In the previous part of this Article, we discussed about different types of organizations. Brief details about sole proprietorship, partnership, LLP and company were mentioned. In this part of the said Article, a brief about yearly and event based compliances to be done by companies is deliberated upon:
- DIR-3 KYC: This is director based, not company based filing. So, if any individual as Director Identification Number (DIN), then he/she has to update his KYC with Ministry of Corporate Affairs annually before 30th September. Post this date, penalty of Rs. 5,000/- is levied.
- Form DPT-3: This form has to be filed only by those companies who have outstanding loan/deposit as on 31st March. The amount of loan taken and outstanding to be paid to different parties such as financial institution, banks, directors, government etc. has to be reported. Its due date is 30th June every year.
- Form MSME-1: This form is also not compulsory for every company. Only those companies who have obtained services or goods from an MSME supplier and have outstanding payment of more than 45 days have to file it. It is half-yearly return and has to be filed by 31st October and 30th April.
- Form ADT-1: Auditor’s information is filed in this form. It includes details of the firm or individual who would do audit for the financial year. Company can appoint same auditor for next 5 years so it can also be filed once in 5 years.
- Form AOC-4: Audited Balance Sheet is filed in this form. The due date is within 30 days of Annual General Meeting (AGM). The last date for holding AGM is 30th September (except in few cases) so generally this form has to be filed before 30th October.
- Form MGT-7: It includes names, number of shareholders and specifics of share transfers held during the year. Its due date is within 60 days of AGM. So, this form is usually filed before 30th November every year.
- Form PAS-6: It is also half-yearly based filing. It has to be done only by public limited company and private limited companies having ISIN number. This means that the company must be registered in any of the depository i.e. NSDL or CDSL.
The above given are yearly compliances to are mandatory to be done from 01st April to 31st March. Apart from those, there are separate e-forms that are filed as and when the event occurs. For example- MGT-14 (Special Resolutions etc.), MGT-6 (registered member details having no beneficial ownership), MGT-15 (Details of Annual General Meeting), INC-22 (for changing registered office), DIR-12 (for change in particulars of directors), INC-24 (for change of name of existing company), SPICE (for incorporation of new company), INC-20A (for Certificate of Commencement of business after incorporation), Form BEN-2 (in case of change in beneficial ownership) and Form SH-7 (for increase in authorized share capital of the company). All the filings for companies are done on the website www.mca.gov.in
