Company Annual Filing
Every company that is registered in India, regardless of its status—private limited, public limited, section 8, or one person—is required to file an income tax return and an MCA annual return annually.
All companies must hold their annual general meeting (AGM), except one person companies (OPCs).
To stay in compliance, businesses must hold an annual general meeting at the conclusion of each fiscal year and submit an annual report to the Ministry of Corporate Affairs (MCA). The Annual General Meeting of recently incorporated companies must take place within nine months of the financial year’s end or within eighteen months of the date of incorporation, whichever comes first. Six months after the end of that fiscal year, there will be a second annual general meeting. The Indian fiscal year typically begins on April 1st and ends on March 31st. Thus, the deadline for a company’s annual return would be September 30 at the latest.
Form MGT-7, the annual return, includes the following documents and data
- The company’s balance sheet and profit and loss account
- Certificate of Compliance and Registered Office Address
- The company’s shareholding structure and list of shareholders
- Information about transfers and/or securities transmission
- Details of Shares and Debentures
- Directorship Shifts
NOTE– Signing- A director and the company secretary, or in the absence of a company secretary, the actual company secretary, must sign the annual return. On the other hand, the annual return for a one-person corporation or small business must be signed by the company secretary, or the director in the absence of a company secretary.
NOTE: The Companies Act of 2013 has provisions about Annual Return in Section 92.
(1) All companies must use Form No. MGT 7 to prepare their annual returns.
(2) A company secretary in practice must certify the annual return submitted by a listed company, a company with a paid-up share capital of ten crore rupees or more, or a company with a turnover of fifty crore rupees or more. The certificate must be in Form No. MGT 8.
Regardless of income, profit, or loss, businesses must file an income tax return in addition to their MCA yearly filing. For this reason, every year, even inactive businesses with no transactions must file an income tax return. Form ITR-6 must be filed by one-person businesses, limited firms, and private limited companies. A company’s income tax return must be filed by September 30th at the latest.
For small and medium-sized businesses, Professional Utilities offers a full cloud-based ICFO and compliance management solution. Financial statement preparation, secretarial services, filing income tax returns, and filing MCA annual returns are all included in our compliance services. based on what’s needed as your company grows.
How we help with company annual filing
Taxcult may assist in keeping your company compliant with the Ministry of Corporate Affairs each year and in filing the required annual return. To start securely and easily managing your company’s compliance, get in contact with a professional utilities advisor.