What Do We Mean By ROC Annual Filing?

ROC annual filing refers to the E-forms that all companies incorporated under the Companies Act must file annually. Every company doing business in India has to be registered with the Registrar of Companies, i.e. ROC. ROC is an office under the preview of MCA (Ministry of Corporate Affairs). As per Section 396 of the Companies act of 2013, ROCs are responsible for registering companies across states and union territories.

Note: For all the companies, it is mandatory to file annual forms with the ROCs from where they have received their company registration.

The Registrar of Companies keeps records about companies that are registered with them; this allows the general public to access this information in exchange for a prescribed fee. The Central Government maintains administrative control over ROCs or the Registrar of Companies with the assistance of Regional Directors.

ROC Annual Filing For Section 8 Company

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’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, all businesses established under the Companies Act must file ROCs with the Ministry of Corporate Affairs (MCA), which calls for the submission of annual reports and audited financial statements. Since Section 8 Companies are created under the Companies Act 2013, they must comply with all annual compliance like any other company.

Is ROC Annual Filing Mandatory For Section 8 Companies?

Yes, Section 8 companies are required to file ROC; as a result, to comply, Section 8 companies must hold an AGM following Section 101 of the Companies Act of 2013 at the end of each fiscal year and submit financial information and an annual return to the Ministry of Corporate Affairs.

As per Section 129 and Section 137 of the Companies act 2013, all companies, including Section 8 Companies, must file their audited financial statements with ROCs.

Similarly, the annual returns are submitted to ROC as per Section 92 of the Companies act, 2013.

What Are The Benefits Of ROC Annual Filing?

Here is a list of benefits that a Section 8 company can avail of after filing out ROC:

  • The filing helps the companies to analyse their financial position. In this way, a company can quickly determine whether they are running in loss or profit.
  • When a company regularly files ROC, it provides proof of its existence. Based on the filings done by a company, government updates their database.
  • (The company is deemed fictional if it has been a long time since it submitted annual reports, and the ROC has the authority to remove the company’s name from the register.)
  • Filing ROC protects the company from any legal complications.

What is ROC Annual Filing for Public Limited Company?

What is a Public Limited Company?
  • A Public Limited Company is a company that offers shares to the general public and has limited liability.
  • Moreover, Public Limited Company is required to publish its true financial status to its shareholders.
Annual Return of the Public Limited Company  
  • The Public Limited Companies are undoubtedly required to make the largest number of compliances every year, as compared to those by all other types of companies.
  • Every Public Limited Company in India mandatorily required to file annual filling every year as per the Companies Act, 2013.
  • The Public Limited Company needs to file the Balance Sheet, P&L Account and other documents with MCA.
  • The Annual Return is totally different from the income tax department and it’s governed by Ministry of Corporate Affairs.

Advantages of Public Limited Company Annual Filing

  • Proper compliance according to company law is the obligation of every company, it creates transparency. The regular compliance increases the credibility of the company.
  • The Annual Compliance helps in marinating active status.
  • Regular annual compliance results in assuring the clients that the company is regularly reviewing its operation. So, they can trust the company regarding their operations.
  • Annual compliance gives a competitive edge in the market. It can be used in advertising the business & assuring the investors or customers about the company’s business.
  • Annual compliance by the companies ensures that the data collected for annual compliance is correct.
  • Many times small businesses end up with heavy penalties as they do not comply with annual compliances. So, regular annual compliances result in avoiding heavy penalties.
"Every Company (whether having share capital or not) and every Limited Liability Partnership (LLP) has to comply with certain Annual Compliances irrespective of whether the Company or LLP has done any business or not. The filings and reporting is done with the Registrar of Companies under the Ministry of Corporate Affairs which should be done annually. All the compliances are mandated under the provisions of the Companies Act 2013 and Limited Liability Partnership Act 2008 as applicable."