MCA expiration date compliance schedule for OPC and DIR 3 KYC


MCA expiration date compliance schedule for OPC and DIR 3 KYC

This article discusses the revised modified definition of Small Private Limited Company & MCA Last Compliance Calendar Date for OPC and DIR 3 KYC

Existing definition:

Section 2 (85): Small company means a Company, other than a public company: –

(i) paid-up capital stock of which does not exceed fifty lakh rupees or a more than prescribed amount, which shall not exceed ten crore rupees and

(ii) the volume of business whose volume of business, according to the profit and loss account of the immediately preceding financial year, does not exceed two million rupees or a more than prescribed amount, which shall not exceed one hundred million rupees:

Provided that nothing in this clause will apply to:

(A) a holding company or a subsidiary company;

(B) a company registered under section 8; or

(C) a company or legal person governed by any special law;

Modified definition: –

Taking into account the insertion of clause

Small company means a company, that is not a public company-

(i) paid-up share capital not to exceed two crore rupees or the highest amount that is prescribed which shall not be more than ten crore rupees and

(ii) the volume of business whose volume of business, according to the profit and loss account of the immediately preceding financial year, does not exceed twenty million rupees or the higher amount that is prescribed, which shall not exceed one hundred million rupees:

Provided that nothing in this clause will apply to: –

(A) a holding company or a subsidiary company;

(B) a business registered under section 8; or

(Crib company or legal person governed by any special law;

Criteria Old New
Paid-up share capital 50 lakhs 2 million rupees
Rotation 2 million rupees 20 million rupees

Form MGT-7A: It is also important to note that for the 2020-21 fiscal year, OPC and Small companies will present an annual declaration in the form MGT-7A instead of the MGT-7 form.

MCA COMPLIANCE SCHEDULE (SEPTEMBER 2021)

DETAILED REPORT DUE DATE PENALTY AFTER THE EXPIRATION DATE
DIR 3 KYC (DIRECTOR KYC) 09/30/2021 Rs. 5000
AOC4 (PRESENTATION OF AUDITED FINANCIAL STATEMENTS BEFORE THE ROC) IN THE CASE OF A COMPANY OF ONE PERSON 09/27/2021 Rs. 100 / DAY
MGT 7A (PRESENTATION OF ANNUAL RETURN IN CASE OF A PERSON’S COMPANY) 09/27/2021 Rs. 100 / DAY

Disclaimer: –

The information in this article, provided by the author, is to provide a general guide to the intended user. The information should not be used as a substitute for specific inquiries. The author recommends that professional advice be sought before taking any action on specific issues.

The author can also be contacted at [email protected]





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