Due Dates of ROC Return and Income Tax Return of Companies [FY 2017-18] By Sarah Bhandari



ROC Return Due Date

All Companies registered in India be it Private Limited Company, One Person Company, Limited Company, Nidhi Company, Producer Company, Guarantee Company and even Section 8 companies are under the mandatory provision to file ROC Annual Return Each Year.
 
It is to be noted here that within 15 days of the first AGM, the Auditor has to be reappointed and now it is not required to file ADT-1 every year for ratification.

We know that all companies irrespective of turnover or activity is also required to appoint an Auditor within 30 days of incorporation. But filing ADT-1 for the First Auditor is not required because it falls under section 139(6) of the Companies Act, 2013 whiling filing ADT-1 is applicable to 139(1) of the Companies Act, 2013. Thus, it is clear that filing of ADT-1 for the first auditor appointment is optional.
 
The ROC filing of Annual Accounts is governed under Section 129 (3), 137, of The Companies Act , 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and Annual Return is governed under Section 92 of the Companies Act, 2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.

Read Section 129

Section 129 talks about the financial statement of A Company
  • The financial statements shall give a true and fair view of the state of affairs of the company or companies, comply with the accounting standards notified under section 133 and shall be in the form or forms as may be provided for different class or classes of companies in Schedule III
  • Provided that the items contained in such financial statements shall be in accordance with the accounting standards:
  • Provided further that nothing contained in this sub-section shall apply to any insurance or banking company or any company engaged in the generation or supply of electricity, or to any other class of company for which a form of financial statement has been specified in or under the Act governing such class of company:
Read Section 129(3)

Under Sub Section (3) it is provided that-
  • Where a company has one or more subsidiaries, it shall, in addition to financial statements provided under sub-section (2), prepare a consolidated financial statement of the company and of all the subsidiaries in the same form and manner as that of its own which shall also be laid before the annual general meeting of the company along with the laying of its financial statement under sub-section (2). 
  • Provided that the company shall also attach along with its financial statement, a separate statement containing the salient features of the financial statement of its subsidiary or subsidiaries in such form as may be prescribed.
  • Provided further that the Central Government may provide for the consolidation of accounts of companies in such manner as may be prescribed.
Explanationfor the purposes of this sub-section, the word ? subsidiary shall include an associate company and joint venture also.
 
Read Section 129(2)

Under Sub Section (2) it is provided that-
 
  • At every annual general meeting of a company, the Board of Directors of the company shall lay before such meeting financial statements for the financial year.
Let’s Read Section 96 of Annual General Meeting for more clarity

Every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall Specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next:

Provided that in case of the first annual general meeting, it shall be held within a period of nine months from the date of closing of the first financial year of the company and in any other case, within a period of six months, from the date of closing of the financial year:

Provided further that if a company holds its first annual general meeting as aforesaid, it shall not be necessary for the company to hold an annual general meeting in the year of its incorporation:

Provided also that the Registrar may, for any special reason, extend the time within which any Annual General Meeting, other than the first Annual General Meeting, shall be held, by a period not exceeding three months.

(2) Every Annual General Meeting shall be called during business hours, that is, between9 a.m. and 6 p.m. on any day that is not a National Holiday and shall be held either at the Registered office of the company or at some other place within the city, town or village in which the registered office of the company is situating.

Provided that the Central Government may exempt any company from the provisions of this sub-section subject to such conditions as it may impose.

Explanation—for the purposes of this sub-section, “National Holiday” means and includes a day declared as National Holiday by the Central Government.
 
DUE DATES OF ANNUAL FILINGS FOR (FY 2017-18)

Name of E-form

Purpose of
E-form

Due Date

Due Date for FY 2017-18

Form ADT-1

Appointment of Auditor

15 days from the conclusion of AGM

15th October 2018

Form AOC-4 and Form AOC-4 CFS (in case of Consolidated financial statements)

Annual Accounts Filing

30 days from the conclusion of the AGM (In case of OPC within 180 days from the closure of the financial year)

30th October 2018

Form MGT-7

Annual Return Filing

60 days from the conclusion of AGM

29th November 2018

Form CRA-4

Cost Audit Report Filing

30 days from the receipt of Cost Audit Report

30 days from
the receipt of
Cost Audit
Report

Form MGT-14

Board Report and Annual Accounts Filing

30 days from the date of Board Meeting

30 days from the date of Board Meeting

 
Income Tax Return – 30th September

Companies are also required to file an income tax return every year on or before September 30.
 
DO NOT FORGET TO PAY THE FILING FEES ON OR BEFORE THE EXPIRY DATE OF THE CHALLAN. IF THE CHALLAN EXPIRES, THE FORM FILED SHALL NOT BE CONSIDERED FOR APPROVAL AND THE COMPANY AND IT SHALL BE REQUIRED TO UPLOAD THE EFORM AGAIN.

ALL COMPANIES WHICH ARE REGISTERED IN INDIA ARE REQUIRED TO FILE ANNUAL RETURN AND INCOME TAX RETURN EACH YEAR, NO MATTER WHETHER THEY CARRIED ON ANY BUSINESS ACTIVITY DURING THE FINANCIAL IRRESPECTIVE OF BUSINESS TURNOVER OR ACTIVITY.

PS: If a company is registered between January 1 and March 31, ROC Filings can be skipped but yet again Income Tax Return has to be filed even if the Company received COI from MCA on March 31.
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