Following formation, the firm must comply with certain requirements of the firm Act, including submitting INC-20A and appointing the first auditor, among others.

Initial Company Secretarial Activities

The issuance of the certificate of incorporation marks the start of your startup’s corporate journey. A company must complete some initial compliances by a company secretary, which are required and time-bound, because a company is a well-regulated commercial entity that is governed by the rules of the Companies Act, 2013.

INC-20A Filing with ROC (Commencement Declaration)

A company, after its incorporation, has to file a declaration to the ROC in form INC-20A that it has collected the capital and maintains a Registered Address. We complete the filing within the same day.

Legal Provisions to File Form INC-20A

It should be noted that neither a Private Limited Company nor a One Person Company can start their business without filing the INC-20A, or Commencement of Business declaration, to the Registrar of Companies. This declaration is a required post-incorporation ROC filing that Private Limited and One Person Companies must make as soon as they start their business activities. It gives the company the right to conduct business transactions and borrow money from financial institutions for the purpose of managing their business operations.

until 2nd November, 2018, there was no requirement for filing INC-20A to the ROC. However, a notification by the MCA dated 2nd November, 2018, made the declaration mandatory for Private Limited Companies and OPC as a declaration of the Commencement of their business operations. The declaration is to be filed and signed by a director authorized by the company for the purpose, and must be submitted within 180 days or 6 months from the date on which the Certificate of Incorporation was issued to the company.

Prerequisites to File Commencement of Business Declaration or INC-20A

Two main compliances need to be made before submitting the INC-20A, or Commencement of Declaration Form. First, the firm must have submitted its registered office information either at the time of establishment or within 30 days of that date. Second, that all of the subscribed capital, as specified in the company’s memorandum of association, has been placed into the bank account prior to, during, or within sixty days following the incorporation of the business. Now that we know about the two compliances, let’s review all the requirements before submitting the declaration of business commencement.

• Registered business address has been intimidated to the ROC
• A bank account has been opened in the name of the company
• The entire amount of subscribed capital has been deposited by the shareholders
• The company has not yet begun business activities
• Company’s bank statement does not contain any transaction except the ones related to its capital

Auditor Appointment

The company laws stipulate the appointment of the first auditor within 30 days of company incorporation and thereafter in the AGM. We assist organizations in locating a suitable auditor and conduct necessary ROC filing in ADT-1 Form.

Form ADT-1 (Intimation of Auditor Appointment)

The purpose of the annual general meetings is to approve financial statements, declare dividends, appoint directors, and discuss the appointment or reappointment of auditors. The ROC must be notified via Form ADT-1 of any appointments or modifications to the company’s statutory auditor. You have to submit form ADT-1 to the ROC within 15 days of the AGM’s conclusion. It can be filed for an extra cost if it is delayed.

ROC Annual Filing

All Companies incorporated in India, irrespective of their type and business size, must file annual returns to the ROC within the prescribed due date. The due date to file the annual compliance in forms AOC-4, MGT-7 & ADT-1 is determined based on the Annual General Meeting (AGM) date. For OPC, the due date is fixed and does not depend on the AGM. Filing annual compliance returns is mandatory and must be completed within the prescribed due dates. Non-filing or belated filing attracts a late filing fee and penalty.

Annual Return Filings

1. Director KYC
   1. Filing of AOC-4
   1. Company ITR
   1. Filing of ADT-1
   1. Filing of MGT-7/7A

Director DIN KYC Filing (Last Date: 30 September)

For Company Directors or Designated Partners of LLP who were assigned the Director Identification Number (DIN) on or before March 31st, 2024, we provide assistance in submitting the Director’s KYC to the ROC using the DIR-3 (KYC) Form, which is a required yearly compliance.

Filing of Director DIN KYC

Mandatory annual filing of DIN KYC before 30th September, by every company director or the designated partner of LLP in India.

Important Points:

• Annual Filing of DIN KYC
• Avail Free Consultation
• Mandatory Compliance
• 100% Online Process
• For every person having DIN
• Last Date: 30 Sept 2024

Why is Director KYC required?

