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ANNUAL COMPLIANCE FILING For Farmer Producer Company

“Annual compliance filing ” refers to the set of legal and regulatory obligations that individuals, businesses, and organizations must fulfill annually to remain in good standing and compliance with the laws and regulations applicable to them. With “India’s BEST TAX CONSULTANT.” Connect with our Experts.

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Annual compliance filing For Farmer Producer Company. Online with Auriga Accounting

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Why Should I Use Auriga Accounting of Annual compliance filing For Farmer Producer Company ?

Auriga Accounting has a team of registration experts who can provide complete guidance to Annual compliance filing For Famer Proder Company.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Farmer Producer

Complete your Annual compliance filing

Your Annual compliance filing For Farmer Producer Company

Why Should I Use Auriga Accounting oAnnual compliance filing For Farmer Producer Company?

Auriga Accounting has a team of registration experts who can provide complete guidance to Annual compliance filing For Farmer Producer Company.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for farmer producer company

Complete your Annual compliance filing

Your Annual compliance filing For Farmer Producer Company Done .

OVERVIEW - ANNUAL COMPLIANCE FILING For Farmer Producer Company

A Farmer Producer Company (FPC) is a type of company registered under the Companies Act, 2013, that allows farmers to organize themselves as a collective entity to improve their economic and social status. The primary aim is to integrate farmers with markets and provide them with better access to resources, technology, and fair prices for their produce.

What is Annual compliance filing For Farmer Producer Company?

What is Annual Compliance For a One person Company?

As per Section 378A(l) of the Companies Act, 2013, a Producer Company is defined as a corporate entity that is established to undertake the activities or objectives specified under Section 378B. It must be registered as a Producer Company under either the Companies Act, 2013 or the Companies Act, 1956.

ELIGIBILITY ANNUAL COMPLIANCE FILING For Farmer Producer Company

Tax Audit – In India, the turnover limit for the Farmer Producer Company is ₹1 crore
for the financial year. Farmer Producer companies exceeding the turnover limit
must audit their accounts with a chartered accountant.

Gst Return Filling – Farmer Producer company with a yearly turnover of more than Rs. 40 Lakhs (for goods) and Rs. 20 lakhs (for services) are required to register for GST and pay taxes on their taxable goods and services.

ITR-6 Form – The ITR-6 Form is to be filed by the company with income under the head’s profits or gains of business or profession.

EPF Return Filling – The Farmer Producer company is required to get EPF registration if it employs more than 20 persons and accordingly, filing of EPF Return becomes mandatory.

Accounting and Book-Keeping – The Farmer Producer company is required to maintain books of account if the sale/turnover/gross receipts from the business is more than Rs. 25,00,000 or the income from the business is more than Rs. 2,50,000 in any of the 3 preceding years.

TDS return filing – Farmer Producer company functioning as deductors (with a valid TAN) must deduct tax at source (TDS) on specific payments exceeding prescribed limits (Single payment: Rs. 30,000 and Aggregate payment: Rs. 75,000) in Contract – Transporter not covered under 44AE under Section 194C.

GST Audit – Turnover-based Audit under Section 35(5) of CGST Act. If the annual turnover of a registered taxpayer is more than Rs. 2 crores in a financial year, he is required to get his accounts audited by a Chartered Accountant or Cost Accountant every year.

AURIGA ACCOUNTING PRIVATE LIMITED Eligibility1

BEnifit ANNUAL COMPLIANCE Filing For Farmer Producer Company

  • Encourages economies of scale by pooling resources.
  • Enables better price realization through direct market linkages.
  • Provides members with inputs and services at reduced costs.
  • Facilitates government grants, loans, and financial aid.
AURIGA ACCOUNTING PRIVATE LIMITED Farmer Producer

Documents for ANNUAL COMPLIANCE FILING For Farmer Producer Company

– Certificate of Incorporation
– Moa And Aoa
– GST number, if applicable
– Details of sales and purchases
– Bank statements
– Details of Creditors and Debtors
– Tds Report, If any

AURIGA ACCOUNTING PRIVATE LIMITED farmer Document 1
PROCESS ANNUAL COMPLIANCE FILING For Farmer Producer Company
  • Review Compliance Requirements: Understand the specific compliance obligations applicable to sole proprietorships in your jurisdiction. This may include tax filings, statutory filings, regulatory requirements, etc.
  • Gather Documents: Collect all relevant documents necessary for This could include financial statements, income tax returns, balance sheets, profit and loss statements, business licenses, permits, etc.
  • Prepare Financial Statements: If required, prepare financial statements such as balance sheets and profit and loss statements for the relevant
  • Income Tax Filing: File income tax returns for the sole proprietorship, ensuring accurate reporting of income and expenses.
  • GST Filing: If applicable, file Goods and Services Tax (GST) returns, reporting sales and purchases made during the financial year.
  • Review and Verification: Double-check all documents and filings for accuracy and completeness. Ensure that all information provided is up to date and in compliance with applicable laws and regulations.
AURIGA ACCOUNTING PRIVATE LIMITED Process Farmer Producer
ANNUAL COMPLIANCE FILING For Farmer Producer Company

