It is necessary for each company to furnish the annual accounts and annual returns according to the Companies Act, 2013. The ROC filing is administered under Section 129 (3), 137, of The Companies Act, 2013 along with Rule 12 of the Company (Accounts) Rules, 2014. Under this head, the annual return is administered under Section 92 of the Companies Act, 2013 and Rule 11 of the Companies (Management and Administration) Rules, 2014. Below is the ROC compliance calendar for the fiscal year 2023-24. Please keep track of the ROCannual filing due date in FY 2023-24 as per the provided calendar.
Under Section 609 of the Companies Act Registrars of Companies (ROC) appointed wrapping the various States and Union Territories are vested with the duty of registering companies and LLPs floated in the respective states and the Union Territories and ensuring that these companies and LLPs comply with legal requirements under the Act. These offices function as a registry of records, connecting to the companies registered with them, which are available for inspection by members of the public on payment of the specified fee. Over these offices the Central Government exercises administrative control through the respective Regional Directors.
In ROC annual return filing under income tax return, there is a provision of the penalty and additional fees which vary on the period of delay in return filing. Also, stakeholders can file company law e-forms via ROC software with the automatic fetching feature.
What is the term ROC Compliance refers to?
The Registrar of Companies (ROC) operates, as an authority, within the Ministry of Corporate Affairs (MCA). Its major role involves the maintenance and administration of records of companies registered in India. It also ensures that these companies follow the rules cited in the Companies Act of 2013. ROC annual compliance is in submitting annual returns and financial statements, among other documents, within stipulated timelines.
Purpose of ROC Annual Return (Form MGT-7):
The purpose of the ROC Annual Return is given below:
Statutory Compliance: The objective of filing ROC annual returns for FY 2023-24 is to ensure statutory compliance with the Companies Act, 2013. It acts as a legal obligation that all registered companies must fulfil.
Transparency: The filing of the ROC annual return for FY 2023-24 encourages transparency and accountability by furnishing precise information concerning the company’s financial health, governance structure, and ownership.
Public Disclosure: Certain information contained in the filing of ROC annual return for FY 2023-24 is available for public inspection, permitting stakeholders, investors, and creditors to make informed decisions for the company.
Why ROC Filings Are Essential?
- Legal Compliance: Under the Companies Act, 2013 ROC filing is mandatory, allowing companies to avoid penalties and maintain their legal status.
- Transparency and Trust: By revealing vital information about the company’s processes and financial health it ensures clarity, building trust among stakeholders.
- Corporate Governance: Regular filings report influential changes like directorship alterations and shareholding patterns, supporting effective governance.
- Financial Health Assessment: Financial statements filed with the ROC deliver insights into the financial stability of the company, aiding stakeholders in making informed decisions.
- Statutory Record Keeping: ROC filings maintain a legal record of a company’s historical data, critical for legal referencing and historical analysis.
- Risk Mitigation: Timely filings assist in lessening the risks related to non-compliance, like penalties or potential deregistration, improving the market credibility of the company.
What is ROC Annual Return for FY 2023-24?
The ROC Annual Return, also called Form MGT 7, is a filing obligation for companies registered in India according to the Companies Act, 2013. The ROC Annual Return, also called Form MGT 7, is a filing obligation for companies registered in India under the Companies Act of 2013. It acts as a document that includes details financial and operational activities of the company within a particular financial year. Submitting the ROC return for FY 2023 24 is an element of complying with corporate regulations in India. It is to be accomplished within the specified time duration of the Registrar of Companies (ROC).
Here’s a detailed look at the ROC Annual Return for FY 2023-24:
Due Dates of ROC Annual Return Filing FY 2023-24
It is obligatory for every company registered under the Companies Act, 2013 and every LLP registered under the Limited Liability Partnership Act, 2008 to furnish all ROC filing forms before the deadline. If they fail to do so there are lawful consequences and hefty fines. Hence, it must be of utmost priority for companies and LLPs to keep themselves aware of all significant deadlines, along with both annual and even ROC compliance.