Every individual who has been assigned a Director Identification Number (DIN) is required to submit an annual KYC to the MCA by September 30th in order to maintain complete and accurate contact information, including the director’s address, email, and mobile number. DIN would be deactivated for non-filing.

Who needs to file the Director KYC

It is mandatory for every person who has been allotted a Director Identification Number (DIN) on or before the end of the last financial year, i.e. 31st March, to file the KYC of the director in the prescribed format called the DIR-3 (KYC) Form to the Registrar of Companies (ROC). This means every person with a DIN issued on or before 31st March 2024 is required to file the Form DIN KYC starting 1st April 2024 and must file their KYC before 30th September 2024

• DIN Number is allotted on or before 31 March
• MCA Website Link to know DIN Details
• Recommended even if resigned as director
• DIN can be surrendered if not used before

Documents Needed for Director KYC Filing

1. Photograph– Photograph The front-facing latest passport-size colour photograph of the director of Partner of LLP is in JPEG format.
2. Address Proof– Passport, Voter Card, Driving License, Electricity Bill, Telephone Bill or Aadhaar (Not Older Than 2 Month)
3. Pan Card– PAN is mandatory for Indian Citizens; Please submit a copy of your PAN card. Ensure that the particulars are updated.
4. Mobile Number for OTP– A mobile number is required for OTP verification. Foreign citizens must provide their overseas mobile number.
5. Passport– Passports are mandatory for foreign citizens; however, if the Indian applicant has a passport, then it is mandatory to file.
6. Email ID for OTP– Furnish your email ID so the Registrar of Companies/Government can send communication and OTP for verification.

ROC Form AOC-4 Mandatory Annual Filing

Within 30 days following the end of the annual general meeting, when the firm presents its financial statements and Director Report to the ROC, the AOC-4 form must be filed. The AOC-4 Form can be filed with the assistance of Consult Value.

Form AOC-4 Filing under The Companies Act, 2013

Any company’s financial statement, which represents the truthful and fair financial account of the business, is the most crucial document from the standpoint of compliance. The company’s stakeholders rely on the audited financial statement. The financial operations are recorded in financial statements, just as the corporations document all other operations. Therefore, the most important section of a registered company’s annual report is its financial accounts. The financial statement is an official document that formally records the company’s financial situation and financial operations. An overview of the company’s financial situation during a fiscal year is provided by these financial statements, which are submitted on the AOC-4 Form.

Due Date of Filing Form AOC-4

Within 30 days following the conclusion of the AGM, the adopted financial statements are submitted in the required AOC-4 form. The process and any additional fees related to the AOC-4 form are outlined in Section 403 of the Companies Act of 2013. As a result, there is no set date for submitting the AOC-4 form; rather, it is any day that falls on the 30th day following the AGM. The deadline is always determined by the date of the AGM.

ROC Form MGT-7 Company Annual Return

Within 60 days following the completion of the annual general meeting (AGM), companies that are incorporated in India are required to submit their annual return to the Registrar of Companies (ROC) using the required form MGT-7. We assist with document preparation and consulting for the company’s MGT-7 Form (Annual Return) filing.

Due Date of Filing of Company Annual Return (MGT-7)

The MGT-7 form can be filed at any time. Rather, the Companies Act mandates that the annual return be filed within sixty days following the annual general meeting’s conclusion. As a result, the deadline depends on when the business has its annual general meeting. Companies may have varying deadlines for convening their AGMs depending on when they were incorporated. The MGT-7 filing deadlines are displayed in the table below.

Applicability of MGT-7 or MGT-7A

The MGT-7 form is the required format for filing a company’s annual return with the Registrar of Companies (ROC). Prior to 2021, there was just one standard Form MGT-7 that required businesses to provide full disclosure. However, by the Companies (Management and Administration) Amendment Rules, 2021, the Indian Ministry of Corporate Affairs (MCA) issued a streamlined Form MGT-7A for OPC and small businesses.