COMPLIANCE DUE DATE FOR FINANCIAL YEAR 2019-20

COMPLIANCE DUE DATE FOR FINANCIAL YEAR 2019-20

The financial Year of 19-20 has been ended on 31st March 2020 and due to COVID -19 Pandemic, an extension of various due dates was announced by Finance Ministry. Now almost all due dates under different applicable laws are approaching, so make compliances with the help of thelegalbank experts and be a part of Economic reforms.

The due dates for compliances are as follow for the Companies registered under Companies Act, 2013

S.No.

Compliances

Due dates

1

Preparations and Audit of Financial Statements

30.09.2020

2

AGM Holding

30.09.2020

3

Annual Filing of Companies

31.10.2020/30.11.2020

4

Annual Filing of LLP

30.09.2020

5.

All Belated Forms under Companies Act, 2013 and ROC Compliances for FY 19-20

30.09.2020

6.

ITR filing for FY 19-20

30.11.2020

  1. Preparation of Financial Statements

All Proprietorship, Partnership Firm, Companies, LLP requires to maintain their financial statements for the Financial year 2019-20 and Statutory Audit is required for all registered Companies.

An audit should be done by a qualified Chartered Accountants and he will be appointed as an Auditor of the Company for 5 years.  

We thelegalbank provides you service of accounting, preparation of financial statements, and audit with the help of experts.

  1. Annual General Meeting

As Per Section 96 of the Companies Act, 2013 Every Company should hold its Annual General Meeting for every Financial year within 6 months of the end of Financial year i.e. on or before 30th September after the end of concern Financial year.

The first Annual general meeting of the Company can be held within 9 months of the End of First Financial year.

Business to be transacted at the AGM

  1. Consideration of the Financials and Board Report.
  2. Declaration of Dividend.
  3. Appointment and remuneration of Directors.
  4. Appointment and remuneration of Auditor.

As per General Circular No. 28/2020 Dated 17.08.2020 of the Ministry of Corporate Affairs Extension for the AGM can be requested by filing GNL-1 due to COVID-19 Pandemic.

  1. Annual Filing of the Companies

As per section 134 of the Companies Act, 2013 every Company has to file its Financial Statement with the Registrar of the Companies within 30 days of the holding of AGM in E form AOC-4.

As per Section 92, the Annual return of the Company shall be filed in E form MGT -7 within 60 days of the holding of the Annual general meeting.

Listed Company or Company having a Paid-up share capital of 10 Crore or more or turnover of 50 Crore or more also required MGT 08  certified by practicing Company Secretary.

  1. Annual Filing of Limited Liability Partnership

Form 08: As per section 34(3) Every LLP needs to file a Statement of Account and Solvency in Form 08 within a period of 30 days from the end of Six months of Financial Year.

Form 11: As per Section 35(1) of the Limited Liability partnership every LLP has to file an Annual Return in form 11 within 30 days of the end of the Financial year.

According to MCA notification regarding CFSS, Form 11 can be filed up to 30.09.2020 for the FY 2019-20.

  1. Income Tax Return Filing

All assess having Income in any manner needs to file his Income-tax return before the due dates.

Type of Assessee

Due date

Due date for FY 2019-2020

All Individual, HUFs, Association of Persons, Body of individuals does not require Audit

31st July

30th November 2020

Company, Working Partner of Firm, other individual requires Audit of accounts

30th September

30th November 2020

Belated Return

For FY 18-19

31st August 2020

Belated Return

For FY 19-20

31st March 2021

 

 Written By

 CS. Neetu Sharma

 Associated Partner with Zumosun Soft Invention/thelegalbank