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Compliance norms for companies according to Companies Act 2013

Kirti Dureja 
Updated on 08 October 2020

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This article contains various compliance requirements under Companies Act, 2013 as the Government of India with its reformative outlook has brought major changes, to say the least, by way of amendment rules, notifications and circulars. Step has been initiated to club all the compliances now corporates are required to do in line of the amendments introduced by Ministry of Corporate Affairs.

Besides the brief of compliance(s), the information and documents to be arranged by the corporate are also mentioned for quick and handy reference.

S.No.

Compliance to be done

Applicability

Exemptions, if any

Deadline as on 01.03.2019 (may be change at any later date)

Information/ documents to be arranged

Fees after due date (in INR)

Consequence on non-compliance

  1.  

Form MSME I filing – One Time return

Every Specified company

Other than Specified companies

Within 30 days  of deployment of e-form on MCA

  • Total outstanding amount due (more than 45 days) to MSME as on 22.01.19;

Following is required for each supplier:

  • Financial year of due;
  • Name and PAN of supplier;
  • Amount due to such supplier;
  • Date from which amount is due;
  • Reason of delay to such supplier

Not prescribed

Penalty on Company of maximum INR 25,000/-

Every office in default may be imprisoned for 6 months or fine of minimum INR 25,000/- and maximum INR 3,00,000/- or both.

  1.  

Form MSME -  Half yearly return

Every Specified company

Other than Specified companies

30th April, 2019

  • Outstanding amount due (more than 45 days) to MSME during the period 01.10.2018 - 31.03.2019;

Following is required for each supplier:

  • Financial year of due;
  • Name and PAN of supplier;
  • Amount due to such supplier;
  • Date from which amount is due;
  • Reason of delay to such supplier

Not prescribed

Penalty on Company of maximum INR 25,000/-

Every office in default may be imprisoned for 6 months or fine of minimum INR 25,000/- and maximum INR 3,00,000/- or both.

  1.  

Form DPT-3 filing – One Time

Every company

Government companies

20th April, 2019

  • Details of outstanding receipt of money as on 22.01.2019;
  • Details of outstanding receipt of loan as on 22.01.2019;
  • Certificate of Auditors certifying the amount due and to be mentioned in the form.

On the basis of capital of the company

Penalty on Company and every Officer in default of maximum INR 5000/-

If contravention continues, fine may extend to INR 5000/- for every day after the first day during which contravention continues.

  1.  

Form DPT-3  -Annual Return

Every company

Government companies

30th June, 2019

  • Details of outstanding receipt of money as on 31.03.2019;
  • Details of outstanding receipt of loan as on 31.03.2019;
  • Details of outstanding receipt of amount of Deposits (as defined under Company Law) as on 31.03.2019;
  • Certificate of Auditors certifying the amount due and to be mentioned in the form.

On the basis of capital of the company

Fine on Company and every Officer in default may extend upto INR 5000/-

If contravention continues, fine may extend to INR 5000/- for every day after the first day during which contravention continues.

  1.  

Form ACTIVE / Form INC 22A

Every company incorporated on or before 31.12.2017

  • Companies incorporated on or after 01.01.2018;
  • Struck of companies;
  • Companies under process of striking off;
  • Companies under Amalgamation;
  • Companies under liquidation;
  • Dissolved companies.

25th April, 2019

  • Complete annual filing for the F.Y. 2017-18 (if not done) to file form INC 22A;
  • Appoint KMP (if applicable) and report to Registrar to file form INC 22A;
  • Click photo of the registered office of the company showing external building;
  • Click photo showing inside office of the building with one Director/KMP (who will also sign the e-form INC 22A) sitting there;
  • Email id of the company for OTP;
  • Longitude and Latitude of the registered office address;
  • Details of Statutory Auditors;
  • Details of Cost Auditors; if any;
  • Details of Directors and KMP;
  • SRN of the annual filing forms of F.Y. 2017-18;
  • DSC of one director and one director/KMP along with practicing professional to be affixed.

10,000/-

  • Company to be marked “Active-Non Compliant” on MCA;
  • Following forms won’t be allowed to file:
  • SH-7;
  • PAS-3;
  • DIR-12 (except cessation);
  • INC-22;
  • INC-28 (for amalgamation/demerger)
  1.  

Registration under TReDS of RBI

  • Every company with turnover of INR 500 crore or above;
  • All Central Public Sector Enterprises

Companies with less than 500 crore turnover

Not prescribed

  • As specified in the login creation page

-

Not prescribed

  1.  

