MCA Returns and Compliance for Companies: A Complete Guide

Filing returns and adhering to compliance regulations under the Ministry of Corporate Affairs (MCA) is essential for all registered companies in India. These requirements ensure corporate transparency, accountability, and good governance.

Key MCA Compliances for Companies

  1. Annual Returns (Form MGT-7/MGT-7A):

    • Purpose: Captures the company’s basic details, including shareholding structure and management.
    • Due Date: Within 60 days of the Annual General Meeting (AGM).

  2. Financial Statements (Form AOC-4):

    • Purpose: Submission of audited financial statements like the balance sheet and profit & loss statement.
    • Due Date: Within 30 days of the AGM.

  3. Annual General Meeting (AGM):

    • Applicability: Mandatory for private limited companies, OPCs (exempt from AGM), and LLPs (filing only).
    • Due Date: Must be held within 6 months of the financial year-end (by September 30 for most companies).

  4. Director KYC (Form DIR-3 KYC):

    • Purpose: Verifies the authenticity of directors by updating their details annually.
    • Due Date: Before September 30 every year.

  5. DIN Active Compliance (Form DIR-3 KYC WEB):

    • Purpose: Renewal of active DINs (Designated Identification Numbers).

  6. Commencement of Business (Form INC-20A):

    • Applicability: For companies incorporated after 2019, this form must be filed to declare the start of business activities.
    • Due Date: Within 180 days of incorporation.

  7. Significant Beneficial Ownership (Form BEN-2):

    • Purpose: Discloses individuals owning 10% or more shares in a company.

  8. MSME-1 Filing:

    • Applicability: If the company has outstanding payments to MSME suppliers exceeding 45 days.
    • Due Dates: Twice a year (April to October and October to March).

MCA Compliance for LLPs

  1. Annual Return (Form LLP-11):

    • Purpose: Annual statement detailing partners and management.
    • Due Date: May 30 of every year.

  2. Statement of Accounts & Solvency (Form LLP-8):

    • Purpose: Submission of financial records of the LLP.
    • Due Date: October 30 of every year.

Consequences of Non-Compliance

Failure to meet MCA compliance can result in:

  • Fines: Penalties for non-compliance can range from ₹10,000 to ₹1 lakh or more, depending on the form and delay.
  • Director Disqualification: Directors may be disqualified for non-filing of returns for three consecutive years.
  • Company Striking Off: Non-compliance over a prolonged period may lead to the company being struck off by the ROC.

How AK Mehta & Associates Can Help

  1. Compliance Management:

    • Tracking deadlines and ensuring timely filing of all MCA returns.

  2. Expert Assistance:

    • Guidance on preparing and filing necessary forms such as MGT-7, AOC-4, DIR-3 KYC, and more.

  3. Penalty Avoidance:

    • Timely reminders and filings to prevent late fees and legal consequences.

  4. Comprehensive Services:

    • Assistance with additional filings such as INC-20A, BEN-2, MSME-1, and LLP-specific compliance.

Contact Us Today

Stay compliant and worry-free with AK Mehta & Associates. Let our experts handle your MCA filings and ensure your business stays on the right side of the law.

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