What is Annual Compliance for a Company?

Annual compliance refers to the set of statutory obligations that every company in India must fulfill every year. These include filing annual returns, financial statements, and other mandatory documents with the Registrar of Companies (ROC). It ensures your company adheres to the legal and regulatory framework set by the Ministry of Corporate Affairs (MCA).

Key Annual Compliance Requirements for Companies in India

1.    Annual General Meeting (AGM)
o    All companies, except One Person Companies (OPC), must hold an AGM within 6 months from the end of the financial year.
o    AGM Resolutions: Approve financial statements, dividends, appointment of directors, etc.
2.    Filing of Financial Statements (AOC-4)
o    Form AOC-4 must be filed with the ROC within 30 days from the date of the AGM.
o    This form contains the company’s balance sheet, profit and loss account, and cash flow statement.
3.    Filing of Annual Return (MGT-7)
o    Every company must file Form MGT-7 within 60 days from the date of the AGM.
o    This form includes details like shareholding patterns, directors’ report, and financial performance.
4.    Directors’ Report and Secretarial Audit Report
o    The directors of the company must prepare an annual report that includes financial details, business performance, and other disclosures.
o    Certain companies are required to conduct a secretarial audit and submit the Secretarial Audit Report.
5.    Income Tax Return Filing (ITR)
o    Companies are required to file their Income Tax Returns (ITR) annually with the Income Tax Department.
6.    ROC Filings
o    Form DIR-12 for appointment, resignation, or change in directorship.
o    Form INC-22 for changes to the registered office address.
7.    Payment of Fees and Taxes
o    Ensure timely payment of any outstanding GST, taxes, and other statutory dues.

Additional Compliance for Specific Company Types

•    Private Limited Companies: Must comply with the same requirements as other companies, including AGM and annual returns, but with a different format for documents.
•    One Person Companies (OPC): Although exempt from holding an AGM, OPCs are still required to submit their financial statements and annual return.

Timeline for Annual Compliance Filings

Compliance Requirement    Due Date
AGM    Within 6 months from the end of FY
Filing AOC-4 (Financials)    Within 30 days of AGM
Filing MGT-7 (Annual Return)    Within 60 days of AGM
Income Tax Filing (ITR)    30th September of the assessment year (for companies)**
Secretarial Audit    With AGM filing

Consequences of Non-Compliance

Failure to meet your company’s annual compliance obligations can result in:
•    Fines and Penalties: ROC fines for late or non-filing of annual returns and financials.
•    Legal Actions: Directors can face disqualification or imprisonment for serious non-compliance.
•    Company’s Name Struck Off: If a company fails to comply with statutory requirements for two consecutive years, the ROC may strike off its name from the register.
•    Loss of Reputation: Non-compliance can affect business operations and damage the company's reputation with clients, investors, and other stakeholders.

Why Choose Us for Your Company’s Annual Compliance?

•    Expert Guidance: We have a team of highly qualified Company Secretaries, Chartered Accountants, and legal experts to manage all aspects of annual compliance.
•    Timely Filing: We ensure all statutory filings are done on time to avoid penalties and legal consequences.
•    Affordable: We provide comprehensive compliance services at competitive prices.
•    Complete Compliance: From AGM filing to income tax returns, we take care of all your annual obligations.
•    Hassle-Free Service: Let us handle the paperwork while you focus on growing your business.
 

Get Your Company’s Annual Compliance Done Right

Stay compliant, avoid penalties, and focus on your business. Our annual compliance services are designed to ensure that your company meets all legal and regulatory requirements without any hassle.
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