All about Annual Filing for Private Limited Company in India

  • September 03, 2016
  • Dushyant Sharma
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Annual Filings with ROC and other requirements

All the companies running their business in India are mandated to file certain documents and paper with the government authorities as per provision of the Companies Act of 2013 and other applicable laws.

Key points of Annual Corporate Filings in India

private limited company has to file the required documents with ROC annually. It is also required to file Income Tax return. Both are the different requirement of different laws. Sometimes, most of the people get confused that annual filing under companies act and Income Tax Return (ITR) are the same things but it's not the case. Though both are annual exercise but governed by different legislation altogether. ITR is filed to show how much taxable income you have earned in the given financial year and how much tax you have paid whereas annual filing of the financial statements with Registrar of Companies (ROC) is presentation of financial statements to the regulatory authority so as to make them aware on how the private limited company is being run. Annual Corporate filing is a detailed one in one go through the financial statement thoroughly then he can come to know the various details about the facts about the company whether quantitative or qualitative.

Annual filing of the companies in India under companies act is done through online. There is no physical form submission. Everything is done through by filing an e-form.

Annual filing under the companies act has been broken up into two types; one is filing of the financial statement such as balance sheet, profit & Loss account and cash flow statement, and annual return.

Filing of Financial statements

Financial statements include as we said earlier, Balance sheet, Profit & Loss account and annual return. Since it pertains to financial statement, therefore, this includes most of the financial data extract from the balance sheet and profit & loss account.

These financial statements are filed in form AOC-4 and consolidated financial statement in AOC-4 CFS within 30 days of the date of the annual general meeting (AGM) and if the company could not hold the AGM, then with 30 days of the due date of AGM

Can financial statement be revised?

Answer of this question is definitely positive if directors comprehend that the financial statement of the company or boards report does not comply the relevant provisions of the companies act, 2013 then they can revise the financial statements or board's report of the three preceding financial years after getting approval of the National company Law Tribunal (NCLT).

Filing of the annual return

An annual return is a snap-shot of certain company information as they stood on the date of the financial year. It is perhaps the most important document required to be filed by the private limited company with the ROC. Apart from the financial statement, this is the only document which is compulsorily filed with ROC every year irrespective of any event or happenings in the company. While financial statements give information on the financial performance of the company , it is the annual return which gives detailed disclosure and deep insight of the non-financial information of the company viz. operations of the private limited company, funding, control and management.

In nutshell, it is crisp report of the significant non-financial information about a company for the benefits of the stakeholders.

Filing of the annual return yearly with the registrar of companies is obligation of the management of the company. It helps the stakeholders to ensure that the company is administered in a proper manner.

What are details you need to fill in annual return form?

An annual return must contain the following information regarding the company and its management as on the close of the financial years:

  1. Its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
  2. Its share, debenture and other securities and shareholding pattern;
  3. Its debt
  4. Its members and debenture-holders along with changes therein since the close of the previous year;
  5. Its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year;
  6. Meetings of members or a class thereof, board and its various committees along with the attendance details;
  7. Remuneration of the directors and key managerial personnel (KMP);
  8. Penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishments;
  9. Matters relating to the certification of all the compliances, disclosure as may be prescribed;

The annual return is filed with ROC within 60 days of the date of AGM in Form Number MGT-7.

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Dushyant Sharma
Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.

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