MCA due date compliance calendar for OPC and DIR 3 KYC

MCA due date compliance calendar for OPC and DIR 3 KYC This articles discusses revised amended definition of Small Private Limited Company & MCA last date compliance calendar for OPC and DIR 3 KYC

Existing Definition:

Section 2(85): Small Company means a Company, other than a Public Company:-

(i) paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than ten crore rupees and

(ii) turnover of which as per profit and loss account for the immediately preceding financial year does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees:

Provided that nothing in this clause shall apply to -

(A) a holding company or a subsidiary company;

(B) a company registered under section 8; or

(C) a company or body corporate governed by any special Act;

Amended Definition:-

Keeping in view the insertion of clause (t) in Rule 2(1) of the Rules, it can be said that, for the purpose of bringing into effect the amended provisions, the definition under section 2(85) read along with the Rules shall be referred to, in the following manner: Small Company means a company, other than a public company-

(i) paid-up share capital of which does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than ten crore rupees and

(ii) turnover of which as per profit and loss account for the immediately preceding financial year does not exceed twenty crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees:

Provided that nothing in this clause shall apply to:-

(A) a holding company or a subsidiary company;

(B) a company registered under section 8; or

(C) a company or body corporate governed by any special Act;

Criteria	Old	New
Paid-up share capital	50 lakhs	2 crores
Turnover	2 crores	20 crores

Form MGT-7A: It is also important to note that w.e.f. F.Y. 2020-21, OPC and Small Companies shall file annual return in form MGT-7A instead of form MGT-7.

MCA COMPLIANCE CALENDAR (SEPTEMBER 2021)

PARTICULARS	DUE DATE	PENALTY AFTER DUE DATE
DIR 3 KYC (DIRECTOR KYC)	30/09/2021	Rs. 5000
AOC4 (FILING OF AUDITED FINANCIAL STATEMENTS WITH THE ROC) IN CASE OF ONE PERSON COMPANY	27/09/2021	Rs. 100/DAY
MGT 7A (FILING OF ANNUAL RETURN IN CASE OF ONE PERSON COMPANY)	27/09/2021	Rs. 100/DAY

Disclaimer:- The information contained in this write up, as provided by the author, is to provide a general guidance to the intended user. The information should not be used as a substitute for specific consultations. Author recommends that professional advice is sought before taking any action on specific issues. The author can also be reached at [email protected]