Who Are Liable to File ROC Annual Returns in India 2023?


Who Are Liable to File ROC Annual Returns in India 2023?

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All business structures registered in India – Private Limited Companies, Public Limited Companies, One Person Companies (OPCs), and Limited Liability Partnerships are required to submit certain documents to the Registrar of Companies on an annual basis. This process, known as ROC compliance, ensures legal compliance and transparency for businesses. It also enables businesses to obtain access to loans and funding, build credibility, and foster growth and expansion.

The ROC Annual filing process entails the preparation of financial statements, balance sheets, profit and loss accounts, compliance records, and other essential documentation. This information is then uploaded to the MCA (Ministry of Corporate Affairs) portal.

 In addition, a company must fill out specific forms designated by the Registrar of Companies and pay applicable filing fees. Finally, the submitted documents are verified and certified by a practising professional – typically a Chartered Accountant or Company Secretary – before being submitted to ROC.

Managing the complexities of ROC filing and compliance can be difficult for businesses, especially as due dates come and go throughout the year. Moreover, internal mismanagement and lack of awareness can cause a business to miss deadlines or provide incorrect information, which can lead to significant fines and penalties. By enlisting the help of an expert, businesses can ensure that their ROC filings are completed accurately and on time.

 


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