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Dec 24
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Posted by:MyEfilings
Annual Return filing of Private Limited Company

Filing of Annual Return at the end of Financial Year is mandatory for every Private Limited Company in India. There are some fines and penalties for non filing of Annual Returns of Private Limited Company. It is therefore very important to file Annual Returns on time. In this article we will discuss about the information which is to be provided to the Registrar of Companies while filing Annual Return of Company.

Information to be provided to ROC in Annual Return

The below mentioned information has to be provided with the Annual Return to the Registrar of Companies

  1. Principal business activities of the Company
  2. Details of subsidiary companies or associate companies
  3. Share holding pattern
  4. Details of loans
  5. Details of Key Managerial Personnel (KMP), Promoters and Directors of Company
  6. Details of Remuneration paid to Directors
  7. Details of penalty imposed on the Company during Financial Year

Filing Annual Return of Company with NIL / Zero Turnover

Filing of Annual Return of Private Limited Company is compulsory even if there are no transactions during the year or there is zero turnover during the year.

Who signs the Annual Return (Form MGT 7)

Director of the Company has to sign the Annual Return of Private Limited Company or One Person Company. When turnover of Private Limited Company is more than Rs. 2 Crores or Paid-up Capital of Private Limited Company is more than Rs. 50 Lacs, the Annual Return is to be signed by Practicing Company Secretary also. The Practicing Company Secretary shall certified that all the disclosures are made and there are no non-compliances by Company. He has to mention non-compliances, if any, in the Annual Return.

When to file Annual Return

Every Company has to hold its Annual General Meeting within 180 from closure of Financial Year. This means that the Annual General Meeting of the Company should be held on or before 30th September every year. Annual Return of Private Limited Company is to be filed within 60 days from the date of completion of Annual General Meeting of the Company. Due date for filing annual return has to be decided based on the above information.

Consequences of not filing Annual Return

There are heavy penalties for not filing Annual Return on time. We have reproduced the table for normal filing fees and additional filing fees or penalty for late filing of Annual Return.

Nominal share capital of Company

Normal filing fees for Annual Return (MGT-7)

Less than Rs. 100000/-

Rs. 200/-

Rs. 100000/- to Rs. 499999/-

Rs. 300/-

Rs. 500000/- to Rs. 2499999/-

Rs. 400/-

Rs. 2500000/- to Rs. 9999999/-

Rs. 500/-

Rs. 10000000/- and above

Rs. 600/-

 

Nominal share capital of Company

Additional fee or penalty for late filing of Annual Return (MGT 7)

Delay of up to 30 days

2 times of normal fees

Delay of more than 30 days and up to 60 days

4 times of normal fees

Delay of more than 60 days and up to 90 days

6 times of normal fees

Delay of more than 90 days and up to 180 days

10 times of normal fees

Delay of more than 180 days

12 times of normal fees

 

Over and above the penalty as mentioned above, if a Company does not file annual return, the Company shall be punished with fine which shall not be less than fifty thousand rupees but shall not exceed rupees five lacs. Every officer in default will be punishable with imprisonment upto 6 months or penalty which will not be less than rupees fifty thousand but not more than rupees five lacs.

For more information on Annual Return filing and free consultation visit www.myefilings.com or write to us at support@myefilings.com.

You may take our services of Virtual Secretary at just Rs. 1000/- per month (billed annually) and get all your Company Compliances in place including Annual Returns.

 



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    Such a deep anrswe! GD&RVVF
    28 Jul,2016



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