Last Date of Annual Filing of Company

Last Date of Annual Filing of Company

Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129 (3), 137, of The Companies Act , 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and annual return is governed under Section 92 of the Companies Act, 2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.

Latest Update

  • “MCA department has issued a circular no. 17 regarding due date extension for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL AOC-4 Non-XBRL, MGT-7, and MGT-7A till 31st December 2021.”
  • “Gap between two board meetings under section 173 of the Companies Act, 2013 (CA-13) – Clarification – reg.”
  • “Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013.”
  • “Relaxation of time for filing certain forms under the Companies Act, 2013.”
  • “MCA has provided relaxation on the levy of additional fees for all AOC-4 e-forms for F.Y 2019-2020 till 15.02.2021”.
  • The last date for filing E-form-MGT 07 is within 60 days from the date of Annual general Meeting for the F.y 2019-2020.

Company law Related Changes Due to COVID-19 by Govt. of India

  • “Relaxation of additional fees and extension of last date of filing of CRA-4 (form for filing of cost audit report) for FY 2019-20 under the Companies Act, 2013”.
  • The MCA department has extended the timeline for holding AGM till 31st December from 30th September.
    • “Here is the clarification for the same as the last date of conducting the AGM (Annual General meeting) is not 31.12.2020 for every company it depends on the due date of the Annual General meeting of each company”.
  • “Clarification on Extension of Annual General Meeting (AGM) for the financial year ended 31.03.2020, Companies Act, 2013”
  • “No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect of any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date, which will not only reduce the compliance burden, including financial burden of companies/ LLPs at large, but also enable long-standing non-compliant companies/LLPs to make a ‘fresh start’;”
  • “The mandatory requirement of holding meetings of the Board of the companies within prescribed interval provided in the Companies Act (120 days), 2013, shall be extended by a period of 60 days till next two quarters i.e., till 30th September;”
  • “Applicability of Companies (Auditor’s Report) Order, 2020 shall be made applicable from the financial year 2020-2021 instead of from 2019-2020 notified earlier. This will significantly ease the burden on companies & their auditors for the year 2019-20.”
  • “As per Schedule 4 to the Companies Act, 2013, Independent Directors are required to hold at least one meeting without the attendance of non-independent directors and members of management. For the year 2019-20, if the IDs of a company have not been able to hold even one meeting, the same shall not be viewed as a violation.”
  • “The requirement to create a Deposit reserve of 20% of deposits maturing during the financial year 2020-21 before 30th April 2020 shall be allowed to be complied with till 30th June 2020.”
  • “The requirement to invest 15% of debentures maturing during a particular year in specified instruments before 30th April 2020, maybe done so before 30th June 2020.”
  • “Newly incorporated companies are required to file a declaration for Commencement of Business within 6 months of incorporation. An additional time of 6 more months shall be allowed.”
  • “Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, shall not be treated as a violation.”
  • “Due to the emerging financial distress faced by most companies on account of the large-scale economic distress caused by COVID 19, it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs. 1 crore (from the existing threshold of Rs. 1 lakh). This will by and large prevent triggering of insolvency proceedings against MSMEs. If the current situation continues beyond 30th of April 2020, we may consider suspending sections 7, 9 and 10 of the IBC 2016 for a period of 6 months
    so as to stop companies at large from being forced into insolvency proceedings in such force majeure causes of default.”
  • “Detailed notifications/circulars in this regard shall be issued by the Ministry of Corporate Affairs separately”

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