{"id":51266,"date":"2022-12-13T15:17:32","date_gmt":"2022-12-13T09:47:32","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=51266"},"modified":"2022-12-13T15:38:25","modified_gmt":"2022-12-13T10:08:25","slug":"roc-annual-filing-for-section-8-company","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/roc-annual-filing-for-section-8-company\/","title":{"rendered":"ROC Annual Filing for Section 8 Company"},"content":{"rendered":"\n<p>When we talk about companies, they are\ntypically run to make a profit; however, since Section 8companies are non-profit organisations, they usually work for the\nbenefit of society&#8217;s citizens. The goal behind the incorporation of such\ncompanies is to promote trade, commerce, charity, education, research in\nsports, religion, social welfare and environmental protection awareness.\nTherefore, all businesses established under the Companies Act must file ROCs\nwith the Ministry of Corporate Affairs (MCA), which calls for the submission of\nannual reports and audited financial statements. Since Section 8 Companies are\ncreated under the Companies Act 2013, they must comply with all annual\ncompliance like any other company. So what are these compliance? Let&#8217;s see. We\nwill discuss more about ROC Annual Filing for Section 8 Company.<\/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\/roc-annual-filing-for-section-8-company\/#What_Do_We_Mean_By_ROC_Annual_Filing\" >What Do We\nMean By ROC Annual Filing?<\/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\/roc-annual-filing-for-section-8-company\/#Is_ROC_Annual_Filing_Mandatory_for_Section_8_Companies\" >Is ROC Annual Filing\nMandatory for Section 8 Companies?<\/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\/roc-annual-filing-for-section-8-company\/#What_Are_The_Benefits_Of_ROC_Annual_Filing\" >What Are The\nBenefits Of ROC Annual Filing?<\/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\/roc-annual-filing-for-section-8-company\/#Documents_Required_For_ROC_Annual_Filing\" >Documents Required\nFor ROC Annual Filing<\/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\/roc-annual-filing-for-section-8-company\/#What_Is_The_Process_Of_ROC_Annual_Filing\" >What Is The\nProcess Of ROC Annual Filing?<\/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\/roc-annual-filing-for-section-8-company\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Do_We_Mean_By_ROC_Annual_Filing\"><\/span>What Do We\nMean By ROC Annual Filing?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>ROC annual filing refers to the E-forms that\nall companies incorporated under the Companies Act must file annually. Every\ncompany doing business in India has to be registered with the Registrar of\nCompanies, i.e. ROC. ROC is an office under the preview of MCA (Ministry of Corporate\nAffairs). As per Section 396 of the Companies act of 2013, ROCs are responsible\nfor registering companies across states and union territories. <\/p>\n\n\n\n<p><strong>Note:<\/strong> For\nall the companies, it is mandatory to file annual forms with the ROCs from\nwhere they have received their company registration. <\/p>\n\n\n\n<p>The Registrar of Companies keeps records\nabout companies that are registered with them; this allows the general public\nto access this information in exchange for a prescribed fee. The Central\nGovernment maintains administrative control over ROCs or the Registrar of\nCompanies with the assistance of Regional Directors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_ROC_Annual_Filing_Mandatory_for_Section_8_Companies\"><\/span>Is ROC Annual Filing\nMandatory for Section 8 Companies?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The registration of non-profit companies is\nsubject to Section 8, Companies act of 2013; therefore, they are known as\nSection 8 companies. <\/p>\n\n\n\n<p>These businesses aim to promote any such\nthing, whether it be sports, business, the arts, science, education, research,\nsocial welfare, religion, charity, or environmental protection.<\/p>\n\n\n\n<p>Additionally, the company has to utilise\nrevenues and other profits, if any, to promote its goals only. Moreover, it is\nforbidden for them to distribute dividends to their members. No minimum capital\nis necessary at the time of incorporation since Section 8 companies are\ntypically registered as Guarantee Companies (hence not obliged to use phrases\nlike limited or private limited). <\/p>\n\n\n\n<p>Yes, Section 8 companies are required to file\nROC; as a result, to comply, Section 8 companies must hold an AGM following\nSection 101 of the Companies Act of 2013 at the end of each fiscal year and\nsubmit financial information and an annual return to the Ministry of Corporate\nAffairs. <\/p>\n\n\n\n<p>As per <em>Section\n129<\/em> and Section 137 of the Companies act 2013, all companies, including\nSection 8 Companies, must file their audited financial statements with ROCs.<\/p>\n\n\n\n<p>Similarly, the annual returns are submitted\nto ROC as per <em>Section 92<\/em> of the\nCompanies act, 2013.<\/p>\n\n\n\n<p><strong><em>Note: The abovementioned documents be filed\nwithin 30 days &amp; 60 days from the annual general meeting (AGM) date.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Benefits_Of_ROC_Annual_Filing\"><\/span>What Are The\nBenefits Of ROC Annual Filing?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Here is a list of benefits that a Section 8\ncompany can avail of after filing out ROC: <\/p>\n\n\n\n<ul><li>The filing helps the companies to analyse their financial position. In\nthis way, a company can quickly determine whether they are running in loss or\nprofit.