OPC Annual Filing

Every OPC has a legal obligation to file an annual return in form MGT-7 and financial statements in form AOC-4 every year with registrar which exhibits the true and important information of the company.

Every OPC registered in India with the MCA (Ministry of Corporate Affairs) as per the provisions of the Companies Act, 2013 are under an obligation to file the financial statements (except cash flow statement) and annual return. A company must file the annual return every year irrespective of the fact that company is doing any business or not.

As a part of compliances, companies incorporated under the Companies Act, 2013 are required to file the following e-forms with the ROC(Registrar of Companies):

Form Particulars
AOC-4 Filing of financial statement
MGT-7 Annual Return

OPCs give prominence to the sole ownership, so it’s the sole responsibility of the owner cum director to maintain the accounts and filing the annual e-forms within the prescribed time and fees.

Annual filing forms in XBRL

These annual forms are also available in the XBRL form on the MCA portal. Certain classes of companies are required to file its annual accounts in XBRL form:

  • Companies listed on the stock exchange and their subsidiaries in India
  • Companies whose paid up share capital is rupees five crores or more
  • Companies whose turnover is rupees one hundred crores or more
  • Companies covered under the Companies Rules, 2011

Related: Due Dates of OPC Annual Filing

Need of annual filing

  • Financial section of the annual report shows you how well the company is doing.
  • To know that company making the profits or not, assets are higher than the previous year.
  • To get an idea about the strategic plan of the management which figuring out the future of the company.

Late filing or non-filing of the annual forms draws the high penalty which will get higher with the increasing delayed period.

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