All companies (Private limited company, One person company, Public limited company, Section 8 company, etc) are required to file an annual return with the MCA every year. In addition to filing MCA annual return, companies would also be required to file income tax return. In this article, we look at MCA annual return filing for a company in detail.
Note: Directors of companies that have failed to file the annual return for three years will be disqualified for 5 years. Know more about Director Disqualification.
All companies registered in India must prepare and file with the Registrar of Companies, an annual return in FORM MGT 7, within 60 days from the date of annual general meeting. The annual return of a company can be filed with the digital signature of the Director of the Company and the digital signature of the Chartered Accountant auditing the company.
In case of annual return filing 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, the annual return must be certified by a Company Secretary in practice in Form No. MGT 8.
A MCA annual return contains the information as pertaining to the previous financial year:
The penalty for a company not filing MCA annual return is Rs.5 lakhs. In addition, every officer of the company who is in default will be punishable with imprisonment for a term of upto 6 months or with a fine or both.
Finally, once a company is marked as strike off by the Registrar of Companies, the directors in the company would be disqualified from acting as Director of a company for a period of 5 years.
MCA Expert at TAXAJ
TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ
Watch all the Informational Videos here: YouTube Channel
TAXAJ Corporate Services LLP
Address: 1/11, 1st Floor, Sulahkul Vihar, Old Palam Road, Dwarka, Delhi-110078