Private Company Compliances Under Companies Act 2013

Companies registered in India are advised to keep track of all significant due dates for Private Company Compliances Companies Act 2013 at the start of every financial year. Companies of all sizes and types, including small and large ones, as well as private limited and public limited companies, are included in this. Companies must be aware of all the Compliance-related due dates that fall inside the next financial year, emphasizing the importance of adhering to Private Company Compliances under the Companies Act 2013.

The ROC filing of annual accounts is governed by Section 129 (3), 137 of The Companies Act, 2013 read with Rule 12 of the Company (Accounts) Rules, 2014, and the annual return is governed by Section 92 of the Companies Act, 2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014. It is crucial for companies to ensure compliance with these regulations as part of Private Company Compliances under the Companies Act 2013 to maintain their legal standing and transparency.

We have prepared a calendar with all the Important Statutory Due Dates for Private Limited Companies and Public Limited Company Annual Filing to assist you with this Compliance of The Company. For the financial year 2022–2023, this calendar includes information on ROC Annual Return Filing Due Dates, Event-based ROC Filing Due Dates and more, highlighting the significance of Compliance of The Company for maintaining regulatory adherence.

What does “Company Annual Filing” mean?

Every incorporated company in India is expected to file its annual accounts and returns to the Registrar of Companies within 30 and 60 days (AOC-4 and MGT-7) following the conclusion of the Annual General Meeting, respectively, as part of Compliances applicable to Private Companies. According to the Ministry of Corporate Affairs, every company must comply with the due dates for filing their ROC Annual Filing Forms to ensure proper Compliances applicable to Private Companies. There is no way to escape paying hefty fines if a company violates the ROC Annual Compliance requirements, which will be in addition to the regular fees levied by the Ministry of Corporate Affairs.

Goal of Roc Compliance for Pvt Ltd

The Goal of Roc Compliance for Pvt Ltd are given below:

Statutory Compliance: The main goal of submitting the ROC annual return for the financial years 2022–23 is to ensure Private Company Compliances Companies Act 2013 as part of Roc Compliance for Pvt Ltd. All registered companies are required to fulfill it as a legal requirement to maintain Roc Compliance for Pvt Ltd.

Clarity: The submission of the ROC annual return for FY 2022–23 encourages openness and accountability by disseminating comprehensive data regarding the status of the company’s finances, governance system, and ownership as part of Companies Act Compliance. This commitment to transparency is a crucial aspect of Companies Act Compliance, ensuring that stakeholders have access to relevant information.

Public Disclosure: Certain information contained in the filing of ROC’s annual return for FY 2022–23 is open to public scrutiny, enabling stakeholders, investors, and creditors to make knowledgeable decisions about the company. This transparency is a key element of Private Company Compliances Companies Act 2013, emphasizing the importance of adhering to regulatory standards.

List of ROC Compliances for Private Limited Companies:

List of ROC Compliances for Private Limited Companies is mentioned below month wise-

Forms to be filed with ROC by Private Company before 30^th April 2023

• Form MSME-1 (MSME Half-yearly Returns) due by April 30, 2023
• Form MSME 1 must be filed by companies registered under the MSME Act of 2006.
• Companies that owe MSME companies money and have over 45 days to pay them have to fill out Form MSME 1.
• MSMEs are required to submit a return to the Registrar every six months detailing any unpaid invoices they have to Micro or Small Businesses.
• Form MSME 1 must be filed by April 30, 2023, for the financial year 22-23

Forms to be filed with ROC by Private Company before 31^st May 2023

Form PAS-6 filing must be filed before 30 May 2023

• All Deemed Public and Unlisted Companies must file Form PAS-6, a “Reconciliation of Share Capital Audit Report,” every six months.
• The PAS 6 format has already been established by the Ministry of Corporate Affairs.
• Form PAS 6 is due on May 30, 2023, for the half-year ending on March 31, 2023.

FORM 11 (LLP) (Return of Limited Liability Partnership annually) must be filed before 30 May 2023

• Limited Liability Partnerships (LLPs) must also abide by the obligations for FY 22–23 ROC annual return filing. After the Financial Year has ended, the annual return, also known as FORM 11, must be filed within 60 days. The deadline for FORM 11 is May 30, 2023, for the financial year 22–23. To avoid fines, LLPs must make sure they submit this return on time.

Forms to be filed with ROC by Private Company before 30^th June 2023

Form DPT-3 filing must be filed before 30 June 2023

• Companies have to file Form DPT-3, Annual Return of Deposits, if they had any loans or advances as of March 31, the last day of the financial year.
• Following the end of the financial year, Form DPT 3 must be submitted within 90 days. For FY 2022–23, Form DPT 3 must be filed by June 30, 2023.

Compliances applicable to Private Companies which is to be done before 31^st July 2023

FLA Return filing must be filed before 15 July 2023

• The Reserve Bank of India (RBI) requires companies to file a Foreign Liabilities and Assets Annual Return (FLA Return) each year.
• The FLA Return is due on July 15, 2023, for the financial year that ends on March 31, 2023.

Compliances applicable to Private Companies which is to be done before 30^th Sep 2023

Form DIR 3 KYC must be filed before 30 September 2023

• Every person whose DIN was assigned on or before the end of the financial year and whose DIN status is “Approved” must fill out Form DIR-3 KYC before September 30 of the following financial year.
• The Financial Year 2022–2023 Form DIR 3 KYC is due on September 30, 2023.

