All you need to know about Filing Form ADT-1

Introduction

Under the Companies Act 2013, it is mandatory for companies to inform the Registrar of Companies (ROC) about the appointment of an auditor through Form ADT-1. This article provides a comprehensive overview of the filing fees for ADT-1, the process of filing the form with the Ministry of Corporate Affairs (MCA), the deadline for submission, and the necessary documentation required for ADT-1 filing.

When to File Form ADT-1 with MCA?

As per the Companies Act 2013, Form ADT-1 must be filed with the Registrar of Companies (ROC) within 15 days of the Annual General Meeting (AGM) at which the auditor was appointed or reappointed. For newly incorporated companies, the form must be filed within 15 days of the first board meeting, which should be held within 30 days of establishment.

Important Points for Filing Form ADT-1

1. The responsibility of filing Form ADT-1 lies with the company and not the auditor.
2. Filing Form ADT-1 is mandatory for all types of companies, including listed, private, public, and unlisted.
3. If an auditor is appointed as a casual vacancy in a company, Form ADT-1 must also be filed.
4. Although it is not mandatory to file Form ADT-1 for the first auditor appointment, it is recommended to do so.

Documents Required for Form ADT-1 Filing

The following documents need to be attached with Form ADT-1:

1. Auditor’s written approval for the appointment.
2. Copy of the company’s board resolution or a resolution passed in the AGM.
3. Certificate from the auditor confirming their eligibility and not being disqualified under Section 141.
4. Copy of the company’s disclosure to the auditor.

Process to File Form ADT-1 with MCA

The process to file Form ADT-1 is as follows:

1. Obtain a digital signature certificate (DSC).
2. Obtain a director identification number (DIN).
3. Download Form ADT-1 from the MCA website.
4. Fill in the company’s name, registered office address, and other required details.
5. Provide the details of the appointed or reappointed auditor, including their name, address, PAN, and membership number.
6. Attach the necessary documents, such as the board resolution for auditor appointment and auditor’s consent letter.
7. Verify the form using the DSC of the signing director.
8. Once verified, submit the form electronically to the Registrar of Companies (ROC).
9. Pay the fee for Form ADT-1 online after submission.
10. Upon successful submission and fee payment, an acknowledgment will be sent to the registered email address.

Fee Structure for Form ADT-1 Filing

The fee structure for filing Form ADT-1 is based on the share capital value of the company. The fee structure is as follows:

1. Share capital value less than INR 1 Lakh: INR 200.
2. Share capital value between INR 1,00,000 to INR 4,99,999: INR 300.
3. Share capital value between INR 5,00,000 to INR 24,99,999: INR 400.
4. Share capital value between INR 25,00,000 to INR 99,99,999: INR 500.
5. Share capital value more than INR 1,00,00,000: INR 600.
6. Companies without share capital: INR 200.

Other Annual Compliance for Private Limited Companies

Apart from filing Form ADT-1, private limited companies in India have other annual compliance requirements, including:

1. Annual General Meeting (AGM): Private limited companies must hold an AGM within six months from the end of their financial year to present financial statements, appoint/reappoint directors, and declare dividends.
2. Financial Statements: Private limited companies must prepare audited financial statements, including a balance sheet, profit and loss account, cash flow statement, and notes to accounts.
3. Income Tax Returns (ITR): Private limited companies must file their income tax returns by the due date, irrespective of their profitability. The due dates for filing a return of income by a Company are October 31. If an assessee has an international or specified domestic transaction that is required to furnish a report in Form No. 3CEB, the due date is November 30.
4. Annual Return Filing: Private limited companies must file their annual return with the Registrar of Companies (ROC) within 60 days from the date of the AGM, providing details on shareholding, directors, and other statutory information.

Conclusion

Form ADT-1 is a crucial document for the appointment of an auditor in a company and must be filed within the specified timeframe. All types of companies, except for the first appointment, are required to file Form ADT-1. It is the company’s responsibility to file the form with the Registrar of Companies (ROC) to notify them about the auditor’s appointment. Compliance with these requirements ensures adherence to legal obligations and regulatory frameworks.