<\/li><li>When a company regularly files ROC, it provides proof of its existence.\nBased on the filings done by a company, government updates their database. <\/li><li>(The company is deemed fictional if it has been a long time since it\nsubmitted annual reports, and the ROC has the authority to remove the company&#8217;s\nname from the register.)<\/li><li>Filing ROC protects the company from any legal complications.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_For_ROC_Annual_Filing\"><\/span>Documents Required\nFor ROC Annual Filing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Following is the list of crucial documents\nthat are needed for ROC Annual filing by a Section 8 company:<\/p>\n\n\n\n<ul><li>Balance sheet<\/li><li>Profit and loss account<\/li><li>Annual return<\/li><li>Cost Audit Report<\/li><\/ul>\n\n\n\n<p><strong>Following is the list of E-Forms required to be filled with ROC for\nSection 8 companies:<\/strong><\/p>\n\n\n\n<ul><li><strong>Form MGT-7 <\/strong><\/li><\/ul>\n\n\n\n<p>A form of MGT-7 is an annual return of the\ncompany. (According to the Companies (Management and Administration) Rules,\n2014, all companies are required to prepare and file an annual return at the\nclosing of each financial year.)<\/p>\n\n\n\n<p>MGT-7 must be filed within 60 days of the\nlast annual general meeting. The later date for filing the form is the 29th of\nNovember 2023 for the FY 2022-23. <\/p>\n\n\n\n<p>The form can be downloaded from the Ministry\nof Corporate Affairs portal under the annual E-filing category.<\/p>\n\n\n\n<ul><li><strong>AOC-4<\/strong><\/li><\/ul>\n\n\n\n<p>A form of AOC-4 is the financial statements\nof the company. The company&#8217;s Board of Directors must file the report in the\nformat prescribed. The report shall include the financial statements of that\nyear. AOC-4 must be filed within thirty days of the last annual general\nmeeting. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Is_The_Process_Of_ROC_Annual_Filing\"><\/span>What Is The\nProcess Of ROC Annual Filing?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The process of ROC Annual Filing for Section\n8 Company involves four simple steps, which are as follows:<\/p>\n\n\n\n<ul><li>Hold a board meeting<\/li><\/ul>\n\n\n\n<p>There are two reasons for holding a meeting:  <\/p>\n\n\n\n<p><strong>a) <\/strong>To Author the auditors to prepare the company&#8217;s financial statements as per Schedule III of the Companies Act, 2013. <\/p>\n\n\n\n<p><strong>b) <\/strong>Ask the directors or company secretaries to prepare the Board Report and Annual Returns per the Companies Act 2013.<\/p>\n\n\n\n<ul><li>Hold another meeting to approve draft financial statements and Board Report from the Board of directors.<\/li><li>Now hold the AGM and pass all the necessary resolutions of the company. <\/li><li>Finally, file the financial statements under form AOC-4 and the annual return under form MGT-7.<\/li><\/ul>\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>The Registrar of Companies (ROC), as described under Section 2 sub-section 75 of the Companies Act of 2013, is appointed under the Ministry of Corporate Affairs. In the current framework, the ROC is accountable for establishing business ethics and plays a significant role in facilitating business culture. Companies incorporated under Indian Company Law must file ROC for all the financial years they are in business. Filing ROC will not only help the companies to analyse their financial position. In this way, a company can quickly determine whether they are running in loss or profit but also protects the company from any legal complications.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/annual-compliance-for-section-8-company-india\/\">Annual Compliance for Section 8 Company: A Complete Checklist<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When we talk about companies, they are typically run to make a profit; however, since Section 8companies are non-profit organisations, they usually work for the benefit of society&#8217;s citizens. The goal behind the incorporation of such companies is to promote trade, commerce, charity, education, research in sports, religion, social welfare and environmental protection awareness. Therefore, [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":51271,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[120],"tags":[2952],"acf":{"service_id":"321"},"authorName":"Astitva Kumar","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-27.jpg","authorDescription":"Astitva Kumar is an advocate by profession and has completed her BBA. LLB from IP University. She is an avid reader, researcher, and legal writer. Her areas of interest include mediation, conflict resolution, finance, cyber laws, and taxation.","postViews":3795,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51266"}],"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\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=51266"}],"version-history":[{"count":3,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51266\/revisions"}],"predecessor-version":[{"id":51272,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51266\/revisions\/51272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/51271"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=51266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=51266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=51266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}