{"id":1656,"date":"2019-12-16T05:47:05","date_gmt":"2019-12-16T05:47:05","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=1656"},"modified":"2023-04-05T11:40:56","modified_gmt":"2023-04-05T06:10:56","slug":"form-mgt-7-purpose-and-who-can-use-it","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/","title":{"rendered":"Form MGT 7: What is It, Purpose and who can use it?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">MGT 7 is an\nelectronic form used to file the particulars of the annual returns by companies\nin India. The form can be downloaded easily from the MCA portal and then filled\nand uploaded back on the portal itself. However, every company needs to get it\nsigned by a professional. This blog contains all the facts and details you need\nto know about form MGT-7.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#What_is_Form_MGT_7\" >What is Form MGT 7?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Who_needs_to_file_form_MGT_7_Eligibility_criteria_for_filing_the_form\" >Who needs to file form MGT 7: Eligibility criteria for\nfiling the form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Purpose_of_filing_form_MGT_7\" >Purpose of filing form MGT 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Due_date_to_file_form_MGT_7\" >Due date to file form MGT 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Format_of_Form_MGT_7\" >Format of Form MGT 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Documents_required_for_filing_form_MGT_7\" >Documents required for filing form MGT 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Details_and_other_information_to_be_furnished_in_the_form\" >Details and other information to be furnished in the form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Steps_to_file_form_MGT-7\" >Steps to file form MGT-7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Penalties_of_not_filing_MGT_7\" >Penalties\nof not filing MGT 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/corpbiz.io\/learning\/form-mgt-7-purpose-and-who-can-use-it\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Form_MGT_7\"><\/span>What is Form MGT 7?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It&#8217;s an electronic form provided by the Ministry of Corporate Affairs (MCA) for companies to furnish the annual return. The <a href=\"https:\/\/corpbiz.io\/form-mgt-7\"><strong>MGT-7 form<\/strong><\/a> is maintained by the Registrar of Companies (RoC) electronically and is evaluated on the basis of the correctness of the information provided by the companies.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_needs_to_file_form_MGT_7_Eligibility_criteria_for_filing_the_form\"><\/span>Who needs to file form MGT 7: Eligibility criteria for\nfiling the form<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>All\ncompanies, whether they are a private or public company which is registered in\nIndia, needs to file an annual return in the MGT-7 e-form, every year.<\/p>\n\n\n\n<p><strong><em>The examples of companies eligible to file e-form MGT-7 to name a few\nare as follows;<\/em><\/strong><\/p>\n\n\n\n<ol><li><a href=\"https:\/\/corpbiz.io\/company-registration\"><strong>Private limited company<\/strong><\/a><\/li><li><a href=\"https:\/\/corpbiz.io\/public-limited-company-registration\"><strong>Public limited company<\/strong><\/a><\/li><li><a href=\"https:\/\/corpbiz.io\/one-person-company\"><strong>One person company<\/strong><\/a><\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Purpose_of_filing_form_MGT_7\"><\/span>Purpose of filing form MGT 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Every company\nneeds to prepare the annual return in form MGT-7&nbsp;<strong>within 60 days of\nAnnual General Meeting<\/strong>&nbsp;<strong>(AGM)<\/strong>.