A brief discussion about some compliances which have to follow by a company after incorporation or annually

By -

After incorporation company has to follow certain compliances, and certain compliances which has to follow annually, hence to know about these compliances please take a look below mentioned table.


 

Sr. No.

Particulars

Time Limit

Fees and Penalty

Remarks

1

After Incorporating company have to deposit Paid up Capital in Bank Account

Immediately

No fees

 

2

Declaration of Commencement of Business file in form INC-20A

Within 180 days from the date of incorporation

Check Fees & late fees below mentioned Penalty:

Rs. 50,000/- to Company

Rs. 1000 per day to every officer (Max. 1,00,000 per officer)

 

3

Notice of situation or change of situation of registered office to be filed in form INC-22

Within 30 days from the date of incorporation or change

Check Fees & late fees below mentioned

 

4

Conduct first board meeting & Appoint first auditor (ADT-1)

Within 30 days from the date of incorporation

Penalty:

Rs. 25,000 to company

Rs. 5,000 per officer to every officer in default

 

5

Notice of deposits to be filed in form DPT-3

Within 90 days from the closure of financial year

Check Fees & late fees below mentioned Penalty:

Rs. 5,000 to Company

Rs. 500/day per officer to every officer in default

Deposits taken from directors, friends etc.

6

File form MSME-1 in relation to outstanding dues to MSME along with reason

(Half yearly)

For period April to September-31st October

For period October to March – 30th April

No fees

Penalty:

Rs. 25,000 to Company,

Rs. 25,000 – 3,00,000 or Imprisonment upto 6 moths or both for director

If purchase or sale from or to MSME

7

Update KYC of directors in form DIR-3

Upto 30th April of every financial year

No fees, but after due date late fees Rs. 5,000

Time may be extended.

8

Active Company tagging identification and verification form was required to be filed for verification of Regd. Office in form INC-22A

15th June, 2019 for financial year 2018-19 but it may be applicable for f.y. 2019-20

Fees:10,000

Picture of interior of the office.

9

Conduct AGM every year

Within 6 months from the end of Financial Year

Penalty:

Rs. 1,00,000 to company & every officer

Continuing default then further Rs. 5,000 per day

 

10

File ADT-1 (intimation of Appointment of auditor to ROC)

Within 15 days from the date of conduct of AGM

Check Fees & late fees below mentioned

 

11

File AOC-4 (Details of financial statements etc.)

Within 30 days from the conduct of AGM

Check Fees & late fees below mentioned

 

12

File MGT-7 (Details of Shareholders or debenture holders etc.)

Within 60 days from the date of conduct of AGM

Check Fees & late fees below mentioned

 

13

Filing income tax Return

Before 30th September every year

 

 

 

The fees for filing Form INC-20A/INC-22/DPT-3/ADT 1/AOC-4/MGT-7 with the registrar of companies are:

Sr. No.

Share Capital of Co. (value)

Fees (rupees)

1

Less than 1,00,000

200

2

1,00,000 to 4,99,999

300

3

5,00,000 to 24,99,999

400

4

25,00,000 to 99,99,999

500

5

1,00,00,000 or more

600

 

 

 

 

 


Late filing of Form INC-20A/INC-22/DPT-3/ADT 1/AOC-4 will attract these penalty fees specified below:


Sr. No.

Delay in filing (no. of days)

Penalty

1

Upto 30 days

2 times of normal fees

2

More than 30 days to 60 days

4 times of normal fees

3

More than 60 days to 90 days

6 times of normal fees

4

More than 90 days to 180 days

10 times of normal fees

5

More than 180 days

12 times of normal fees

 

 

 

 

 


Note: Late fees for filing Form MGT-7 is Rs. 100 per day additional fees along with normal fees.

Additional - Late filing of Form AOC-4 will attract these penalty fees specified below:

In case of delay in filing the annual returns/balance sheet/financial statement the following fees is applicable:

Period of Delay

Additional fee payable

Delay beyond the period provided under Section 137(1) of the Act – Due dates to file AOC 4 (within thirty days of the date of annual general meeting)

Rupees 100 per day


Penalty for non-filing AOC 4

Defaulting Party

Penalty Imposed

Company

INR 1000 for every day of default subject to

Max of INR 10 Lakhs

1. Managing Director/Chief Financial Officer

2. In case of the absence of the Managing Director/Chief Financial Officer-Any other Director who the Board assigns the responsibility.

3. In case of the absence of any such Director-All directors of the company

INR 1 Lakh

+

INR 100 for each day of default subject to Max of INR 5 Lakhs


To download this in pdf format please click on this link below: 

https://drive.google.com/file/d/1TPf7qLYDW69xV3e4PYCue7kXe3Qh99Bw/view?usp=sharing

Comments

Post a Comment

Popular posts from this blog

All about one person company

By -
Image
Meaning of One Person Company One-person company means as its name says that only one person in a company as a member. In other words, we can say one-person company can be incorporated by having an only one member. The Companies Act, 2013 completely revolutionized corporate laws in India by introducing several new concepts that did not exist previously. On such game-changer was the introduction of One Person Company concept. This led to the recognition of a completely new way of starting businesses that accorded flexibility which a company form of entity can offer, while also providing the protection of limited liability that sole proprietorship or partnerships lacked.   Advantage: Main advantage of the one-person company is limited liability of Member . There are less compliances than a private limited company other than one-person company. Perpetual Status. The member can be exit easily by transferring his/her share.   Limitation: Paid
Read more

Analytical view of GST Registration and their applicability limit..

By -
Image
Introduction In any tax system registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. Without registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him. Need & Advantages of registration There are following advantages: 1.       Legal Recognition 2.       Authorized to collect tax from customers 3.       Claim input tax credit 4.       Seamless flow of input tax credit. Type of taxable person 1.       Normal taxable person: Registration for all but not include all mentioned below person. 2.       Composition taxable person : No input tax credit allowed and GST have to pay on concessional rat
Read more

A Complete Information about Limited Liability Partnership along with compliance after incorporation and annually..

By -
Image
Applicable Act: Limited Liability Partnership Act, 2008   Meaning: Limited Liability Partnership (LLP) allows for a partnership structure where each partner’s liability is limited to the amount they put into the business. It therefore can exhibit elements of partnership & corporation. In LLP each partner is not responsible or liable for another partner’s misconduct or negligence.   Advantages: LLP is separate legal entity to the members; hence liability of members is limited to the extend their contribution. Flexibility because of written agreement. Identification as a legal person, it can buy, rent, lease, own property, employ staff etc. if necessary. Corporate ownership: LLP can appoint two companies as members of the LLP. In a company at least one director must be real person. An LLP should have designated and non-designated members but at least two designate members. Protecting the partnership name. in other words, prevent
Read more