Important Statutory Due dates for Company Annual Filing for FY 2024-25

In India, companies are required to meet various statutory compliance requirements annually to maintain their legal standing and ensure transparency. For the financial year 2024-25, several forms and returns need to be filed within specific deadlines as mandated by the Ministry of Corporate Affairs (MCA) and the Income Tax Department.

Key filings include Form AOC-4, where companies must submit their audited financial statements within 30 days of their Annual General Meeting (AGM), and Form MGT-7, which requires an annual return detailing the company’s structure, shareholders, and governance within 60 days of the AGM. Other important forms like DIR-3 KYC ensure directors update their KYC annually, while Form ADT-1 informs the MCA about the appointment or re-appointment of auditors.

For companies dealing with MSMEs, Form MSME-1 is crucial to report outstanding dues to these suppliers. Additionally, Form DPT-3 reports outstanding loans or deposits, and Form BEN-2 discloses significant beneficial ownership structures.

On the tax front, companies must file their Income Tax Return (ITR) by 31st October (if no audit is needed) or 30th November (if an audit is required). Companies under tax audit must submit their Tax Audit Report by 30th September.

Failure to comply with these deadlines can lead to penalties, disqualification of directors, and other legal consequences, making it essential for companies to manage these dates efficiently. In ths article we described about Statutory Due dates for Company Annual Filing for FY 2024-25.

The statutory due dates for company Annual Filing for FY 2024-25 in India

1. Form AOC-4 (Financial Statements Filing):

• Due Date: Within 30 days from the date of the Annual General Meeting (AGM).
• Purpose: Companies must file their audited financial statements, including the balance sheet, profit and loss account, and other necessary financial data.
• Applicable for: All companies, including small, private limited, and public limited.

2. Form MGT-7 (Annual Return Filing):

• Due Date: Within 60 days from the date of AGM.
• Purpose: Companies must file their annual return detailing the company’s ownership structure, shareholders, directors, and other relevant information.
• Applicable for: All companies.

3. DIR-3 KYC (Director KYC Update):

• Due Date: 30th September every year.
• Purpose: Every director with a DIN (Director Identification Number) must update their KYC details annually.
• Applicable for: All directors in Indian companies.

4. Form ADT-1 (Auditor Appointment):

• Due Date: Within 15 days from the conclusion of AGM.
• Purpose: Companies are required to inform the Ministry of Corporate Affairs (MCA) about the appointment or re-appointment of the auditor.
• Applicable for: All companies.

5. Form MSME-1 (Outstanding Payment to MSME Vendors):

• Due Dates:
  • First half (April to September): By 31st October.
  • Second half (October to March): By 30th April.
• Purpose: To report the outstanding payments to MSME (Micro, Small, and Medium Enterprises) suppliers that are due for more than 45 days.
• Applicable for: Companies with MSME vendors.

6. Form DPT-3 (Return of Deposits):

• Due Date: 30th June every year.
• Purpose: To report loans or deposits that are outstanding as of 31st March.
• Applicable for: Companies that have accepted deposits or loans.

7. Form BEN-2 (Significant Beneficial Ownership):

• Due Date: Within 30 days of the receipt of BEN-1.
• Purpose: To disclose beneficial ownership if a person holds significant ownership rights indirectly in the company.
• Applicable for: Companies with such ownership structures.

8. Income Tax Return Filing (ITR):

• Due Date: 31st October (if tax audit is not required), or 30th November (if tax audit is required).
• Purpose: Filing the company’s income tax return for the financial year.
• Applicable for: All companies.

9. Tax Audit Report (Form 3CA/3CB and 3CD):

• Due Date: 30th September.
• Purpose: To submit the tax audit report under Section 44AB of the Income Tax Act.
• Applicable for: Companies subject to tax audit.

Conclusion:

Compliance with these statutory due dates ensures that companies avoid penalties and maintain good legal standing. Each form has a distinct purpose, contributing to the overall transparency of the company’s financial health and governance. Missing any of these deadlines can result in hefty penalties, disqualification of directors, or other serious legal consequences. Therefore, it’s crucial for businesses to maintain a strict compliance calendar to stay on top of these obligations throughout the year.