To most of us, we have heard of ROC filing and not many of us are aware what exactly it is? How to go about ROC filing for our companies? Is it important to file ROC? There are so many questions and most of us have no idea about it. Well, there are simple facts to have at the back of your mind when you hear about ROC filing.
So, what does ROC stand for?
It’s simple, Registrar of Companies (ROC). The ROC is an office under the Indian Ministry of Corporate Affairs that deals with administration of the Companies Act 1956 and Companies Act, 2013. At present, there are 22 Registrars of Companies (ROC) operating from offices in all major states of India. Section 609 of the Companies Act, 1956 tasks the ROCs with the primary duty of registering companies and LLPs floated in the respective states and the union territories under their administration.
Is it important for companies to do ROC filing?
The answer is simple Yes! Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129 (3), 137, of The Companies Act , 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and annual return is governed under Section 92 of the Companies Act, 2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.
While filing ROC, it’s important to remember that Roc filing as per companies amendment rules
Under Section- 92 (Filing of Annual Return) Companies shall be required to file the Annual Return within 60 days of AGM. Now, the additional time period of 270 days provided under Section-403 for filing of annual return is removed from this section.
The same amendment is there for filing of financial statements also under Section-137 and they shall be filed within 30 days of AGM (additional time period has been removed).
Usually date of annual general meeting is taken as 30 September of every year.
Now, it is quite understandable if you feel intimidated after reading the rule on ROC filing. After all, you line of business and interest is far from what you are looking at when it comes to ROC filing, GST Registration or filing income tax returns. These are terminologies that can be far more difficult and time consuming than what you expected. It is always suggested that you opt to corporate solutions, who are trained in dealing with these matter.