BackNo extension of 30 November due date for annual return filing for companies
Statutory filings have stabilized in the MCA21 portal which has been undergoing an overhaul, a person informed about the development said
PremiumNew Delhi: There will not be any extension of the 30 November due date for companies to file annual returns for FY23 as statutory filings have stabilized in the MCA21 portal which has been undergoing an overhaul, a person informed about the development said.
Earlier this year, the government had given extra time for filing over 50 statutory forms without extra fee on account of the IT upgradation of the system. “The MCA21 portal is working smoothly and for filing annual returns, for which 30 November is the end date, there will not be any extension. The due date for filing financial statements for FY23 is over at the end of October," the person said on condition of anonymity.
The due date for filing annual return varies from company to company depending on the date on which annual general meeting is held after the close of the financial year. The maximum time available for holding the AGM is six months after the fiscal year end and companies have two months from then to file annual returns. These filings give a comprehensive picture of the company’s registration and other corporate information about its management, parent company, subsidiary and associates and operational details about business activities.
Mint had reported on 31 August that companies could file their financial statements and annual returns for FY23 in the current filing season without waiting for the new high-security forms the government is rolling out. The shift to the new ‘version three’ forms will be made after the current filing season so that professionals do not face any technical glitch in the October-November period. The shift is meant to make sure corporate disclosures are genuine and are made by the authorized persons. It also enables real-time verification of the information keyed in in the web-based forms.
The ministry has now readied a new facility to be launched in the portal for e-adjudication of cases. Testing of this facility has been done and is ready for the rollout, said a second person, who also spoke on condition of anonymity. An email sent to the spokesperson for the ministry on Monday seeking comments for the story remained unanswered at the time of publishing.
As per information available from the ministry, 1.15 million financial statements and annual returns have been filed by 15 November this year for FY23, compared to 990,000 in the same time a year ago for the FY22 period. There are over 1.5 million active companies in India.
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