Company Annual Filing Package
Annual filing includes e-filing of audited financial statements like Balance sheet (adopted at the AGM), Profit and loss account, Annual return of company having share capital, annual return of company without share capital.
The due date for filing the financial statements (balance sheet and profit and loss account) along with compliance certificate is 30 days from the date of Annual general meeting, whereas for e-filing of annual returns the due date is 60 days from the date of Annual general meeting. In situations where AGM is not held, from the date when the AGM should have been held will be taken into account.
The majority of small businesses do not fulfill compliance requirements in their opening years. The reasons may be lack of time, high professional charges and uncertainty over several aspects. Legitimate excuses, but they won’t be accepted by the Ministry of Corporate Affairs (MCA) if it decides to do something about it. Non-compliance may lead to huge penalties in lakhs and prosecution too.
Many businesses let their compliance requirements pile up, even though taking care of it involves much less effort than is often imagined. Staying disciplined from the initial days will be hugely helpful when looking for investment or a bank loan, as both would want to ensure that your business is in compliance with the MCA’s requirements.
Having a company secretary on call throughout the year is essential in ensuring that your business is run in accordance with the laws in force. Our team would keep you up-to-date with all the changes made by the MCA throughout the year.
Once you sign up with us, we will take care of the entire range of compliances. This will include the following:
- Getting the common seal and registers for the Company
- Preparing and printing share certificates
- Updating the statutory registers
- Drafting the notice, minutes and attendance sheets of the board meetings
- Updating the statutory registers, if required
- Drafting and filing directors’ disclosures of interest in other concerns
- Drafting and filing the approval of Financials and Directors
- Drafting and filing the minutes for appointing auditor
- Preparing and filing your Annual Return
- Drafting and filing the notice and financials of your Company
- Drafting the notice, minutes and attendance sheets for the Annual General Meeting
Fees – Our charges for Annual Compliance Services starts from Rs.9999/-.
Payment Terms – After Complete Documents preparation but before filing.
1. What is Annual Return?
Annual return is a mandatory filing to be made by all Companies in India. The filing along with the required documents must be filed with the Ministry of Corporate Affairs. Filing of annual return with the MCA is different from the filing of annual return with the Income Tax department.
2. What information is contained in the annual return?
Annual return consists of the balance sheet of the company, profit and loss account, compliance certificate (if necessary), details of registered office, details of Members, details of shares and shareholding and details of Directors.
3. Who should sign the Annual Return?
The Annual return of the Company must be signed by the Directors of the Company. The financial statements filed along with the Annual return must be audited and signed by a Chartered Accountant.
4. When is the due date for filing Annual Return?
Annual return is due before the 30th of September or 6 months from the end of the financial year. In case of newly incorporated Company, an Annual General Meeting should be held within 18 months from date of incorporation or 9 months from the date of closing of financial year, whichever is earlier and an annual return should be filed with the MCA.
5. What is the procedure for filing Annual Return?
Annual return can be prepared and filed by a Professional online through the MCA’s E-Filing portal. A ComplianceIndia Financial Expert can help you with e-filing your Company’s annual report.
6. What is the penalty for non-filing of annual return?
If a company fails to file annual return with the Registrar of Companies (RoC) within the specified time, then the Company shall be liable to pay a penalty till filing of the return. The amount of penalty will depend on the number of days in default. till the default continues.