Form MGT-7A: Everything about Annual Return of Small companies & OPC
Earlier all the companies (public/ private/ OPC) were required to file annual return in Form No. MGT-7. However, Ministry of Corporate Affairs (MCA) on 5th March 2021 amended Companies (Management and Administration) Rules, 2014 and issued Companies (Management and Administration) Amendment Rules, 2021. According to the amended rules, every company shall file its annual return in Form No. MGT-7 except One person Company (OPC) and small company. A new Form No. MGT-7A has been prescribed in respect of annual return of OPC and small companies. In this article, we will discuss about the Form No. MGT-7A in details.
What is e-form MGT-7A
- Form MGT-7A is the form prescribed for Annual Return of One Person Company and Small companies.
- This form is applicable in respect of Annual Return for the F.Y. 2020-21 and onwards of OPC and small companies.
- All other companies shall continue to file their Annual Return in Form No. MGT-7.
- Form No. MGT-7A is required to be filed to ROC along with prescribed fees.
Who is required to file MGT-7A
As discussed above, the following two category of companies are required to file MGT-7A:
- One Person Company
- Small Company
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You must be curious to know what is One Person Company and Small Company???: Read carefully- What is One Person Company As per Section 2(62) of Companies Act, 2013, “One Person Company” means a company which has only one person as member. What is Small Company
Provided that: Nothing in this clause shall apply to- To sum up, we can say that a company is not a small company if:
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From which financial year Form MGT-7A is applicable
Form No. MGT-7A is applicable for Financial Year 2020-21 and onwards.
What are the features of Form MGT-7A
Form MGT-7A is the form for Annual Return for One Person Company and Small Company. While filing MGT-7A, the company has to select the applicability out of two- (a) OPC (b) Small Company. One of the most important features of MGT-7A is that it does not need certification of Company Secretary. It can be filed with DSC of Directors only.
Form MGT-7A requires lesser information as compared to MGT-7. Following information are not applicable in case of MGT-7A:
- Date of AGM
- Particulars of Associate companies like holding or subsidiary (including joint ventures)
- Details of unclassified share capital
- Break-up of share capital
- Details of Shares or Debenture transfer
- Shareholding pattern (promoter/ non-promoter)
- Member/ other meeting details
- Details of board meeting
- Attendance of directors
What is the due date of filing Form MGT-7A
Form MGT-7A is required to be filed within 60 days from the date of AGM of the company. Generally, the due date for AGM is in or before 30th September following the end of every financial year. Thus, we can say that last date for filing Form MGT-7A is 29th November every year.
What is the prescribed filing fees for Form MGT-7A
Prescribed fees for filing of Form MGT-7A are as below:
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In case of company having share capital- Nominal Share Capital |
Fees Prescribed |
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Less than Rs. 1 Lakh |
Rs. 200 |
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Rs. 1 Lakh or above but less than Rs. 5 Lakhs |
Rs. 300 |
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Rs. 5 Lakhs or above but less than Rs. 25 Lakhs |
Rs. 400 |
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Rs. 25 Lakhs or above but less than Rs. 1 crore |
Rs. 500 |
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Rs. 1 crore or above |
Rs. 600 |
Conclusion:
In case of OPC and small companies form MGT-7 has been replaced with MGT-7A. This form is to be filed for F.Y. 2020-21. MGT-7A is a simplified form of Annual Return for OPC and small companies. In case of procedural difficulties in filing of MGT-7A, you may call for assistance at: 09660930417.