<\/p>\n\n\n\n<p><strong><em>Furthermore, these details include all the details regarding:<\/em><\/strong><\/p>\n\n\n\n<ul><li>The address of the registered office<\/li><li>The primary business activities, and the particulars of its holding, associate and subsidiary companies<\/li><li>The debentures, shares, other securities and shareholding pattern of the organization<\/li><li>Details of the indebtedness of the company;<\/li><li>The particulars of the members and debenture-holders along with the change related to them since the conclusion of the previous financial year<\/li><li>Also, the particulars regarding the promoters, directors, key managerial personnel along with alterations connected to them since the closure of the previous financial year<\/li><li>The information regarding the Meetings of the members or a class thereof, the Board and its different committees along with the attendance details<\/li><li>The remuneration of directors and key managerial personnel<\/li><li>The particulars of the penalty or punishment if any forced upon the company, its directors or officers and information of compounding of offences and appeals made against such penalty or punishment<\/li><li>The affairs relating to certification of compliances and &nbsp;disclosures as may be prescribed;<\/li><li>The pattern of the shareholding&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Due_date_to_file_form_MGT_7\"><\/span>Due date to file form MGT 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The form\nMGT-7 needs to be filed within 60 days after the Annual General Meeting of such\ncompany has been conducted. This form needs to be filed each year by every\ncompany registered in India.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Format_of_Form_MGT_7\"><\/span>Format of Form MGT 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The format of\nthe&nbsp;<strong>E-form MGT-7&nbsp;<\/strong>can be downloaded from the MCA portal under\nthe&nbsp;<strong>\u201cAnnual filing e-form\u201d<\/strong>&nbsp;category.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_filing_form_MGT_7\"><\/span>Documents required for filing form MGT 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The documents required to file the form MGT-7 are as follows;<\/em><\/strong><\/p>\n\n\n\n<ul><li>A-List of debenture holders and shareholders is necessary for the circumstance of a company having share capital.<\/li><li>The Permission letter for the extension of the AGM. This is compulsory in case the due date for holding the AGM was stretched due to any reason<\/li><li>Additional attachments as required<\/li><\/ul>\n\n\n\n<p><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/procedure-for-registration-of-private-limited-company-india\/\">Private Limited Company Registration Procedure in India<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Details_and_other_information_to_be_furnished_in_the_form\"><\/span>Details and other information to be furnished in the form<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>In Form MGT-7, a company have to provide the following details related\nto the fiscal year for which the form is being filed;<\/em><\/strong><\/p>\n\n\n\n<ul><li>Proof of Registered office<\/li><li>Major business activities and&nbsp;particulars of its holding.<\/li><li>It\u2019s Subsidiary and associated companies<\/li><li>The pattern of debentures, shares, other securities and shareholding.<\/li><li>Details of the Indebtedness<\/li><li>Members and debenture-holders and details on the change of such members<\/li><li>The pattern of the shareholding of the company.<\/li><li>Pointers describing the certification of agreements, declarations as directed, etc<\/li><li>Detail of any punishment or penalty enforced on the directors or officers of the company.<\/li><li>Also, the details of compounding of offences and claims addressed on the punishment.<\/li><li>The compensation of directors and essential managerial personnel<\/li><li>Information about the meeting of the Board members and other committees with the details of the attendance.<\/li><li>Promoters, Directors, Key managerial personnel with the changes internally since the end of the past fiscal year<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steps_to_file_form_MGT-7\"><\/span>Steps to file form MGT-7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Step 1: Download\nform<\/strong><\/p>\n\n\n\n<p>Go to the official site of&nbsp;<strong><em>MCA<\/em><\/strong><sup><a rel=\"noreferrer noopener\" href=\"http:\/\/www.mca.gov.in\/\" target=\"_blank\"><em>[1]<\/em><\/a><\/sup>and download the form under the&nbsp;<strong>\u201cAnnual filing e-form\u201d&nbsp;<\/strong>category.<\/p>\n\n\n\n<p><strong>Step 2: Fill\nthe form<\/strong><\/p>\n\n\n\n<p>Then you have\nto fill the given form. Start by filling the CIN of the company, and then\nprovide other details such as the category of the company, sub-category of the\ncompany, AGM details, etc.