NBFC Compliance

BusinessAid ensures timely and accurate company annual filing, guaranteeing compliance with all legal requirements. Our dedicated team handles the entire process efficiently, allowing you to focus on your core business activities with peace of mind. Trust BusinessAid for seamless annual filing services tailored to your company's specific needs.

Importance of Company Annual Filing

Each year, all firms registered in India, whether private limited, one person, public limited, or section 8 corporations, must file the MCA annual return and income tax return.Every company, with the exception of One Person Companies (OPCs), is required to hold an Annual General Meeting.

To ensure compliance, companies must hold an Annual General Meeting at the conclusion of each fiscal year and file an annual return with the Ministry of Corporate Affairs (MCA). For newly incorporated companies, the Annual General Meeting should be held within 18 months of incorporation or 9 months of the end of the fiscal year, whichever is earlier. The subsequent Annual General Meeting will be conducted within 6 months of the end of that fiscal year. In India, the fiscal year generally begins on April 1st and ends on March 31st. So, a company's annual return is due on or before September 30th.

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Annual returns (Form MGT-7) include the following information and documents:

• Balance Sheet of the Company, Profit & Loss Account

• Compliance Certificate, Registered Office Address

• List of shareholders and shareholding structure of company

• Details of transfers &/or Transmission of securities

• Shares and Debentures details

• Changes in Directorship

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NOTE– Signing-

  • Annual Return shall be signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice. However, in relation to One Person Company and small company, the annual return shall be signed by the company secretary, or where there is no company secretary, by the director of the company.

NOTE- Section-92 of Companies Act, 2013 contains provisions regarding Annual Return.

  • Every company shall prepare its annual return in Form No. MGT 7.
  • The annual return, filed by a listed company or a company having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more, shall be certified by a Company Secretary in practice and the certificate shall be in Form No. MGT 8.

In addition to MCA annual return, companies should also file income tax return irrespective of income, profit or loss. Hence, even dormant companies with no transactions are required to file income tax return each year. Private limited companies, limited companies and one person companies would be required to file Form ITR-6.The due date for filing income tax return for a company is on or before the 30th of September.

Professional Utilities provides a comprehensive cloud based ICFO and compliance management service for small and medium sized business. Our compliance service includes financial statement preparation, secretarial services, income tax return filing and MCA annual return filing. Based on requirement as your business scales.

How we help with company annual filing

BusinessAid can assist your company in filing its obligatory annual return and maintaining annual compliance with the Ministry of Corporate Affairs. Contact a Professional Utilities Advisor to begin managing your company's compliance in a secure and hassle-free manner.

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