MGT 7 is a form that is required to be filed with the Ministry of Corporate Affairs (MCA) in India. It is a form for filing annual return by a company, it contains details of the company's shareholders and directors, and information on the company's financial performance.
Who is eligible to file MGT 7 Form?
MGT 7 Form is required to be filed by companies incorporated in India. It is an annual return that must be filed with the Ministry of Corporate Affairs (MCA) by all companies, including private limited companies, public limited companies, and One Person Companies (OPCs).
Document required to be enclosed to MGT 7 Form
The following documents are typically required to be enclosed with the MGT 7 Form:
- Audited financial statements for the financial year, including the balance sheet and profit and loss statement.
- Board resolution approving the financial statements.
- A copy of the annual return in Form MGT-8.
- A list of shareholders, including their names, addresses, and number of shares held.
- A list of directors, including their names, addresses, and the number of shares held by them.
- A copy of the certificate of incorporation and PAN card of the company.
- Any other documents that may be required by the MCA or the Registrar of Companies.
Fees for MGT 7 Form
The fees for MGT 7 Form are as follows:
- For companies with authorized capital of upto Rs. 100000 - Rs 200 per document
- For companies with authorized capital of Rs 1,00,000 to 4,99,999 - Rs 300 per document
- For companies with authorized capital of Rs 5,00,000 to 24,99,999- Rs 400 per document
- For companies with authorized capital of Rs 25,00,000 to 99,99,999 - Rs 500 per document
- For companies with authorized capital of more than 1 crore - Rs 600 per document
Due dates to file the return
The form must be filed within 60 days of the company's annual general meeting. The last date for conducting the annual general meeting is on or before the 30th day of September after the closing of every financial year.
Penalties for non-filing of MGT 7 Form
Non-filing of the MGT-7 Form with the Ministry of Corporate Affairs (MCA) can result in penalties and fines for the company and its directors. The MGT 7 late filing fees are INR 100 per day. Also, additional fees shall be applicable for delays in filing of annual returns under the Companies Act, 2013 which includes :
- Up to 30 Days - 2 times of normal fees
- More than 30 days and up to 60 days - 4 times of normal fees
- More than 60 days and up to 90 days - 6 times of normal fees
- More than 90 days up to 180 days - 10 times of normal fees
- More than 180 days - 12 times of normal fees
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