11 February 2011
Query 1. As per Sec 220,annual accounts to be filed with ROC with in 30 days of the date of laying the annual accounts at the AGM i.e if AGM date is 20th Aug,2010 then accounts to be filed is by 19th sept,2010.But in my training i have filed the annual accounts in the month of Nov/Dec,I have also seen that in MCA portal,the dates of filing the accounts last year by alphabets so as to avoid too much rush on site.
Please clarify this.
Query 2. What is composition of offences as per Sec 621A.
12 February 2011
1) Section 220 specifies that the annual accounts must be filed within 30 days of AGM. But many companies do not file their returns within the stipulated time and file them late with Additional Fee. That is how you see the returns being filed in the months of November, December, etc.
As said above the Balance Sheet and P & L Account i.e. 23AC and 23ACA need to be filed within 30 days of AGM and the annual accounts need to be presented in AGM within 6 months of closing the accounts. So all companies having FY ending 31st March, prefer to hold the meetings in September and hence there is a heavy rush in September / October for filing. Hence to ease out the rush, MCA has given dates alphabetical orderwise.
2) Compounding of Offence means the company has on its own admitted the fact that it has committed an offence (non-compliance of provisions) under the Companies Act, 1956 and makes an application to CG for non-initiation of any prosecution by the Registrar or by any shareholder or by any person authorised by Central Government by paying appropriate fine imposed by CG. Offences which are punishable with imprisonment only or with imprisonment and also with fine, cannot be compounded u/s.621A.
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