Form

Purpose

Filing Deadline

Board and AGM Minutes

Governance records

Throughout the year

Financial Statements

Annual accounts for audit and filings

Before ROC filing

Form AOC-4

Filing of audited financial statements

Within 30 days of the AGM

Form MGT-7

Annual return with members and share details   

Within 60 days of the AGM

Income Tax Return (ITR-6)

Corporate tax filing

By September 30th

Form DIR-3 KYC

Director’s KYC details

Annually (before Sept 30)

Consequences of Non-Compliance

  1. Payment of Additional Filing Fees – If a company fails to file statutory forms by the prescribed due dates, it must pay additional filing fees to the Registrar of Companies (ROC). For example:
  • Late filing of AOC-4 (financial statements) or MGT-7 (annual return) incurs an additional fee of ₹100 per day until the filing is completed.
  1. Penalties on the Company and its Officers

Non-compliance with annual filing requirements results in penalties for both the company and its officers. For instance: Failure to file AOC-4 or MGT-7 on time leads to a penalty of:

  1. ₹10,000 as a base penalty for the company and each officer in default.

2. An additional penalty of ₹100 per day for the period of default.

  • Maximum penalties:
    • ₹2,00,000 for the company.
    • ₹50,000 for each officer in default.
  1. Income Tax Filing Penalty: If Form ITR-6 (income tax return) is filed after the due date (31st October), the penalties are as follows:
    • ₹5,000 if the company’s income exceeds ₹5 lakhs.
    • ₹1,000 if the company’s income does not exceed ₹5 lakhs.
  1. Disqualification of Directors – If a company fails to file its financial statements (AOC-4) or annual return (MGT-7) for three consecutive financial years, its directors face disqualification under Section 164(2) of the Companies Act, 2013.
  • Disqualified directors cannot:
    • Be reappointed in the same company. 
    • Be appointed in any other company for a period of five years.
  1. Inactive Company Status – If a company fails to file AOC-4 or MGT-7 for two consecutive financial years, the ROC Filing may declare it an inactive company.
  • Consequences of being declared inactive:
    • The company’s name may be struck off from the register of companies.
    • This action is preceded by a notice served to the company.

WHY AURIGA ACCOUNTING ?

Auriga Accounting, like many professional financial and advisory firms, can provide valuable assistance to Producer Farmer Company in India looking to fulfill their annual compliance filing requirements under the Companies Act, 2013. Here’s how Auriga Accounting can help with annual compliances for producer Farmer Company.

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MD SAHIL
MD SAHIL
2023-06-10
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Prince Kushwaha
Prince Kushwaha
2023-06-10
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Prince Singh
Prince Singh
2023-06-10
Auriga accouting private limited and it's team provide best service at affordable price. I have done my previous year GSTR and ITR they did it before the time
Priyanka Kumari
Priyanka Kumari
2023-04-07
They are best coordination with me. Time to time inform me how to work and what work is my pending. Time to time updated me about my company profile work like ROC Filling last date, GST filling last date, ITR etc... I have no paid any penalty since I started working with Auriga..
Vishal Singh
Vishal Singh
2023-04-07
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Sameer khan
2023-04-07
The auriga accounting private limited is a reliable and a customer support company the team has give Clear answer towards the customer by which the customer cannot get confused and get necessary detail to solve their queries and auriga provided me good service and delivered my work on time very well coordinate with me and talk very well I suggest if you have any work then call auriga they will definitely finish your work on time
Vivek Shakya
Vivek Shakya
2023-04-07
Great Services , within affordable rate and give full satisfaction on works. Easy to Cordinate, I have done My Previous year ITR , Startup Registration. I am very happy with their services and their first priority is their Customer.
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find way
2023-04-06
I'll give a five-star rating, I had doubts about how to start my work in the field of business and they guide me and instruct me on how to start a business. They have a great team.
623 Anjali
623 Anjali
2023-04-06
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Anjali Sharma
Anjali Sharma
2023-04-06
Auriga Accounting team represents the highest level of customer services I have experienced.The team gives accurate information and responses to queries very fast, which are customer is facing.

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