Who Are Liable to File ROC Annual Returns in India 2023?


Who Are Liable to File ROC Annual Returns in India 2023?

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A Registrar of Companies, or ROC, is the government agency that regulates Limited Liability Partnerships in India. ROC compliance is a mandatory process that involves submitting various documents and financial statements annually to the ROC. This ensures transparency and compliance with statutory regulations. In addition, it guarantees effective company running and protects stakeholders' rights. Failure to adhere to ROC rules can result in sanctions and legal consequences.

Regardless of their size, type, or business operations, all LLPs are required to complete annual filings with the ROC and Income Tax Department. These filings include submitting Form-11, and submitting both Form-8 and Statement of Accounts and Solvency. It is important that businesses follow the ROC compliance calendar, and ensure that all documents are filed on time.

The ROC filing process includes filling out specific forms designated by the Registrar of Companies, and uploading these documents to the MCA portal. Companies are also required to pay the requisite filing fees. These documents are then verified and certified by a practising professional, such as a Chartered Accountant or Company Secretary, before being submitted to the ROC.

While it is possible for small businesses to handle ROC filings on their own, hiring an expert can help ensure that all documents are filed correctly and on time. This can reduce the risk of internal mismanagement and missed deadlines, which can lead to costly fines and penalties. In addition, it can help in ensuring that all necessary financial statements and reports are included in the final filing.

 

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