Annual ROC Compliance - ROC Annual Compliance
Running of company was used to be an easy process under Companies Act, 1956 as registrar of company (“ROC”) did not use to take any strict action against defaulter, but Under new company law there are stringent penal provisions for non-compliance and in case of default; company, as well as key managerial personnel, are liable to heavy penalty in monetary terms and other non-monetary penal consequences also. Hence, it is necessary that the compliances met with on time in order to avoid penalties or additional fees To avoid these risks we can help you by providing the support services of making sure you do not default in keeping up with the ROC Annual Firm Compliance calendar or any other kind of compliances in a company.
For all the business entity formed in India as per (the)Companies Act and LLP Act, there are various ROC compliances which are required by the law to comply with timely. These compliance are easy to maintain and has minimum liability for owners, if they are being complied properly and timely. The article here throws limelight on the ROC Annual Compliances.
ROC Annual Compliances include filing of forms with the registrar of companies within the stipulated time period as stated in the rules. The Annual ROC Filing for Company is quite seamless provided you get the right help. These compliances are annual reporting, which are required by the concerned laws in order to remain legal and secure.
SOME OF THE ROC ANNUAL FIRM COMPLIANCES ARE MENTIONED BELOW
• Auditor Appointment and filing of Form ADT- 1 :
an auditor needs to be appointed for 5 years by submitting form ADT-1 to the Registrar of Companies.
• Filing of Financial Statement and Balance sheet with Form AOC - 4 :
Every Company needs to file its balance sheet and, profit and loss account along with the director’s report. This must be filed within 30 days from date from the date of AGM. Form AOC - 4 is to be submitted to the Registrar of Companies.
Annual ROC Filing for Company
• Filing of Annual Returns with Form MGT - 7 :
Every Company needs to file its annual return for the period ending on 31st March every year. This must be filed within 60 days from date from the date of AGM. Form MGT - 7 is to be submitted to the Registrar of Companies.
• Filing of statement of account and solvency in Form - 11 :
Form 11 filed as a part of Annual compliance for LLP contains details of the partners, the contribution made by the partners, and all the details of body corporate as partners and their details. Every LLP registered company should file form 11 within 60 days of closure of the financial year along with the required fee. The due date for filing form 11 is 30th May every year
• Filing of Annual returns in Form - 8 :
Filing form 8 as a part of Annual compliance for LLP should be filed within due date, in the mid of the year (i.e. 30th October ) and should be digitally signed by the partners and certified with the charted accountant. This form 8 includes two parts one is a statement of solvency, and two is the statement of accounts and income and expenditure.
• Filing of Form DIR - KYC
It is now mandatory for all directors having DIN to submit their KYC details in e-Form DIR 3 KYC every year. In case of default to file the e-Form on or before the due date, the DIN of the director will be marked as ‘Deactivated due to Non-filing of DIR-3 KYC’ by the ROC. In such cases, the default can be made good by filing the e-Form DIR-3 KYC after paying a late fine of INR 5,000.
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