ROC Filing and ROC Compliance

What Is the Full Form of ROC?

ROC full form stands for “Registrar of Companies”. The ROC (Registrar of Companies) is established under the Ministry of Corporate Affairs (MCA) and is responsible for maintaining the database of all registered companies in India. It is essentially the regulatory body overseeing the functioning of companies in India.

What Is ROC Filing Compliance?

The annual ROC compliances are detailed reporting of the business procedures that every registered company/LLP in India should submit within the due date prescribed in the Companies Act, 2013 and Companies Rules. The companies/LLP must file the ROC forms with ROC without fail, or else they will have to pay a penalty

Annual Filings: Submission of financial statements, annual returns, and other relevant documents.

Annual Return Draft: Preparation and filing of the annual return, detailing the company’s financial and operational activities.

Director Disclosures: Disclosure of interests and declarations by directors.

Statutory Register Updates: Maintaining and updating statutory registers as required by law.

ROC Filing Package Pricing

​For Nil Transactions & No turnover – Rs. 10,000/-
For Transactions (like Expenses) But No turnover – Rs. 13,000/-
For Turnover Upto the Limit of Rs. 10 lacs – Rs. 17,000/-

  • Package Includes –
    1.  Preparation of your Company Financial Statements.
    2.  Preparation of your Company All the Reports.
    3.  Appointment of the Auditor.
    4.  Certification from the Auditor.
    5.  Filings with the Registrar of Companies.
    6.  Prepare your Company Income Tax Returns & Filings.

Why is ROC Filing Important for Your Business?

  • Compliance: The ROC ensures all the regulatory compliances of the company. It protects the company from reputational damage. 
  • Maintain Transparency: It provides important information about the company’s operations and management to the stakeholders.
  • Increases Credibility: Timely ROC filings represent a company’s authenticity. It also enhances their reputation in the business dimension.
  • Investor Confidence: ROC filing guides investors to make informed decisions about investing in any company. It helps them to measure risks and rewards.
  • Penalty avoidance: Non-compliance leads to heavy fines and penalties. But filing protects any legal actions against the company. 

Annual Compliance Filing: A Complete Guide for Companies

Annual compliance filing is a mandatory requirement for all companies registered under The Companies Act, 2013 in India. These filings ensure that companies maintain transparency, adhere to legal standards, and avoid penalties. Skipping annual compliance filings is not an option, as they are crucial for maintaining the company’s legal standing and reputation.

In this guide, we’ll cover everything you need to know about Annual Compliance Filing, ROC Filing Forms, Due Dates, Procedures, and Penalties.

What is Annual Compliance Filing?

Annual compliance filing involves submitting specific forms and documents to the Registrar of Companies (ROC) on a yearly basis. These filings include financial records, annual returns, and other statutory documents. Proper maintenance of financial records is essential to ensure accurate filings. Missing deadlines can result in hefty fines, so it’s crucial to file on time.

Large companies often hire auditors to handle their annual filings, while smaller companies may seek professional advice to ensure compliance. Accurate accounting and timely submissions are key to avoiding legal issues.

What are ROC Filing Forms?

The ROC requires companies to file various forms annually. Below are the key ROC Annual Filing Forms:

  • (1) Form 23AC (Balance Sheet) & Form 23ACA (Profit & Loss Account)
    These forms must be filed within 30 days of the Annual General Meeting (AGM).

    If the AGM is not held, the forms must be e-filed within 30 days from the last date the AGM should have been held.

    A statement explaining the delay must also be submitted.

  • (2) Form 20B or Form 21A (Annual Returns)
    Annual returns must be filed electronically within 60 days of the AGM.

    If the AGM is not held, the return must be filed within 60 days from the date the AGM should have been held.

    The form must be digitally signed by a director and, in some cases, by a practicing Company Secretary.

  • (3) Form 66 (Compliance Certificate)
    Companies with a paid-up share capital between Rs. 10 lakhs and Rs. 50 crores must file this form.

    It must be submitted within 30 days of the AGM, along with the Annual Report.

    If the AGM is not held, the form must be filed within 30 days from the last date the AGM should have been held.

What is Annual Return Filing of a Company ?

All registered companies in India must prepare and file an annual return in Form MGT 7 with the ROC within 60 days of the AGM. The return must be digitally signed by a director and a Chartered Accountant auditing the company. For listed companies or those with a paid-up share capital of Rs. 10 crores or more, the return must also be certified by a Company Secretary using Form MGT 8.

What is the ROC Filing Due Date ?

The ROC Filing Due Date for all companies is 30th October each year. Filing before this deadline is crucial to avoid penalties.

ROC Filing Procedure
Here’s a step-by-step guide to the ROC Filing Procedure:

  • (1) Maintaining Book of Accounts
    Companies must maintain accurate books of accounts as per the prescribed format under the Companies Act, 2013.

    Proper accounting ensures compliance and helps directors monitor the company’s financial health.

  • (2) Preparing Financial Statements
    Financial statements, including the balance sheet and profit & loss account, must be prepared based on the books of accounts.
  • (3) Appointing an Auditor
    Companies must appoint an auditor within 30 days of registration.

    The auditor must be an independent Chartered Accountant or a firm of Chartered Accountants.

  • (4) Statutory Audit of Financial Statements
    The appointed auditor audits the financial statements and submits a report to the shareholders.

    The auditor’s report ensures the financial statements provide a true and fair view of the company’s position.

  • (5) Conducting Annual General Meeting (AGM)
    Every company (except One Person Companies) must hold an AGM within 6 months of the financial year-end.

    The AGM is where shareholders approve the audited financial statements.

  • (6) Annual Filing with ROC
    After the AGM, the audited financial statements and annual returns must be filed with the ROC within 60 days.

How to Get Annual Filing Done?

To simplify the process, you can:

Visit our website and fill out a simple registration form.

Our executive will contact you to collect the required documents and information.

Submit the details via email, and we’ll handle the rest.

Who is Responsible for Filing ROC Returns?

The directors of the company are responsible for ensuring that ROC returns are filed on time.

What are ROC Return Filing Fees and Costs?
Government Fees: Rs. 200

Professional Fees: Varies depending on the CA, CS, or ICWA firm you hire.

What is the Penalty for Late Filing of ROC Returns?

Late filing attracts an additional fee of Rs. 100 per day until the returns are submitted.

Conclusion
Annual compliance filing is a critical aspect of running a company in India. By adhering to the deadlines and ensuring accurate submissions, companies can avoid penalties and maintain their legal standing. For professional assistance with ROC filings, visit our website and let our experts handle the process for you.

Stay compliant, avoid penalties, and ensure smooth business operations!