My company was registered in November 2022. I filed the Declaration for commencement of Business (INC20A) in May 2023. Do I need to file the AOC-4 and MGT7 for the session (2022-2023) since my company started operations in May 2023?
Menu
AOC-4 and MGT7 filing before commencement of Business
Replies (2)
Quick Summary
Yes you can file a nil return but the compliance under the Companies Act needs to be adhered such as Form AOC 4 should be filed within 30 days of the Annual General Meeting and Form MGT-7 should be filed within 60 days of the Annual General Meeting
Yes, filings are due from the first FY:
• Every company must prepare financial statements and file AOC-4 and MGT-7/7A for each FY from incorporation, whether or not business has commenced or INC-20A was filed.
• For a company incorporated in November 2022, the first FY can end on 31 March 2023 (or 31 March 2024 if incorporated after 1 January; since November is before that, the first FY ends 31 March 2023). File AOC-4 (within 30 days of the AGM) and MGT-7A (within 60 days of the AGM). The first AGM is due within 9 months of the end of the first FY (by 31 December 2023).
• Nil or pre-operative accounts are still needed, with audit by the first auditor (appointed within 30 days of incorporation; ADT-1 now mandatory).
• Late filing: Rs 100 per day additional fee per form (no cap).
Recent Topics :
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
Related Topics :
CAclubindia
