{"id":26944,"date":"2019-11-26T19:05:41","date_gmt":"2019-11-26T13:35:41","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=26944"},"modified":"2019-11-27T11:07:36","modified_gmt":"2019-11-27T05:37:36","slug":"steps-for-filing-of-annual-return-as-per-companies-act-2013","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/steps-for-filing-of-annual-return-as-per-companies-act-2013\/","title":{"rendered":"Read about Filing of Annual Return as Per Companies Act 2013"},"content":{"rendered":"<p class=\"has-drop-cap\">Every company is required to <strong>file an <a href=\"https:\/\/enterslice.com\/learning\/checklist-for-certification-of-annual-return\/\">annual return<\/a><\/strong> with the Registrar of the Companies at the end of financial year. Filing of Audited Financial Statement and Annual return <strong>within a period of 30 days and 60 days<\/strong> from the date of the conclusion of the Annual General Meeting. This blog will help you to gain knowledge about the procedure involved while filing of annual return.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is Annual Return?<\/h2>\n\n\n\n<p>The\nannual return is a return filed to the ROC which contains the requisite\ninformation about a company&rsquo;s financial position, structure and activities\ninvolved. Every company incorporated under <strong>the Companies Act 2013 or 1956,<\/strong>\nneed to file an Annual Return at the end of every financial year. As per the\nprovisions of the Companies Act 2013, the Annual return shall consist of the\nfollowing information-<\/p>\n\n\n\n<ul><li><strong>Detailed Financial\nStatement.<\/strong><\/li><li><strong>Details of Directorship\nor any change in directorship,<\/strong><\/li><li><strong>Details of Shareholders\nand Debenture holders,<\/strong><\/li><li><strong>Disclosure of Share\nTransfer,<\/strong><\/li><li><strong>Disclosure of charges\nagainst the Company,<\/strong><\/li><li><strong>Details of the registered office<\/strong><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Categories Required to File Annual Return.<\/strong><\/h3>\n\n\n\n<p>3\nclass of categories of companies are required to file and comply with the\nprovision of filing an&nbsp;<strong>annual return<\/strong>;<\/p>\n\n\n\n<ol><li><strong>The Company with Class 1 category <\/strong>incorporated under the <strong>Companies Act, 2013 of the Companies Act, 1956<\/strong> is required to file an Annual Return in <strong>Form MGT 7 within 60 days<\/strong> from the date of the conclusion of its Annual General Meeting. Further, Financial statement is also required to be filed by the companies <strong>Form AOC-4 within 30 days<\/strong> from the conclusion of their AGM.<\/li><li><strong>Class II<\/strong>: In the Strike-off Public Notice, Companies whose name has been published for not complying with the Annual Compliance and Filing.<\/li><li><strong>Class III<\/strong>: Companies with the disqualified director under Section 164(20) for not filing an annual return.<\/li><\/ol>\n\n\n\n<p><strong>What are the steps involved while fling Annual Return-<\/strong>The following steps are\ninvolved while filing the annual return;<\/p>\n\n\n\n<p><strong>Proper maintenance of Accounts-<\/strong><\/p>\n\n\n\n<p>For every company filing the Annual return, it is obligatory to maintain a Book of Accounts which helps in keeping track of the financial matters of the company. <strong><a href=\"http:\/\/www.mca.gov.in\/\">As per the Companies Act, 2013<\/a><\/strong>, it is mandatory for all companies to maintain a Book of Accounts in a specified format.<\/p>\n\n\n\n<p><strong>Books of Account shall include-<\/strong><\/p>\n\n\n\n<ol><li>Disclosure of amount received or spent by the company,<\/li><li>Assets and liabilities of the company<\/li><li>Sales and purchases of the company<\/li><li>Other relevant financial or business arrangements.<\/li><\/ol>\n\n\n\n<p><strong>Company&rsquo;s Financial Statements-<\/strong><\/p>\n\n\n\n<p>The Financial Statement is based on the Books of account\nprepared by the Company. Financial Statement is a statement that reflects the\naccountability of the company. The financial statement is a source of\ninteraction between the entity and the <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Shareholder&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;A shareholder is an individual or entity that owns at least one share of a company&amp;#039;s stock, granting them partial ownership of the company. This status allows them certain rights, including(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/shareholder\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>shareholder<\/a>. For filing financial\nstatements, <strong>Form AOC-4<\/strong> is required to be filed for each financial year\nwith the Registrar of the Companies. Financial Statement includes &ndash;<\/p>\n\n\n\n<ul><li><strong>Balance Sheet,<\/strong><\/li><li><strong>Profit and Loss Account,<\/strong><\/li><li><strong>Explanatory note annexed to the above document.<\/strong><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Conducting Audit of Financial Statements-<\/h3>\n\n\n\n<p><strong>For conducting Audit of Financial Statements,<\/strong> every Company is\nrequired to appoint its 1<sup>st<\/sup> Auditor within one month from the date\nof incorporation of the company. <\/p>\n\n\n\n<div class=\"shadow4\"><strong>Note-<\/strong> An individual who is a qualified Chartered Accountant in practice, or an entity of Chartered Accountants may be selected as Auditor of a Company.