Form DIR-3 KYC

Every person who has been allotted DIN as on 31st March, 2019.

-

30th April, 2019

  • Self attested proof of identity;
  • Self attested proof of address;
  • Personal mobile number and email id for OTP;

Note: For Non-resident Indian Directors, passport is mandatory and documents to be notarised/ apostilled/ consulrised for case to case.

5000/-

DIN shall be de-activated post the due date and shall be re-activated after filing form with late fee.

  1.  

Form BEN 2 - One time return

Every Reporting Company on which its rules applies

Companies prescribed under Rule 8 of the Companies (Significant Beneficial Owners) Rules, 2018.

Within 30 days of receipt of declaration in Form BEN-1

(BEN-1 to be received not later than 7th May, 2019)

  • Declaration from significant beneficial owner in Form BEN-1;
  • Proof of significant beneficial ownership in the company along with Form BEN-1.

Not prescribed

Penalty on Company and Officer in default of minimum of INR 10,00,000/- and maximum upto INR 50,00,000/-

 If contravention continues, further fine may extend to INR 1000/- for every day after the first day during which contravention continues.

  1.  

Form BEN 2 Event wise return

Every Reporting Company on which its rules applies

Companies prescribed under Rule 8 of the Companies (Significant Beneficial Owners) Rules, 2018.

Within 30 days of the date of receipt of declaration in Form BEN-1

  • Declaration from significant beneficial owner in form BEN-1;
  • Proof of significant beneficial ownership in the company along with Form BEN-1.

Not prescribed

Same as mentioned above for Form BEN-2 (One time return)

  1.  

Form NFRA-1

Every body corporate on which these rules applies.

Companies in which these rules does not apply

Within 30 days from the date of deployment of form on MCA

  • Details of the statutory auditors of the company and any changes thereof.

Not prescribed

Penalty on Company, Auditor and every Officer in default may extend upto INR 10,000/-

If contravention continues, fine may extend to INR 1000/- for every day after the first day during which contravention continues.

  1.  

Form AOC-4

Every company

-

Within 30 days of the date of Annual General Meeting (AGM)

[AGM shall be held within 6 months, from the date of closure of financial year

Or

Within fifteen months from the date of last AGM held

(whichever is earlier) ]

  • Adopted financial statements along with audit report of the company for the F.Y. 2018-19;
  • Adopted Board report along with annexures of the company for the F.Y. 2018-19.

INR 100/- for each day of delay

Penalty on Company ranging from INR 1000/- for each day of default maximum upto INR 10,00,000/-

Penalty on MD and CFO, if any/Director charged with responsibility, if any/ All the directors of INR 100,000/-

If contravention continues, fine may further extend to INR 100/- for every day after the first day during which contravention continues and maximum upto INR 500,000/-.

  1.  

Form AOC-4 (CFS)

Every company

-

Within 30 days of the date of Annual General Meeting

  • Adopted consolidated financial statements along with audit report of the company for the F.Y. 2018-19;
  • Adopted Board report of the company for the F.Y. 2018-19.

INR 100/- for each day of delay

Same as above mentioned for AOC-4

  1.  

Form AOC-4 (XBRL)

Every company on which the Companies (Filing of documents and forms in XBRL) Rules, 2015 applies

Companies not covered under such rules.

Within 30 days of the date of Annual General Meeting

  • Adopted standalone along with consolidated financial statements, if any in xml format along with audit report of the company for the F.Y. 2018-19 (in xml format);
  • Adopted Board report along with annexures of the company for the F.Y. 2018-19 (in xml format).

INR 100/- for each day of delay

Same as above mentioned for AOC-4

  1.  

Form MGT-7

Every company

-

Within 60 days of the date of Annual General Meeting

  • List of security holders of the company as on 31.03.2019;
  • Details of security transfers during the F.Y. 2018-19.

INR 100/- for each day of delay

Penalty on Company and Officer in default of minimum INR 50,000/-

If contravention continues, fine may further extend to INR 100/- for every day after the first day during which contravention continues and maximum upto INR 500,000/-.

Disclaimer- This simplified note has been prepared by relying upon the provisions of the applicable laws, and our interpretation and understanding thereof. Such laws and interpretation thereof including the determination criteria are subject to change or modification by subsequent decision of competent legislative, regulatory, administrative or judicial bodies, any such change could affect the validity of conclusions contained herein. We expressly disclaim any financial or other responsibility arisen due to any action taken by any person on the basis of this specified note.


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