The Companies Act, has mandated for every company whether Private Company, Public Limited Company, One person Company, Section-8 Company incorporated under the provisions of the Companies Act, 2013/1956 Act to file its audited Financial Statements and Annual Return annually in various e-forms along with the necessary documents with the respective Registrar of Companies irrespective of the turnover, capital, transactions done etc. The Annual filing is done to report the activities carried out during the Financial Year.
Companies are required to file the documents electronically on the Ministry of Corporate Affairs (MCA) portal. The filings need to be made in the prescribed e-Forms, which can be accessed and submitted online.
Annual General Meeting (AGM): Every company is required to hold an AGM within six months from the end of the financial year
The AGM is a meeting where shareholders discuss the company’s financial statements, elect directors, and make important decisions.
Financial Statements: Companies must prepare financial statements, including the balance sheet, profit and loss statement, cash flow statement, and statement of changes in equity, for the previous financial year. These statements should be audited by a qualified Chartered Accountant. The Reporting is to be done in eForm AOC-4 within 30 Days of Annual General Meeting
Director’s Report: The Director’s Report provides an overview of the company’s activities, financial performance, future plans, and other relevant information. It is prepared by the directors and should be attached to the financial statements.
Annual Return: The annual return is a comprehensive document that provides details about the company’s shareholders, directors, share capital, indebtedness, and other relevant information. The Reporting is to be done in eForm MGT-7/MGT-7A within 60 Days of Annual General Meeting It should be filed within 60 days of the AGM.
Auditor Appointment: Companies are required to appoint an auditor for a period of Five Consecutive Financial Years.
Compliance Certificate (MGT-8): Certain categories of companies, such as those with a paid-up capital of Rs. 10 crore or more, Listed Entities and Companies having Turnover 50 crore or more need to obtain a compliance certificate from a practicing Company Secretary. This certificate certifies the company’s compliance with various provisions of the Companies Act.
