Which annual return does a one person company file?
A one person company files Form MGT-7A, not Form MGT-7. It does not hold an annual general meeting. The financial statements go in Form AOC-4 within 180 days of the year end, and MGT-7A follows within 60 days of the date those statements are deemed adopted.
Which forms, and by when?
For a financial year ending 31 March, 180 days ends on 27 September. That is the AOC-4 date. The statements are signed and adopted by the member, with the board’s report and the auditor’s report. A one person company does not attach a cash-flow statement. MGT-7A, the short annual return, is then filed within 60 days of that deemed adoption. The wider yearly set is on the annual compliances page. What AOC-4 contains is on the AOC-4 page.
| Form | What it is | Due |
|---|---|---|
| AOC-4 | Financial statements | 27 September |
| MGT-7A | Annual return | 60 days after the statements are deemed adopted |
What is not part of this filing?
There is no annual general meeting, so a due date counted from an AGM does not apply. The first auditor is appointed by the board within 30 days of incorporation, and that appointment is filed in ADT-1 within 15 days of the board’s decision. A later auditor is appointed by the member. The company is not excused from appointing an auditor because turnover is below a figure. Section 139 applies to every company.
The income-tax return is ITR-6, due on 31 October, or on 30 November if section 92E applies. It is filed with the tax department, not as an attachment that replaces AOC-4. Director KYC is the intimation in Form DIR-3 KYC Web by 30 June of every third consecutive financial year, explained on the KYC page. It is not an annual return.
What is the penalty for filing late?
A late financial statement attracts the penalty in section 137(3): ₹10,000 on the company and ₹100 for each further day, capped at ₹2 lakh, and ₹10,000 on the officer charged, with ₹100 a day capped at ₹50,000. A late annual return attracts the penalty in section 92(5): ₹10,000 and ₹100 a day, capped at ₹2 lakh for the company and ₹50,000 for the officer in default. The additional fee the Registrar charges for a delayed form is separate, and this page does not set that multiple.
Frequently asked questions
Four questions cover MGT-7, the AOC-4 date, audit, and the income-tax return.
Does a one person company file MGT-7?
No. A one person company and a small company file the short return, MGT-7A. MGT-7 is the return for other companies.
Is AOC-4 due 30 days after an AGM?
No. A one person company does not hold an AGM. AOC-4 is due within 180 days from the close of the financial year. For a year ending 31 March, that is 27 September.
Is the company exempt from audit below a turnover?
No. Section 139 requires every company to appoint an auditor. A turnover figure does not remove that appointment. A tax audit under the Income-tax Act is a separate question.
When is the income-tax return due?
A company files ITR-6. The due date is 31 October, or 30 November if the company has an international transaction or a specified domestic transaction under section 92E.
Sources
Financial statements of a one person company are filed under section 137, within 180 days of the year end. The annual return is section 92, in Form MGT-7A, within 60 days of the date those statements are deemed adopted.