Company annual filing refers to the filing of audited annual financial statements, directors’ reports, and an annual return of the company with the Registrar of Companies (ROC). This is a mandatory requirement for all companies registered in India, regardless of their size or business activity.
The annual filing must be submitted within 60 days of the company’s annual general meeting (AGM). The AGM is a meeting of all the shareholders of the company, where they discuss and approve the company’s financial statements and other important matters.
The annual filing must include the following documents:
- Balance sheet
- Profit and loss account
- Cash flow statement
- Directors’ report
- Auditor’s report
- Annual return
The balance sheet is a statement of the company’s assets and liabilities at a particular point in time. The profit and loss account is a statement of the company’s income and expenses for a particular period of time. The cash flow statement is a statement of the company’s inflows and outflows of cash for a particular period of time. The directors’ report is a statement by the directors of the company, providing information about the company’s activities and financial performance during the year. The auditor’s report is a statement by the auditor, expressing their opinion on the company’s financial statements. The annual return is a form that provides information about the company’s shareholders, directors, and other key details.
The annual filing is an important compliance requirement for companies in India. It helps to ensure that the company is transparent about its financial performance and activities. It also helps to protect the interests of the company’s shareholders and creditors.
If a company fails to file its annual filing on time, it may be subject to penalties by the ROC. The penalties may include fines, suspension of the company’s operations, or even dissolution of the company.
Here are some of the benefits of filing annual returns for companies:
- It helps to maintain transparency and accountability of the company.
- It helps to protect the interests of the shareholders and creditors of the company.
- It helps to comply with the legal requirements of the Companies Act.
- It helps to improve the company’s credit rating.
- It helps to attract investors and partners.
The annual filing deadline for companies in India for the financial year 2023 is 30th September 2023
This means that all companies in India must file their annual returns, financial statements, board of directors’ report, and auditors’ report with the Registrar of Companies (ROC) by this date. The annual filing deadline is important because it helps the ROC to keep track of the activities of companies in India. The ROC uses the information filed by companies to ensure that they are complying with the law and to detect any potential problems. If a company fails to file its annual returns by the deadline, it may be subject to penalties.