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Certain documents are mandatory to be filed by a company irrespective of its scale, nature and size with the registrar of the companies annually for the purpose of Annual Compliance. These documents include director's report, annual return filing, financial statement, secretarial audit, etc. The aforesaid documents provide the information about the financial status and health of the company. Failing to produce these documents is considered an offence as per Law.

What does Annual Compliance include?

  • Company's balance sheet
  • Profit and loss account
  • Registered office details
  • Details of Members
  • Details of directors
  • Shares and shareholding details
  • Compliance certificate (if required)

For an LLP annual filing of Form -11, Form 8 with the registrar of LLP and Income tax Return is mandatory where Form 11 is filed to disclose the composition of partnership (LLP) and Form 8 is filed to disclose annual financial report. The last date for filing Form 11 is 30th may, For Filing of ITR the last Date is 31st July in case no audit is required and 30th september when tax audit is applicable. The last date for filing the Form 8 is 30th October. Any late filing shall attract Rs. 100 per day penalty till the time it is not filed.

Every company has to prepare its books of account in compliance of accounting standards issued by the central government. Such books of account must result in four important documents 1. Trial Balance 2. Profit and Loss Account, 3. Cash flow statement 4. Balance Sheet. The books of account along with the above stated documents must be presented to statutory auditor for audit. The statutory auditor shall cause an exhaustive audit and issues an Audit Report in prescribed format and attests the financial statement as audited.

After finalisation of accounts, preparation of final accounts and thereafter upon completion of statutory audit the financial documents are presented to the board of directors. The board of directors then make directors report and call for annual general meeting within the stipulated time frame. Just After the AGM the company has to file the financials in to AOC 4 eform within 30 days of AGM and the annual return of company shall be filed with the registrar of companies within 60 days of AGM. The income tax return needs to be filed before 30th September.

Frequently Asked Questions

Q1. Who is required to sign the Annual Compliance Report (ACR)?

Ans: A Director, Managing Director, Proprietor, Managing Partner, Authorized Signatory, Compliance Officer and Karta needs to sign the Annual Compliance Report.

Q2. Is there any penalty for incorrect reporting in Annual Compliance Report?

Ans: Yes, incorrect reporting in the Annual Compliance Report attracts a penalty of Rs.2500/- per instance. Apart from this, an appropriate disciplinary action including levy of higher charges can also be made for incorrect reporting.