Come September and it is time to file Annual Returns with the Registrar of Companies. As per the provisions of the Companies Act, 2013, the due date for holding the Annual General Meeting (AGM) for the financial year ended 31st March 2019 is 30th September 2019.

The annual returns consists of two forms viz:

  1. Form AOC 4
  2. Form MGT 7

 As per Section 137 and 92 of the Companies Act, it is required to file the Balance sheet (Form AOC-4) and the Annual Return (form MGT-7) within 30 days and 60 days respectively from the date of AGM. 

Annual returns consists of the following information and documents:

  1. Audited Financial Statements
  2. Audit Report
  3. Directors Report
  4. Notice to AGM
  5. Other secretarial documents prescribed under the Companies Act.

The Companies Act, 2013 was amended in November to introduce late fees for delayed filing of ROC Returns. The late is fees now at Rs 100 per day for each form.

It is important to note that a Unique Document Identification Number (UDIN) being made mandatory from 1st July 2019 for all Audit/Assurance/Attest function. Hence, in order to conduct the AGM on or before 30.09.2019, Statutory Auditor should generate and mention UDIN in the statutory audit report on or before 29th September 2019.

Running a Startup business in India is not an easy task. It involves a constant investment of both time and effort as well as technical capabilities of knowing the various statutory compliance and regulations. We hope this blog post is helpful for both founders and budding entrepreneurs in imparting the right knowledge and guiding them.

But many early businesses struggle with the multitude of compliances that are part of doing business in India. Our advisors at Integra Books can help you ensure you file the right things at the right time.

The most frequent problems that business owners face are to do with accounting & regulatory compliance. Entrepreneurs view time invested in doing both as unproductive time.

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