs                                                                                               Rs. 400

25 Lacs to less than 1 crore                                                                                             Rs. 500

1 core or more

For companies not having share capital

Rs.200 per document

Late Roc filing fees as below:

Period of delays                                                                                                               For all forms

Upto 30 days                                                                                                      2 times normal fees

31 to 60 days                                                                                                      3 times normal fees

61 to 90 dyas                                                                                                      6 times normal fees

91 to 180 days                                                                                                    10 times normal fees

More than 180 days                                                                                        12 times normal fees

Summary: why pay extra fees when you can get your compliance done without any hassle. Reach out to caonweb for all your business compliance needs.

LLP annual-filing-llp

What is the process for LLP annual filing or roc filing with the registrar

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Regarding ROC filing LLP, Every Limited Liability Partnerships (LLPs) which are registered with the Ministry of Corporate Affairs (MCA) have to file the Annual Returns and financial statements. Once you have incorporated your LLP then you shall comply with the filing requirement. It doesn’t matter whether your business is in operation or what your turnover is. for example, you incorporated your company in mid-March-18, here you shall do the fling for the Financial year 2017-18 irrespective of the fact that your operation is not yet started in March.

If you are an LLP, below is what you shall comply with roc filing LLP requirement:

LLP annual filing: Annual Returns in LLP Form 11 is a detail of partners, any restructuring or any changes details. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year which means the filing of annual return of LLP to be done on or before 30th May every year.

Form 11 or Annual Return is Applicable for LLPs registered till the 30th September 2017. If your LLP is registered on or after the 1st October 2017 you do not need to LLP Form 11 in  2018.

Filing the financial statements and profit and loss accounts. LLP Form 8 is applicable in this case and it has to be filed with the Registrar of LLPs on or before 30th October every year

Form 8 or Annual Statements for the year 2018 is applicable for LLP registered till the 30th September 2017. If your LLP is registered on or after the 1st September 2017 then you do not need to file Form 8 in  2018.

If you have not filed the roc forms as prescribed above by due date. You shall pay the interest and late roc filing fees which will unnecessarily increase your expenditure of filing from originally what it should have been. If you are thinking that you will shut the LLP and not pay the fine that is not possible. Once you incorporate an LLP, it becomes mandatory for you to comply with the filing laws. You have to follow the procedure of shutting down the LLP, which is the only way you can get away with the responsibilities under laws. Therefore it is always best to take advisory of professionals about the compliance that you shall be following after incorporating the LLP.

Summary: All LLPs go to CAONWEB and give your compliance worries to professionals or consultants there, you focus on your business and let the advisor focus on your filing compliance requirement.

Annual-filing

Company Secretarial Service is Mandatory: ROC Filing for Company

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Roc filing means filing certain documents of companies like the shareholding pattern, details of directors, financial statement to the Registrar of the companies. It is mandated by the company laws. Accounts department is significant for any businesses. Financial planning done is a careful and well-planned manner helps a business face any sort of challenges and let the business prosper. Without proper financial planning, businesses can face doom and this is something you can avoid setting up an excellent team of accounts people. Accountants at Caonweb offer all kinds of ROC filing for company. From startup to already established organization company secretarial services are available, the professional accountants, company secretaries, chartered accountants at Caonweb are fully equipped to offer you real-time services offline or online.

Managing your compliance services is best done by experts in corporate laws and tax and who else can you think of other than Chartered Accountants and company secretaries when it comes to managing your compliance issues. For smaller- and medium-sized companies company secretarial service arrangement may not sound feasible one However with CAONWEB it all can be done with affordable roc filing fees. Especially if you are a startup, it is always better to handover the compliance responsibilities to experts, otherwise, there are chances that you may face interest and penalties. You should focus on your business activities and get the worries of compliance transferred to the professional, this way you will be able to give more time to your business and there will be no issues on regulatory parts.

Summary: roc filing for the company is mandatory for all companies doing business in India.

Annual return

Is annual filing in India mandatory for company?

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I incorporated my company last week of March 2018 do I need to comply with the annual filing requirement? Yes, you shall comply with the annual filing for the financial year 2017-18. All the companies doing business in India are required to file a financial statement and specified documents with the government authorities according to the requirements of the Companies Act of 2013 and other applicable laws.

A private limited company is required to file the required documents with Registrar of companies every year. It is mandatory for every company incorporated in India, including subsidiaries of foreign companies, joint venture companies.

To summarize annual Roc filing:

Private Limited Companies are required to file its Annual Accounts and Returns disclosing details of its shareholders, directors etc to the Registrar of Companies.

As a part of Annual Filing in India, the following forms are to be filed with the ROC:

  • Form MGT-7 (Annual Return): Every Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting.
  • Form AOC-4 (Financial Statements): Every Private Limited Company is required to file its Balance Sheet along with the statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting

At CAONWEB online your filing can be done at the best price in India, You will get to interact and ask any questions related to an annual filing with ROC, you can interact directly with our professionals, without any initial fees. Skipping or delay in filing will only increase your cost and there is no way to escape from mandatory filing once you have your company registered.

If a Company fails to comply with the rules and regulations of the Companies Act, then the Company and every officer who is in default shall be punishable with fine for the period for which default continues. If there is the delay in any filing, then additional fees is required to be paid, which keeps on increasing as the time period of non-compliance increases. It should be noted that some of the Annual Filing Forms can also be revised but the fees for subsequently revised filing shall be charged, assuming it as a new filing.

Summary: If you are doing business in India, you have to comply with the annual filing requirement and file an annual return with the ROC, It doesn’t matter if your turnover is zero or you are not into operation.