Given below is the All ROC compliance calendar for regular and annual returns during FY 2023-24
| Relevant Section and Act | Name of E-form | Purpose of E-form | Due Date of Filing | Due Date for FY 2023-24 |
|---|---|---|---|---|
| Section 139 of Companies Act, 2013 | Form ADT-1 | Appointment of Auditor | (if applicable) 15 days of the meeting in which the auditor is appointed | 15.10.2024 (*If appointed in AGM and Date of AGM is 30.09.2024) |
| Section 137 of the Companies Act, 2013 | Form AOC-4 and Form AOC-4 CFS (in case of consolidated financial statements) | Filing of Annual Accounts | 30 days from the conclusion of the AGM (In the case of OPC within 180 days from the close of the financial year) | 29 October 2024 27th September 2024 for OPC |
| Section 92 of the Companies Act, 2013 | Form MGT-7/ MGT-7A | Filing of Annual Return | 60 days from the conclusion of the AGM | 60 days from the conclusion of the AGM or 28th November 2024 (Which Ever is Earlier) |
| Section 148 of the Companies Act, 2013 | Form CRA-4 | Filing of Cost Audit Report | 30 days from the receipt of the Cost Audit Report | 30 days from the receipt of Cost Audit Report |
| Section 179 of the Companies Act, 2013 | Form MGT-14 | Filing of resolutions with MCA regarding Board Report and Annual Accounts | 30 days from the date of financial statements and Board Report by the Board of Directors | 30 days from the date of the Board Meeting |
| Vide Gazette notification S.O. 5622(E) dated 02.11.2018 | MSME Form 1 | Half-yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise. | For reporting dues to MSME exceeding 45 days, if any on a half- yearly basis | 30th April 2024 (October-March Period) & 31st October 2024 (April- September Period) |
| Section 34 of Limited Liability Partnership Act, 2008 | MCA LLP FORM 8 | Statement of Accounts of LLP | The Statement of Account and Solvency must be submitted within thirty days of the end of the financial year it pertains to | 30th October 2024 |
| Section 35 of Limited Liability Partnership Act, 2008 | MCA LLP Form 11 | Annual Return | Within 60 days of closure of the financial year | 30th May 2024 |
Also, it is to be noted that the Ministry of Corporate Affairs has extended the dates for the annual general meetings for companies and advised to conduct the same via video conferencing of possible. To know more about the latest AGM provisions, check out https://blog.saginfotech.com/agm-due-date-new-company
Latest Notifications
- MCA department has issued a circular regarding the due date extension for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL AOC-4 Non-XBRL till 15th March 2022 and MGT-7, and MGT-7A till 31st March 2022, Read new circular.
- “Gap between two board meetings under section 173 of the Companies Act, 2013 (CA-13) – Clarification – reg.” Read PDF
- “Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013.” Read PDF
Due Date for AOC-4 NBFC (Ind AS) & AOC-4 CFS NBFC (Ind AS)
According to the MCA, the deadline for the AOC-4, the AOC-4 (CFS), the AOC-4 XBRL, and the AOC-4 Non-XBRL forms have been extended until 27 September 2024 for OPC and 29 October 2024 for other than OPC i.e. within 30 days of AGM. For the various types of forms MGT 7/MGT 7-A, the deadline has been extended to 28 November 2024 i.e. within 60 days of AGM.
Penalty/Additional Fees
“Additional Fees for E-form AOC-4 (XBRL and Non-XBRL) and E-form MGT-7 after the due date is Rs. 100 per day with effect from 1st July 2018.”
In addition to the above, the following table of additional fees shall be applicable for delays in filing of belated annual returns or balance sheet/financial statement under the Companies Act, 1956 or the Companies Act, 2013 up to 30/06/2018:
| Period of Delays | Fees |
|---|---|
| Up to 30 days | 2 times of normal fees |
| More than 30 days and up to 60 days | 4 times of normal fees |
| More than 60 days and up to 90 days | 6 times of normal fees |
| More than 90 days and up to 180 days | 10 times of normal fees |
| More than 180 days and up to 270 days | 12 times of normal fees |
