Guide to ROC Compliance Due Dates for 2024-25 – Kanakkupillai News

Last Updated on August 14, 2024 by Sachin Jaiswal

Maintaining an excellent reputation and guaranteeing seamless operations in the ever-changing terrain of Indian companies depend on following legal guidelines. Monitoring businesses’ compliance and Limited Liability Partnerships (LLPs) with the terms of the Companies Act, 2013 and other relevant legislation depends mainly on the Registrar of Companies (ROC). Businesses that want to stay out from under fines and legal consequences must understand and follow ROC compliance deadlines.

This blog seeks to provide a thorough reference on ROC compliance due dates for the 2024–25 financial year. By delineating the primary forms, their uses, and the related dates, we want to provide companies with the tools they need to negotiate the compliance landscape properly.

Understanding ROC Compliance

Under India’s Ministry of Corporate Affairs (MCA), the Registrar of Companies (ROC) is a regulatory body. It manages company registration and statutory record maintenance and guarantees the Company Act and associated regulatory compliance. The ROC is vital in advancing openness, responsibility, and good government in the business sector.

Importance of Compliance for Companies and LLPs in India

Compliance with ROC criteria is very vital for various reasons.

• Legal Obligation: Companies and LLPs are legally obliged to submit several forms and returns along with ROC. Ignoring rules could result in fines, penalties, or other legal actions.
• Reputation and Credibility: Early compliance helps a company project more credibility. It shows a dedication to openness and sound government, which would attract consumers, partners, and investors.
• Avoiding Penalties: Non-compliance runs the risk of heavy fines and late fees, among other consequences. Severely bad situations might cause the firm to be struck out from the ROC records.

Consequences of Non-Compliance

Igniting non-compliance with ROC guidelines might have dire consequences. Businesses could deal with:

• Penalties for late entries may quickly build up and affect the company’s financial situation.
• Non-compliance could result in legal action directed against the business and its directors.
• A history of non-compliance may damage a company’s brand and complicate future funding or alliance seeking.

Essential Compliance Forms and Their Purposes

Businesses that want to guarantee timely filings must first understand the primary compliance forms needed by the ROC. The most significant forms are listed here:

• MGT-7: Annual Return

This form provides specifics about the directors, investors, and other important information about the firm. It must be registered sixty days after the Annual General Meeting.

• AOC-4: Financial Statement Filing

AOC-4 form comprises the company’s profit and loss account and balance sheet, along with other financial statements. This form is to be submitted thirty days after the AGM.

• DIR-3 KYC: Directors’ KYC

This form guarantees that the organisation’s directors follow Know Your Customer (KYC) guidelines. It must be turned in yearly.

• DPT-3: Return of Deposits

This form documents all corporate deposits made throughout the financial year. It is to be submitted thirty days following the conclusion of the financial year.

• MSME-1: Reporting Outstanding Payments to MSMEs

Companies reporting any outstanding payments to Micro, Small, and Medium Enterprises must use this form. It has to be submitted two times a year.

• LLP-11: Annual Return for LLPs

Limited Liability Partnerships have to show this form sixty days after the end of the financial year.  This form reports details about partners and the LLP’s activities.

• ADT-1: Auditor Appointment

This form was sent to let the ROC know that auditors have been appointed. It is to be submitted thirty days after the AGM.

• MGT-14: Resolution Filing

Resolutions the firm passes are filed in this form. It is to be turned in 30 days after the resolution passage.

• PAS-6: Reconciliation of Share Capital Audit Report

This form is used to reconcile the Share Capital Audit Report. Companies that have issued securities must submit it twice a year.

ROC Compliance Due Dates for 2024-25

Here is a comprehensive listing of substantial compliance due dates for the financial year 2024–25 to let companies remain orderly:

Companies and LLPs must make sure they note these dates on their calendars and guarantee prompt filings to avoid fines.

Tips for Ensuring Compliance

Making sure ROC due dates are followed calls for organisation and diligence. These excellent practices should help companies keep on target:

• Create a Compliance Calendar: Create a compliance calendar with all critical ROC filing due dates. This will be a visible cue and enable you to remain orderly all year long.
• Assign Responsibilities: Set aside certain people or groups within your company to handle ROC compliance monitoring and management. Clear responsibility will enable you to ensure that deadlines are not missed.
• Utilise Technology: Think about running reminders, tracking deadlines, and creating reports using compliance management tools or software. This can greatly lower the risk of non-compliance.
• Stay Informed: Visit the Ministry of Corporate Affairs (MCA) website routinely for changes in compliance criteria and due dates. Follow pertinent blogs or subscribe to newsletters to stay current on legislative changes.
• Consult Professionals: See a legal or compliance specialist if you are not sure about any compliance rules or need help organising papers. Their knowledge may aid in guaranteeing the correct and timely nature of your files.

Conclusion

Companies and LLPs must follow ROC compliance due dates to maintain good standing and avoid legal and financial consequences. Understanding the main forms, their goals, and the related timeframes helps companies negotiate the compliance terrain. Being proactive with compliance not only helps to avoid fines but also helps to establish a respectable and reliable company. Companies should prioritise ROC compliance as the financial year 2024–25 gets ready to guarantee seamless operations and strengthen good ties with stakeholders.

Related Services

• Annual Compliance for Pvt Ltd Company
• Annual Compliance for LLP