All About Form AOC-4 and MGT-7 | Ebizfiling

   Introduction 

 

The annual report and audited financial statements that a company has to submit to the Ministry of Corporate Affairs on time or before the deadlines are referred to as "ROC filings." A company will be charged with a prescribed fine if it fails to file annual returns as specified by the Companies Act, 2013. In this article, we will focus on two types of annual compliance of Private Limited Company, namely AOC-4 for financial statements and MGT-7 for company annual returns. Both are submitted to the MCA within the allotted time frames of 30 days for AOC-4 and 60 days for MGT-7 following the Annual General Meeting (AGM).




 

 What are Form AOC-4 and MGT-7? 

 

Form AOC-4 is used to file a company's financial statements at the end of each financial year. This form is submitted to ROC. Financial statements are a tool that the Board of Directors and shareholders use to evaluate the performance of the company. The company only has 30 days from the annual general meeting to fill in the form properly. You can get the Form AOC-4 from the MCA portal's annual E-filing category.

 

The Form MGT-7 is used to file a company's annual return at the end of each financial year. It is an electronic form issued by the MCA. The company only has 60 days from the annual general meeting to fill the form properly. Form MGT-7 is available for download from the MCA portal under the annual E-filing category.

 

 Due date of filing AOC-4 and MGT-7 

 

MGT-7 must be filed within 60 days of the date of the Annual General Meeting. The deadline for holding an AGM is the 30th September following the conclusion of a financial year. Therefore, the 29th November is usually the deadline for submitting form MGT-7.

 

The filing deadline for AOC-4 is 30 days after the date of the Annual General Meeting. The deadline for holding an AGM is the 30th September following the conclusion of a financial year. As a result, the deadline for submitting form MGT-7 is usually 30th October every year.

 

 Penalties for non-filing of AOC-4 and MGT-7 

 

The fine for not submitting Form MGT-7, a company's annual return, is Rs. 100 (Rupees One Hundred) for per day for the default. The fine for not submitting Form AOC-4, the company's financial statement, is Rs. 100 (Rupees One Hundred) for each day for default. Hence, both the compliance of a Private Limited Company is important and it is necessary to comply with the filing for the smooth running of the business.

 

 Key takeaways 

 

Every year the company has to prepares the financial statements and annual report in the Annual General Meeting and submit them to MCA by filing the forms AOC-4 and MTG-7. . Failing to file these Private Limited Company compliances can cause you a penalty of Rs.100 per day for each form and if the default continues the fine will increase.

 

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