Company Annual Filing

Introduction

Each registered company is legally required to complete Company Annual Filing every year. For every type of company, like Private Limited, Public Limited, OPC or LLP, it is required to file annual returns and financial statements regularly at the Ministry of Corporate Affairs. Not providing these papers can result in severe fines as well as the disqualification of those responsible.

We make the entire process easier by offering unique annual filing solutions that fit your company’s structure and requirement.

What does Company Annual Filing mean?

The process of Company Annual Filing includes the submission of yearly financials and return filings to the MCA by a company. The government and all interested parties are able to review these filings to see the company’s financial state, day-to-day business activities and if they are following guidelines.

Important parts of annual filing are:

• AOC-4: Transferring of financial statements (balance sheet, profit and loss account, auditor’s report and others)
• MGT-7 and MGT-7A: Annual file that provides company information, the company’s share structure and recent changes in directorship.
• Company directors need to comply with DIR-3 KYC.
• Should there be one, ADT-1 will cover the role of appointing internal or external auditors.

What is the reason for requiring Company Annual Filing?

• The Companies Act, 2013 requires companies to file annual returns every year. This is why this meta-analysis is important:
• Avoid facing legal penalties, actions and getting disqualified from the competition.
• Following the timeline for filing builds the credibility of the company in the eyes of banks, investors and vendors.
• Financial Transparency provides a record of the company’s finances and how it is controlled.
• Helps in Attracting Investors Confirms the company’s dedication to following the rules and thus helps attract investments.
• Late filing leads to daily penalties which can quickly add up and become quite high.

Eligibility Criteria

Every year, the companies below are required to submit their annual returns:

• Private Limited companies
• Companies that are listed as Public Limited Companies
• Small firms that run as One Person Companies (OPC)
• Non-Profit Companies
• Producer Companies

When referring to LLP filing, it is called a Limited Liability Partnership (LLP).

No matter if the company has carried out any business in the year, it must still comply annually.

Documents Required

These are the general documents your company should have available every year:

• Mark the process by obtaining a Certificate of Incorporation (COI)
• Memorandum and Articles of Association
• The PAN is Company’s short name.
• Balance Sheet, P&L Account and Cash Flow Statement (also known as Audited Financial Statements)
• An audit is carried out by a Chartered Accountant as per the Audit Report.
• Resolutions adopted by the board or Annual General Meeting (AGM) (if or when necessary).
• Details about whose names appear in the Directors’ list and in the Shareholders’ list
• DIR-3 requires KYC documents including a PAN, Aadhaar, an Email ID and a working phone number.
• The Company’s Digital Signature Certificate (DSC) is required from its directors.

Step-by-Step Process for Company Annual Filing

The process works like this when you use Lawchef:

• Step 1: You need to collect data
  Gathering all the relevant papers such as financials, resolutions and documents on directors, is done at this stage.
• Step 2: Get the required forms for identification and address
  As required, our professionals make e-forms like AOC-4, MGT-7/7A, DIR-3 KYC and ADT-1.
• Step 3: Audit and review
  CA or the one empaneled by us will conduct the audit and offer the audit reports if they are not provided already.
• Step 4: Digital signature and submits it
  We use DSCs to add our digital signatures and transfer the forms to the MCA website.
• Step 5: Recognize the Volunteers & Submit Report
  When your submission is approved, we offer you acknowledgment and a compliance report to keep on file.

Timeline

Standard Timeline for Annual Filing:

Note: AGM must be held within 6 months of financial year ending (i.e., by 30th September)

Fees and Costs

Pricing is low and fully transparent to you.

• All capital increases must come with Government Filing Fees and these vary according to the amount being raised.
• ROC charges for AOC-4 and MGT-7 are between ₹300 to ₹600 according to the company’s capital.

Our Prices for Professional Services

• For small companies, the company registration starts at ₹3,500
• Medium and large companies may have to pay an amount ranging from ₹6,000 to ₹12,000.
• Specialized plans for companies who are members of the same group
• Get in touch with the company and request a quote for TDS returns, GST filing or secretarial services.

Penalties for Non-Compliance

Failing to file annual returns can be costly:

Why Choose Us?

• Certilize has experts in compliance who deal with your legal issues.
• Expert CAs, CSs and Lawyers
• Services Handle Both the Paperwork and Compliance Tasks
• Timely reminders help you avoid any overdue work
• All the services come at reasonable prices with no fake fees.
• I offer my service across the country with no paper needed.
• All the way through your project, get exclusive help from our support team.
• Allow us to manage your company’s compliance as you concentrate on expanding your business.