Master in Accounts & high court Advocate
9615 Points
Posted on 12 August 2024
Yes, the company needs to file annual returns for FY 2022-23, even if it hasn't filed INC-20A (Declaration of Commencement of Business) till April 24. As per the Companies Act 2013, every company incorporated in India must file annual returns with the Registrar of Companies (ROC) within 60 days of the closure of the financial year (FY). The due date for filing annual returns for FY 2022-23 is October 29, 2023. However, since the company hasn't filed INC-20A, it may face penalties and restrictions. To resolve this: 1. File INC-20A as soon as possible to declare the commencement of business. 2. File the annual returns (AOC-4 and MGT-7) for FY 2022-23 within the due date or seek an extension. 3. Pay any applicable penalties for the delay in filing INC-20A and annual returns. It's recommended to consult a chartered accountant or company secretary to ensure compliance with the Companies Act and avoid any further complications.