Annual Compliance of Company

Any company including One Person Company (OPC) registered in India, whether they are private limited or a single person company, must file their MCA returns. But filing an MCA return is not decision of one individual. It requires an annual general meeting that must be held within six months of the end of financial year. However, in case of new companies, the annual general meetings should hold within 18 months from the date of registration. Usually, a company files MCA returns in three forms.

1.MCA Form MGT 7: 

The MCA MGT 7 includes the details of the shareholding structure. It also includes details such as a change in directorship, details of transfer of shares, and many more. The due date for filing MCA Form MGT 7 is 30th November, which is 60 days after the conclusion of annual general meeting. 

2.MCA Form AOC4: 

It contains details about the company's balance sheet, profit loss, accounts, compliance, certificates, members, shares, debenture details, and many more. Due date for filing MCA Form AOC4 is 30th October that is thirty days after the AGM.

3.MCA Form ADT1:  

it is a form filed for appointing auditors. Due dates for filing MCA Form ADT1 is 14th October. That is 15 days after the AGM

If any company fails to file its MCA filing within the due dates, then a penalty of INR 200 shall keep on adding the return until the payment is made.

MCA this year has come up with an attractive scheme for the defaulters. The scheme is known to be CFSS. CFSS is a company fresh start scheme that allows all the defaulters to file a return without penalty. It is a relaxation for all those defaulters who have not yet filed their MCA annual company filing. Now they can pay their default amount by filing the MCA forms.

Company's annual return comprises various documents that include a balance sheet, profit loss, accounts, compliance, certificates, debentures, details, office address, registered address, shares, and many more. The annual returns also disclose the shareholding structure and directorship of the company. Filing company annual returns also have many benefits.

1) Enhancing your operational performance

2) Increase your credibility

3) Avoiding penalties

4) Abiding by all the IT Act and laws.

Various elements make your MCA annual filing even easier. 

1.Accounting:

It is an essential part of every company. Accounting in a company helps it to abide by all the compliances. It helps a company comply with the statutory audit, annual filing, income tax returns, and many more. We will take care of your companies accounting to help you file annual returns easily. We also prepare the balance sheet and profit loss account for the year. 

2.Statutory Audit: 

All the companies registered as private limited companies must have their books of accounting. The books of accounting can only be audited by hiring a Chartered accountant. We will eliminate all the hassle of searching for a Chartered accountant. we will help you with all the accounting services that are done by the best chartered accountant

3.Annual filing forms: 

Any company registered In India must file three MCA forms every year. The filing must be done as per the documents of the financial statement. It includes a balance sheet, P&L accounts, and annual returns MCA MGT 7, company report about auditor's appointment, and may more.

4.MAT Audit:

For all the companies registered in India, it is compulsory that they must get their account audited under MAT. MAT is a minimum alternate tax. The chartered accountant in the form 29B reports that the MAT has been audited as per the IT Act 1961. We will help you et your books audited under MAT. It will help you file your company's return easily.

5.Income Tax Audit:

Under section 44AB of IT Act, 1961, all the companies registered as a private limited company or one person company have to get their tax audited as per their annual turnover. We have an association with CA firms that will help you with your income tax audit.

6.ITR filing:

All the companies in India must file their income tax returns every year. Every amount paid as advance tax in the form TDS or TCS will be under tax dues till you file your returns. We help you in easy filing of your returns. Thus, it helps your company to comply with all the Income Tax laws.

7.GST Annual Return:

All the companies in India having GST Registration number must file their GST Annual returns every year. We help you in easy filing of your returns. Thus, it helps your company to comply with all the GST Tax laws.