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ANNUAL RETURN FILLING FOR PRIVATE LIMITED COMPANIES?

ANNUAL RETURN FILLING FOR PRIVATE LIMITED COMPANIES?

INTRODUCTION

An annual return is a document that every company, irrespective of its nature or status, is required to file with the Registrar of Companies (ROC). It contains information about the company’s composition, activities, and financial position.

What is an annual return?

An annual return is a document that every company, irrespective of its nature or status, is required to file with the Registrar of Companies (ROC). It contains information about the company’s composition, activities, and financial position.

The annual return must be filed within 60 days of the close of the company’s financial year. The information that must be included in the annual return varies depending on the size and type of company. However, it typically includes the following:

  • The company’s name and registered office address
  • The names and addresses of the company’s directors and shareholders
  • The company’s share capital
  • The company’s profits and losses
  • The company’s assets and liabilities
  • The company’s board of directors’ resolutions

Why is an annual return required?

The annual return serves several purposes. First, it provides the ROC with a record of the company’s activities and financial position. This information is used by the ROC to monitor the company’s compliance with the Companies Act and other laws.

Second, the annual return is a public document. This means that anyone can inspect it at the ROC’s office. This transparency helps to ensure that the company is being operated in a fair and responsible manner.

Third, the annual return is a requirement for certain corporate actions. For example, a company cannot hold an annual general meeting (AGM) unless it has filed its annual return for the previous financial year.

What are the penalties for failing to file an annual return?

The penalties for failing to file an annual return on time can be severe. The company may be fined, its directors may be imprisoned, and the company may be struck off the register of companies..

How do I file an annual return?

The annual return can be filed online or by post. The online filing process is more convenient, but it requires the company to have a digital signature.

To file the annual return online, you will need to create a profile on the Ministry of Corporate Affairs (MCA) website. Once you have created a profile, you can log in and file the annual return.

To file the annual return by post, you will need to download the annual return form from the MCA website and mail it to the ROC.

What are the deadlines for filing an annual return?

The deadline for filing an annual return is 60 days after the close of the company’s financial year. However, it is advisable to file the annual return as soon as possible to avoid penalties.

What are the key steps involved in filing an annual return for a private limited company?

Here are some of the key steps involved in filing an annual return for a private limited company:

  1. Gather the required information. This includes the company’s name, registered office address, directors’ and shareholders’ names and addresses, share capital, profits and losses, assets and liabilities, and board of directors’ resolutions.
  2. Complete the annual return form. The form can be found on the website of the Ministry of Corporate Affairs (MCA).
  3. Sign the annual return form. The form must be signed by the company’s secretary and chairman.
  4. File the annual return. The annual return can be filed online or by post.

Conclusion

Filing an annual return is an important requirement for all companies. By filing the annual return on time, you can help to ensure that your company is compliant with the law and that its activities are transparent.