Annual Filing & Compliance

Annual Filing & Compliance

Every organization registered in India, including Private Limited, OPC LLP, Partnership, and Section 8 organizations, is obligated to submit their MCA annual return and annual assessment form every year. Before filing the annual return, the company must conduct an Annual General Meeting at the conclusion of each fiscal year. For newly established companies, this meeting should take place within 18 months from the date of incorporation or within 9 months from the end of the financial year, whichever is earlier. Subsequent Annual General Meetings should be conducted within 6 months from the conclusion of that fiscal year. In India, the fiscal year typically commences on April 1st and ends on March 31st. Therefore, a company’s annual returns are expected to be submitted on or before September 30th.

In addition to the MCA annual return, companies are also required to file an Income Tax Return, regardless of whether they have generated profits or not. Private Limited, OPC LLP, Partnership, and Section 8 organizations must file Form ITR – 6. The deadline for submitting the annual tax return for a company is before September 30th.

FAQs

Frequently Asked Questions

frequently asked questions (FAQs) related to annual filing and compliance for organizations:

 Annual filing and compliance refer to the legal obligations that companies must fulfil on an annual basis to maintain their status as registered entities. This typically includes submitting various forms and documents to regulatory authorities.

All types of companies registered in India, such as Private Limited, OPC (One Person Company), LLP (Limited Liability Partnership), Partnership firms, and Section 8 companies, are required to adhere to annual filing and compliance requirements.

The primary documents include the MCA (Ministry of Corporate Affairs) annual return and the annual financial statements. Additionally, income tax returns may need to be filed depending on the company's financial performance.

 The deadline for annual filing varies but is typically before September 30th of each year. It's essential to check the specific due dates and deadlines each year to ensure compliance.

The AGM is a mandatory meeting held at the end of each fiscal year, and it must be conducted within certain timeframes. For newly incorporated companies, it should be held within 18 months of incorporation or 9 months from the end of the financial year, whichever is earlier. Subsequent AGMs should be held within 6 months from the close of the financial year.

In India, the fiscal year typically starts on April 1st and ends on March 31st.

Non-compliance can result in penalties, fines, and even the dissolution of the company. It's crucial to meet the annual filing and compliance deadlines to avoid legal consequences.

Yes, there are certain exemptions and reduced compliance requirements for small companies and those with low financial activity. However, eligibility criteria may apply, and it's essential to consult with legal experts or regulatory    authorities for specific details.

 Private Limited, OPC, LLP, Partnership, and Section 8 companies typically need to file Form ITR-6 for their income tax return.

Companies can seek assistance from chartered accountants, legal consultants, or company secretaries who specialize in corporate compliance. Additionally, online portals and government websites often provide guidance and resources for compliance.

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