Annual Filing of Companies for the Financial Year 2018-19 – Last date approaching
As you are aware, that under the provisions of the Companies Act, 2013, Indian companies are required to file Financial Statements and Annual Return on MCA 21 portal which is majorly condensed to the months of October and November.
In light of the above, the Ministry has issued a communication that to avoid last minute rush and system congestion at the MCA21 portal during the months of October and November, 2019, companies are requested to file their financial statements and annual returns at the earliest without postponing it to the last days.
Further, it has been communicated that to provide relief to the stakeholders, during the period of annual filing, the Corporate Seva Kendra/Help Desks (Ph. No. 0124-4832500) would give priority to e-filing/answering queries of companies for filing financial statements and annual returns.
Accordingly, we request you to kindly ensure that the annual filing for the companies with which you are associated is undertaken in a timely manner.
Source- ICSI
See the fun and height of mismanagement at MCA. IFRS is absolutely user-against measure which is being forced upon them to comply and the actual user-friendly measure of providing on line approval within 24 hours, duly vetted by the professionals, have been withdrawn within a month of introduction for which notification was alreday issued.
I agree each word Mr. Ashok Shah says. Nobody dare to utter any word against MCA. He has spoken for all the Companies. Because of the weakness of the site I had had to pay additional fees many times. First they upgrade their site.
Thanks a lot Mr. Ashok Shah
Instead of issuing such circular advising the company to file their returns in advance, they should incrase their bandwidth availabitlity to cop with the situation of last minute rush. If law allows the company enough time to file the documents, such instuctions are in violation of law and avowed intention of the parliament who has enacted law.
There are many companies who are filing return / documents on the last day and because of network problem, they are not able to file within time and then they are charged extra amount from next day.
MCA should be ahsamed to take such charge – I will say exploit the Company – becasue of their site blocked or not working due to heavy pressure. It is also a slur on the several institutes like ICAI, ICSI, ICWAI who are in a position to advice the Ministry but are keeping silence to such unjustice and unjust advice issued throguh offcial circular. All the committee members are partners to such crime instigated in an official manner. MCA recently works like officail goonda raj. They themselves are not ready with XBRL format, process and like things but insists that the prescribed company should file in XBRL format only. Each page tagging costs Rs.2,500/- and considering minimum of 25 page tagging, cost of tagging comes to Rs,.62,500/-. Even many companies does not pay the audit fee of this magnitude. How can they bear the cost of such filing.
Inititally, filing fee was Rs.500/-. then came efiling. Cost of compliance increased. A company either has to pay to professional or has to spend money for buying a computer, an internet connection or photon or like devices, buy a scanner and various offcial software. Now XBRL. The work of Rs.500/- can now be done only with Rs.75,000/- minimum.
Is any body listening?. Can those people who matters, take up the cudgle and do some needful to the relief of entire community. Can any once act as Anna Hazare to this dictatorship attitude of MCA.