New Income Tax Filing Features
New Income Tax Filing Features
Form MGT-7 is an electronic form for filing annual return by a company to ROC on MCA portal.
All companies registered in India have to file Form MGT-7 every year. The due date for filing MGT-7 is 60 days from the date of the Annual General Meeting. Also, Any failure or delay in filling the form may attract fine/penalties on the company.
In Form MGT-7, the company has to mention the following information with respect to the financial year for which the form is filed:
To prepare and file form MGT-7, various financial and operational information pertaining to the financial year would be required. Hence, before preparing MGT-7 it is advisable to keep a copy of audited financial statement of the company handy.
Time needed: 5 minutes.
First and foremost, the form must be downloaded from the MCA Portal.
Users can avail pre-fill facility which auto-fills the form based on details that have already been collected.
Next, the form must be filled carefully, and all the details it asks for must be provided. Please make use of the instruction kit
Next, upload the necessary documents and attachments as mentioned above.
Before submitting go through the form once again and check for errors. Attach your digital signature to authorize the form, and then click Submit.
Upload the form and pay the required transaction fees.
Note down the SRN number which has been generated for future reference
Following documents must be filed with Form MGT-7:
In case of company other than OPC:
-60 days from AGM date or Calculated due date of AGM whichever is earlier
In case of one person company:
-60 days starting from the expiry of 6 months from the closing date of Financial Year
The amount which is to be paid along with form MGT 07 is mentioned in the table below:
|Nominal Share Capital||Normal Fee Applicable in Rupees|
|Less than 1,00,000||INR 200|
|1,00,000 to 4,99,999||INR 300|
|5,00,000 to 24,99,999||INR 400|
|25,00,000 to 99,99,999||INR 500|
|1,00,00,000 or more||INR 600|
Moreover, For the companies not falling under any of the above-mentioned criteria, the fees along with MGT-7 form is Rs. 200.
Form MGT-7 of a small company or a one-person company must be signed by the Director of a company or a company secretary in practice. Moreover, It must be signed by using a class 2 digital signature.
(a) Late filing – Rs 100 per day as “ penalty “ upto maximum Rs 5 Lac + company and its officers who is in default shall be liable to pay penalty of Rs 50000.
(b) Non-filing – Non Filing for continuous period of three financial years will leads to disqualification of Directors.
Additionally, after the companies amendment act 2019, Delay filing of annual returns will also amount to adjudication by ROC after issuing of Show Cause Notice.
No, If dormant status is taken from ROC then compani is not required to file MGT-7.
As per provisions of section 92, if there is no AGM held, then within 60 days will be considered from the date on which the AGM should have been held. The MGT-7 also should be attached with reasons for not holding the AGM.
Yes, the company can able to file MGT-7.