What is Annual Filing?

Annual filing has no definite or fixed definition or explanation. It is a general term used by stakeholders/ professionals in regard to company for filing the mandatory forms to concerned department like Registrar of Companies, Income Tax Department, GST, etc. for containing all the major working of the company.

This annual filing helps departments to check and keep on record the documents of company for bringing transparency in Indian Economy.

Annual Filing

What types of Companies are covered?

Annual Filing is to be done by every kind of Company whether:-

  • Private Company
  • Public Company
  • One Person Company
  • Listed/Unlisted
  • Section 8/ Non for Profit Company, etc.

Companies are required to file required documents for each Financial Year which is 1st April, 0— to 31st March, 20–.

What forms are required to file under Annual Filing?

As per The Companies Act, 2013, all the Companies Are required to file below given forms:-

  • E-form MGT-7
  • E-form AOC-4
  • E-form ADT-1

E- form MGT-7: This e-form is Annual Return under Section 92 of The Companies Act, 2013. This form filled for below given details:-

  • its registered office, principal business activities, particulars of its holding, subsidiary and associate companies
  • its shares, debentures and other securities and shareholding pattern
  • its members and debenture-holders along with changes therein since the close of the previous financial year
  • its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year
  • meetings of members or a class thereof, Board and its various committees along with attendance details
  • remuneration of directors and key managerial personnel
  • penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment
  • such other matters as may be prescribed

E-form AOC-4: This E-form under Section 137 of The Companies Act, 2013 and is filled for Financial Statements of the company including standalone as well as consolidated Financial Statements. This Form has three major components which is Notice of Annual General Meeting, Director Report and Financial statements.

E-form ADT-1: This E-form under Section 139 of The Companies Act, 2013. It is filled for Statutory Auditor of the Company. The statutory Auditor of the Company is officer who is responsible for true an fair preparation of Financial statements for each financial year.

Currently, this form can be filled for appointment of statutory Auditor for maximum Five years. Also, only a Chartered Accountant can be appointed as statutory Auditor of the Company.

What is time limit for filing the forms?

As per The Companies Act, 2013, all the Companies Are required to file within time as given below for respective forms:-

  • E-form MGT-7: Within sixty (60) days from the Date of Annual General Meeting
  • E-form AOC-4: Within thirty (30) days from the Date of Annual General Meeting
  • E-form ADT-1: Within fifteen (15) days from the Date of Annual General Meeting

These all above time limits include the date of event i.e. days from will be counted from the date of Annual General Meeting (AGM).

What if company fails to file form on time?

As given in above point if company fails to file the respective form within the time prescribed then, the following additional fees will be levied:

  • E-form MGT-7: If not filled within sixty (60) days from the Date of Annual General Meeting then additional fees of INR 100/- will be levied per day for each day of delay.
  • E-form AOC-4: If not filled within thirty (30) days from the Date of Annual General Meeting then additional fees of INR 100/- will be levied per day for each day of delay.
  • E-form ADT-1: If not filled Within fifteen (15) days from the Date of Annual General Meeting below given table additional fees is levied:-
S.No. Delay in Filing Form Penalty
1 Up to 30 days Twice the Normal Fees
2 More than 30 days but less than 60 days 4 times Normal Fees
3 More than 60 days but less than 90 days 6 x Normal Fees
4 More than 90 days but less than 180 days 10 x Normal Fees
5 More than 180 days 12 x Normal Fees

What is relaxation for annual filing under COVID-19 pandemic?

As per the Ministry of Corporate Affairs (MCA) circular dated 8th September, 2020 through relevant circular number by each Registrar of Companies have issues circular for extension of Annual General Meeting for the Financial Year ended on 31st March, 2020.

This extension read in simple language that a company is given extension of ninety (90) days from the due date of Annual General Meeting for the Financial Year ended on 31st March, 2020. A Company a hold Annual general Meeting on or before 31st December, 2020 instead of September, 2020 as per The Companies Act, 2013.

Accordingly, the time prescribed for filing the E-form MGT-7, E-form AOC-4 and E-form ADT-1 shall be counted from the date of Annual General Meeting. Let us understand this with example: –

ABC Private Limited has convened its Annual General Meeting on 30th December, 2020. Now the E-form MGT-7 should be filled on or before 27th February, 2021, E-form AOC-4 should be filled on or before 28th January, 2021 and E-form ADT-1 should be filled on or before 13th January, 2021 for avoiding any additional fees.

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Disclaimer: – The above article is prepared keeping in mind various provisions relating to Annual Filing under the Companies Act, 2013 and rules made thereunder. The author has tried to cover all the important and basic question registration of charge thereunder. Under no circumstance, the author shall be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information.

(The Author is Corporate Consultant and provides varied array of services including Start-ups mentor, Secretarial, Legal, Trademark, taxation, Audit, GST, Book keeping and other ancillary advisory service in Delhi, Chandigarh as well as The National Capital Region (NCR) and can be contacted through email id:- [email protected] and Contact Number: 91-8178515005)

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Qualification: CS
Company: Proventure- Aiding your Business
Location: NEW DELHI, New Delhi, IN
Member Since: 06 Jul 2019 | Total Posts: 64
I am Company Secretary and engaged with this profession from last nine (9) years. Throughout this journey, my moto is to help people start their startups and business. View Full Profile

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