&#65279;<\/div>\n\n\n\n<p>After\nbeing appointed by the Company, The Auditor needs to audit the financial\nstatements of the Company and submit the report on the Books of accounts of the\nCompany to the stakeholders. The Auditor is also required to furnish in his\nreport whether the accounts of the Company give a true and fair view of the\nstate of affairs of the Company.<\/p>\n\n\n\n<p><strong>Conducting an Annual General Meeting<\/strong><\/p>\n\n\n\n<p>An Annual General\nMeeting is a communicant of the shareholders of a Company held every year. An\nAnnual general meeting gives a comprehensive view of what steps a company shall\nmake to be more successful, which helps the shareholders,\nmembers, and the board to decide the future course of action. The annual\ngeneral meeting must be held on a working day at the registered office of the\ncompany.<\/p>\n\n\n\n<p>The\nAnnual General Meeting shall be held within <strong>15 months from the date of\ncommencement<\/strong> of the previous Annual General Meeting. In the case of a newly\nincorporated company, the first meeting&nbsp;must be held within <strong>18 months\nfrom the date of incorporation&nbsp;of the Company<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Procedure involved while filing Annual Return<\/h3>\n\n\n\n<p>The\nprocedure involved for filing the annual return and&nbsp;Audited financial\nstatement to the Roc&nbsp;can be easily understood by the below-mentioned\nsteps-<\/p>\n\n\n\n<p>1. Conducting\na Board Meeting and by Passing a Board Resolution-<\/p>\n\n\n\n<ul><li>To Appoint and authorize the auditor for the preparation of financial statements as per Schedule III of the      Companies Act, 2013.<\/li><li>To Authorize the Director of the Company or Company Secretary for preparation of Board Report and Annual Return as per the Companies Act, 2013.<\/li><\/ul>\n\n\n\n<p>2. Conducting the 2nd Board Meeting for approving the draft\nfinancial statements, Board Report and Annual Return by the directors of the\ncompany.<\/p>\n\n\n\n<p>3. Furthermore, Conducting the Annual General Meeting of the\nCompany and pass the necessary resolutions. <\/p>\n\n\n\n<div class=\"shadow1\"><strong>Note-<\/strong> The draft&rsquo;s financial statements shall be considered once approved by the Shareholders of the Company.<\/div>\n\n\n\n<p>Forms used for filing Financial Statement (AOC-4) and Annual\nReturn (MGT-7)<\/p>\n\n\n\n<div class=\"shadow1\"><strong>1. Form AOC 4:<\/strong>&nbsp;Form for filing the financial statements and required documents<br>\n<strong>2. Form AOC 4- CSF:<\/strong>&nbsp;Form for filing a financial statement containing salient features of consolidated financial statement of a group.<br>\n<strong>3. Form AOC 4- XBRL:<\/strong>&nbsp;Form for filing XBRL documents in respect of financial statement and other documents<br>\n<strong>4. Form MGT 7:<\/strong>&nbsp;Form for filing Annual Return by companies having share capital<\/div>\n\n\n\n<p><strong>Certification of the Annual Return:&nbsp;Annual Return shall be\nsigned by the Director and Company Secretary of the Company.<\/strong><\/p>\n\n\n\n<p>In\ncase there is no Company Secretary in the company, a Practicing Company\nSecretary shall sign the Annual Report. &nbsp;<\/p>\n\n\n\n<p>Note-However,\nin the case of OPC (One Person Company), it shall be signed by the director of\nthe company.<\/p>\n\n\n\n<p><strong>Key content and Documents of MGT-7<\/strong><\/p>\n\n\n\n<p>The\nfollowing documents are required to be submitted along with the <strong>Form MGT 7-<\/strong><\/p>\n\n\n\n<ul><li><strong>Balance Sheet of the Company, Profit &amp; Loss Account<\/strong><\/li><li><strong>Compliance Certificate, Registered Office Address<\/strong><\/li><li><strong>List of shareholders and shareholding structure of the company<\/strong><\/li><li><strong>Details of transfers or Transmission of shares.<\/strong><\/li><li><strong>Details of Shares and Debentures<\/strong><\/li><li><strong>Directorship Details and details of Change in Directorship.<\/strong><\/li><\/ul>\n\n\n\n<p><strong>Conclusion-<\/strong><\/p>\n\n\n\n<p>For\nall companies registered under the Companies Act, 2013 or Companies Act 1956, Filing\nof Annual Return is mandatory compliance. Further, the extract of the Annual\nreturn is attached to the Board Report in <strong>Form MGT-9<\/strong>.<\/p>\n\n\n\n<div class=\"read\"><p><b>See More<\/b> <mark><a href=\"https:\/\/enterslice.com\/learning\/checklist-for-certification-of-annual-return\/\" target=\"_blank\" rel=\"noopener noreferrer\">Checklist for Certification of Annual Return<\/a><\/mark>.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Every company is required to file an annual return with the Registrar of the Companies at the end of financial year. Filing of Audited Financial Statement and Annual return within a period of 30 days and 60 days from the date of the conclusion of the Annual General Meeting. This blog will help you to [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":26955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1322,2369],"tags":[2826],"acf":{"service_id":"127"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Steps for Filing of Annual Return As Per Companies Act 2013<\/title>\n<meta name=\"description\" content=\"Every company needs to file the annual return and audited financial statements as per the provision of Companies Act. 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