A company *incorporated on or after 02.11.2018* and having a share capital shall commence any business or exercise any borrowing powers only after complying the requirements as per Act. This declaration has to be filed by the company within a period of 180 days of the date of incorporation of the company in Form No. INC-20A. If a company makes any default in complying with the above requirements, the company shall be liable to a penalty of INR 50,000/-
As per Ministry of Corporate Affairs, if any person has been allotted “Director Identification Number” and the status of such DIN appears to be Approved then such Director needs to file a form to update DIR-3 KYC details in the system. Disqualified directors are also required to file form DIR-3 KYC.
With a spate of corporate irregularities coming to the fore, the Centre has decided to make disclosure norms more stringent. Corporate India is now required to submit details of transactions involving the receipt of money or loans taken by them, which are otherwise not considered deposits.
Every company shall on or before the 30th day of June, of every year, file a return of deposit with the Registrar and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.
Companies must also file income tax return irrespective of income, profit or loss. Hence, even dormant companies with no transactions are required to file an income tax return each year. Private limited companies, limited companies, and one person companies would be required to file Form ITR -6
The due date for filing income tax return – 30th of September (The penalty for Late Filing Income Tax Return Rs 10,000)
As per Section 96 of the Companies Act, 2013: Every Company, other than One Person Company (OPC), must hold a general meeting in each year apart from other meetings as Annual General Meeting (AGM). The AGM must be held within six months from the closing date of the financial year.
The Directors’ Report should be submitted covering all information required for a small business in section 134 Statutory registers and accounting books
Form ADT- 1 is used by a company to intimate the registrar of companies about the appointment of an auditor after the completion of its annual general meeting (AGM).
Form ADT-1 must be filed with the registrar of companies within 15 days from the date of appointment of the Auditor. Example, if the company’s AGM was held on 30 September, then Form ADT 1 has to be filed by 15 October
MGT-7 is the form which is required file the Annual Return within 60 Days from the date of it’s Annual General Meeting (AGM). The due date for conducting annual general meeting is on or before the 30th September following the end of a financial year.
Due Date for filing the Form
Form MGT-7 is to be filed within 60 days from the date of the Annual General Meeting of the company.
Consequences of non-filing the form
In case of not in filing MGT-7 till due date, the penalty for default is Rs. 100 per day.
Every Company registered under the Companies Act, 2013 or Companies Act, 1956 has to prepare Financial Statements and is required to file these statements with MCA in Form AOC-4. Along with AOC-4 form, the documents such as Board’s report, Auditors’ report, Statement of subsidiaries in Form AOC-1, details of CSR policy etc. are filed within 30 days of a company’s annual general meeting for each Financial Year.
Due Date for Filing AOC-4
Form AOC-4 along with all the documents should be filed within thirty days of conducting an Annual General Meeting. In the case of OPC, the time period shall be taken as 180 days from the closure of the financial year as One Person Company does not have an Annual General Meeting.
Consequences of non-filing the form
In case of not in filing AOC -4 till due date, the penalty for default is Rs. 100 per day. Penalties
A company that does not submit an annual filing Rs 50,000-Rs 500,000.
Responsible for compliance Rs 50,000- Rs 500,000 or imprisonment for a period that may last up to 6 months
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