What are the ROC Annual Compliances in India?


A company since its inception becomes subjected to different statutory regulations and ROC Annual Firm Compliances Process Online. A company registered in India needs to comply with all the Online ROC Annual Firm Compliances as per the Companies Act, 2013. With majority of startups getting them registered as companies, to keep up with Online ROC Annual Firm Compliances Process is the most asked issue faced by the companies, the failure to do which results in falling under the scrutiny of the MCA thus, creating numerous hindrances like heavy penalties and in case of repeated violations, reduced chances of business’ survival.
Therefore, it is important to understand the different ROC Annual Compliances Online India of a company in India that must be filed with the ROC.

Online ROC Annual Firm Compliances

The compliances of a company are of two types, mandatory ROC Annual Compliances Online India and ROC event based compliances online India. These must be filed with the registrar of companies in the given format within the appropriate time set by the MCA along with the fees as prescribed by the MCA.

Mandatory Online ROC Annual Firm Compliances

As far as compulsory annual compliances are concerned, there are certain fixed annual ROC returns that must be filed by a company every financial year. Also, the MCA may introduce new mandatory compliances; therefore, the companies should stay up-to-date about the latest notifications for compulsory KYC or other form filings.

The Mandatory ROC Annual Firm Compliances Process Online Includes the Following:

1)         Board Meeting of Directors

It must be held within 30 days of incorporation and each director receives notice of board meeting before 7 days. At least 2 or ⅓ of the total number of directors should be present. After the first meeting, the Board must conduct the same at least 4 times in a financial year having a gap of a maximum of 120 days between the two meetings. Board of directors pass the resolution for Approval of Annual Accounts of Company for the financial year ended.

2)         Notice of Annual General Meeting

Every business is required to hold its Annual General Meeting. For conducting the AGM, a notice under Section 101 of companies is required to be sent to all the members of the company. Generally in AGM, members are approve and adopt the audited financial statements of the company comprising the balance sheet, statement of profit & loss and cash flow statement for the financial year ended along with this, auditor report and board report will also be adopted.

3)         Director’s Report

Every director of the company is required to disclose about his directorship in other companies by giving a declaration in writing to the company in a specified format of board report.

4)         Holding Annual General Meeting

Every company has to hold an AGM of its shareholders during business hours at the company’s registered office or at some other place or city where the registered office placed. The agenda of the meeting includes issues relating to approval of financial statements, appointment of auditors, declaration of dividends, remuneration of directors, and other agenda as mentioned in notice.

5)         Appointment of the Auditor

All companies registered under the Indian Companies Act, 2013 have to conduct its first Annual General Meeting and appoint its auditor by filing form ADT-1 for the same. Time period for appointment is thirty days from the date of incorporation. Also, the company has to appoint an auditor every year but if it wants to continue with the same auditor, it can do so for a maximum of 5 years.

6)         Annual ROC Filings

After AGM, the annual returns must be filed in Form MGT-7 once every financial year disclosing the details of its shareholders, directors, etc. to the ROC within 60 days of holding the AGM and the financial statements in Form AOC-4 is within 30 days of AGM. Other intimation is also required to be filed to SEBI, RBI, and Stock Exchange and other authorities about the AGM if applicable on company.

7)         Maintaining Company’s Registers and Records

Every company must maintain and keep various statutory registers and records such as Register of Directors, Register of Shares, and Minutes of the Board Meetings. These records will be open at its registered office for inspection during business hours. It’s a part of ROC annual compliances online India.

8)         Company’s Tax Compliances

Every company has to file its income tax return on yearly basis. If the annual turnover of a company is above one crore, it has to file its tax audit every financial year.
Location: India

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