Form AOC 4 (for OPC) must be filed before 27 September 2023

• Within 180 days of the end of the financial year for One Person Companies (OPCs), by September 27, 2023.

Compliances applicable to Private Companies which is to be done before 31^st October 2023

Following is the List of Compliance For Pvt Ltd Company for October 2023

Form ADT-1 must be filed before 14 October 2023

• After the AGM, companies have to file Form ADT-1 to notify the ROC (Registrar of Companies) of the appointment of the auditor.
• Within 15 days after the end of the AGM where the appointment of the auditor was made, Form ADT-1 must be filed.
• If the AGM date is September 30, 2023, the deadline to file Form ADT 1 is October 14, 2023.

Form AOC-4 must be filed before 29 October 2023

• e-Form AOC 4   is used for submitting the company’s financial statements to the ROC.
• The deadline for AOC 4 XBRL for FY 2022–23 is October 29, 2023.

Form MGT-15 must be filed before 29 October 2023

• (Listed Companies) All Listed Companies are required to file the ROC Form MGT 15.
• It is a form that must be included with the ROC when filing the annual general meeting report.

Form MGT-14 must be filed before 29 October 2023 (If any resolution was passed)

• For the purpose of filing a special resolution or an ordinary resolution with MCA about the board report and annual accounts, Form MGT 14 must be included with the ROC.
• If the AGM was held on September 30, 2023, then the due date for filing Form MGT 14 is October 29, 2023.
• It is now required to submit any board-approved resolutions in ROC form MGT 14 to the Registrar of Companies whenever a board meeting passes a resolution.

Form MSME-1 (MSMe Half yearly Returns) must be filed before 31 October 2023

• Companies that are registered under the MSME Act of 2006 are required to file Form MSME 1.
• Companies that owe MSME Companies money and have had unpaid invoices for more than 45 days must submit this form.
• For the unpaid invoices to the Micro or Small Enterprises, each MSMe is required to file a half-yearly return to the Registrar.
• The deadline for filing Form MSME 1 for the financial year 2022–23 covering the months of April 2023 through September 2023 is October 31, 2023.

FORM 8 for LLP (Account & Solvency) to be filed before 30 October 2023

• FORM 8, also known as the LLP Statement of Account & Solvency, must be filed by LLPs. After the first six months of the financial year have ended, this form must be filed within 30 days. The deadline for FY 2023–24 is October 30, 2023. LLPs should follow this schedule in order to appropriately report their financial situation.

Compliances applicable to Private Companies which is to be done before 30^th November 2023

Form MGT 7 & MGT 7A must be filed before 28 Nov 2023

• All Private Limited Companies and Public Limited Companies registered in India are required to submit Form MGT-7 to the Registrar of Companies (ROC) annually.
• All One Person Companies and Small Companies registered in India are required to submit Form MGT-7A to the Registrar of Companies (ROC) annually.
• Every company must fill out an electronic form issued by the Ministry of Corporate Affairs with the information for their yearly return.
• 60 days from the date of the annual general meeting, the MGT-7 filing deadline applies.
• As a result, the deadline to submit Form MGT 7 and MGT 7A (according to the MCA Help Kit) for the ROC Annual Filing for the Financial Year 2022–2023 is November 28, 2023. (If we take into account the day of the AGM)

Form PAS 6 must be filed before 28 Nov 2023

• The unlisted public company must submit Form PAS-6, a “Reconciliation of Share Capital Audit Report,” twice a year on a half-yearly basis (for the half year ending on 30.09.2023 for all unlisted companies, deemed public companies).
• The due date for Form PAS 6 for the six-month period ending September 30, 2023 is November 29, 2023.

Penalties and Additional Fees for late Filing of ROC Forms

It is important to remember the deadlines for filing the ROC annual return for the financial year 2022–23. Penalties and additional costs may apply if forms are not submitted by the deadlines mentioned. From July 1, 2018, there will be an additional price of Rs. 100 per day for E-forms AOC-4 (XBRL and Non-XBRL) and MGT-7, emphasizing the significance of Compliance to be followed by Private Company in adhering to regulatory requirements. Compliance to be followed by Private Company is essential to avoid financial repercussions and ensure smooth adherence to legal obligations.

And while for other forms, the penalties are as follows:

• Up to 30 days: 2 times of applicable fees
• More than 30 days and up to 60 days: 4 times of applicable fees
• More than 60 days and up to 90 days: 6 times of applicable fees
• More than 90 days and up to 180 days: 10 times of applicable fees
• More than 180 days and up to 270 days: 12 times of applicable fees

These fines can pile up, highlighting how crucial it is to submit your ROC annual return by the deadlines for FY 2022–23.

Conclusion

Respecting ROC filing deadlines is essential to good corporate governance and ethical company practices, as well as the law. The deadlines for submitting the ROC annual return for the financial year 2022–2023 are significant dates that LLPs and companies alike need to be aware of. These dates must be strictly adhered to in order to prevent financial penalties and legal consequences from missing them. Staying informed and proactive is essential to ensure seamless ROC compliance and preserve the integrity of corporate operations in this constantly changing regulatory environment, highlighting the importance of Private Company Compliances Companies Act 2013 in maintaining legal and ethical standards. Private Company Compliances Companies Act 2013 plays a crucial role in guiding companies to meet their legal obligations and uphold ethical standards in their operations

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