<\/p>\n\n\n\n<p><strong>Step 3:\nPre-scrutiny and signing the form<\/strong><\/p>\n\n\n\n<p>Furthermore,\ncomplete the details of the people engaged in filling the form. Fill the form\ncompletely. Upon the showcase of the&nbsp;<strong>\u201cno error\u201d&nbsp;<\/strong>message, you\nneed to sign it digitally.<\/p>\n\n\n\n<p><strong>Step 4:\nUpload the form and pay fees<\/strong><\/p>\n\n\n\n<p>Finally, you\nhave to upload the form and make the payment. An&nbsp;<strong>SRN<\/strong>&nbsp;will be\ngenerated that you can keep for future references.<\/p>\n\n\n\n<p><strong>The Signing of the MGT-7 form in case of\nother than Small Company<\/strong><\/p>\n\n\n\n<p>MGT-7 e-form\nneeds to be signed by a Company Secretary in practice in case of other than\nsmall company.<\/p>\n\n\n\n<p><strong>Fees<\/strong> Given below is the fee structure for filing form MGT-7; <\/p>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Sr. no.<\/strong>\n  <\/td><td>\n  <strong>Nominal Share Capital<\/strong>\n  <\/td><td>\n  <strong>Fees<\/strong>\n  <\/td><\/tr><tr><td>\n  1\n  <\/td><td>\n  Less\n  than 1, 00, 000\n  <\/td><td>\n  Rs.\n  200\n  <\/td><\/tr><tr><td>\n  2\n  <\/td><td>\n  1,\n  00, 000- 4, 99, 999\n  <\/td><td>\n  Rs.300\n  <\/td><\/tr><tr><td>\n  3\n  <\/td><td>\n  50,00,000-\n  24,99,999\n  <\/td><td>\n  Rs.400\n  <\/td><\/tr><tr><td>\n  4\n  <\/td><td>\n  25,00,000-\n  99,99,999\n  <\/td><td>\n  Rs.500\n  <\/td><\/tr><tr><td>\n  5\n  <\/td><td>\n  1,00,00,000\n  and above\n  <\/td><td>\n  Rs.600\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Penalties_of_not_filing_MGT_7\"><\/span>Penalties\nof not filing MGT 7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>a) Late filing \u2013 the \u201cpenalty\u201d for late\nfiling is Rs 100 each day as upto maximum Rs 5 Lakh and the company and the officers\nin default shall be liable to give the penalty of Rs 50000.<\/p>\n\n\n\n<p>(b) Non-filing \u2013 On non filing for a continuous\ntime period of three financial years it will lead to disqualification of the Directors.<\/p>\n\n\n\n<p>Moreover, after the amendment to Company\u2019s\nAct 2019, the delay in filing the annual return shall amount to adjudication by\nthe Registrar of the Company after issuing of the Show Cause Notice.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MGT 7 is the\nannual return that needs to be filed by every type of company registered in\nIndia. Corpbiz helps you in the quick and easy file of MGT 7 form and save you\nfrom government hassle and a late penalty. We are a leading company, having\nexpertise in company registration,&nbsp;<a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>GST\nRegistration<\/strong><\/a>, One Person\nCompany Registration and much more. Contact us if you want to launch your new\nbusiness or if you are looking for compliance services after incorporation.<\/p>\n\n\n\n<p><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/new-gst-registration-in-just-few-steps\/\"> Get Your New GST Registration in Just One Step<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGT 7 is an electronic form used to file the particulars of the annual returns by companies in India. The form can be downloaded easily from the MCA portal and then filled and uploaded back on the portal itself. However, every company needs to get it signed by a professional. This blog contains all the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1657,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[234],"acf":{"service_id":"220"},"authorName":"Savvy Midha","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2019\/10\/Savvy-Midha.jpg","authorDescription":"Savvy Midha holds the degrees of Bachelor of Commerce(honors), LL.B and Company Secretary. She is an experienced Legal and Financial writer with expertise in research, drafting, and copy-writing.","postViews":8545,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/1656"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=1656"}],"version-history":[{"count":15,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/1656\/revisions"}],"predecessor-version":[{"id":54430,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/1656\/revisions\/54430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/1657"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=1656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=1656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=1656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}