Annual return filing is a necessary process for all Private Limited (Pvt. Ltd) companies in India. It involves submitting important information about the company's activities to the Ministry of Corporate Affairs (MCA) each year. Here’s an easy and simple article for you to know all the essentials about the Annual return filing for a Private Limited Company.
What is Annual Return Filing?
Annual go back filing is while a Pvt. Ltd business enterprise offers information about its financial and operational results for the 12 months.
Steps to File Annual Returns Online
1. Gather Required Documents
- PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) of the company
- Audited financial statements
- Board resolutions and directors’ report
- Details of shareholders and administrators
- Digital Signature Certificate (DSC) of legal signatories
2. Prepare Financial Statements
- Ensure your financial statements are audited with the aid of a Chartered Accountant (CA).
- The auditor will offer a document that should be attached to Form AOC 4.
3. Fill and File Form AOC 4
- Log in to the MCA portal.
- Select Form AOC-4 and input your corporation’s financial info.
- Attach the specified files and signal using your DSC.
- Pay any relevant expenses and post the shape.
4. Fill and File Form MGT 7
- Download Form MGT 7 from the MCA portal.
- Enter business enterprise facts, such as shareholding structure and changes in directors.
- Attach the assisting files and signal digitally.
- Pay the required authorities' fees and report the shape online.
5. Verification & Acknowledgment
After submission, MCA will affirm your data. Once validated, you'll get hold of an acknowledgment.
Due Dates for Filing Annual Returns
- Form AOC 4: Must be filed within 30 days of the Annual General Meeting (AGM).
- Form MGT 7: This form shall be filed within 60 days of the Annual General Meeting.
Penalties for Late Filing
- For AOC 4: ₹100 in step with day until you report.
- For MGT-7: ₹100 consistent with the day and without a top restrict.
- Non compliance can cause fines as much as ₹5 lakh for the enterprise and ₹50,000 for administrators.
Conclusion
Annual return filing for Pvt. Ltd is important to stay compliant with rules, keep away from penalties, and maintain credibility. The online filing system through MCA makes it easier to complete these necessities on time.
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