HOW TO CALCULATE THE ROC FEES?

“Get Done Your ROC Filing and ROC Compliance at Right time”

WHAT IS ROC?

Registrar of Companies in short is known as ROC. It is the Government authority under Ministry of Company Affairs, India that directs various companies registered under Companies Act 1956 and Companies Act 2013.

ROC ensures that companies are properly registered as per acts and rules of Companies Act, maintain accounts and other data accurately. ROC office maintains the registry of records. Individuals or corporate can access details about a company through ROC.

WHAT IS ROC FILING? WHAT IS ROC COMPLIANCE?

As per Companies Act, it is necessary the companies registered under ROC need to ensure compliances are documented with ROC through filing of relevant eforms. This process is called ROC filing. Annual return filing is the main part of ROC compliance. Financial reporting, directors and auditors reporting and maintaining of statutory register are a part of this ROC compliance.

ROC Noncompliance is dealt with severely with punishments, penalties, imprisonment and on the extreme closure of companies

WHAT IS ROC FEES?

ROC fees are the government fees for filing of ROC forms. When you want to file any forms with ROC, you need to pay ROC filing fees for the same. The process of filing of forms with ROC is complete only when the ROC filing fees is paid.

ROC fees vary depending on the forms, share capital of the organization and document requirements.

HOW TO GET DONE ROC FILING OF COMPANY / LLP?

It is advisable to get your ROC filing of your organization done through professional Chartered Accountants or Company secretaries. They offer professional ROC filing services and Annual Return Filing services

WHO IS RESPONSIBLE FOR ROC FILINGS OF A COMPANY / LLP?

It is the responsibility of the director or LLP partner to ensure ROC filings of their organization is done on time to ensure ROC compliance.

WHAT IS THE COST OF ROC RETURN FILING?

Apart from the nominal government fees/ROC fees, you need to pay professional fees to CS / CA/ ICWA. This professional fee varies from firm to firm.

ROC FEES AS PER MCA

Inspection of Company / LLP Documents

Viewing Company Documents on Portal –  Rs 100.00 per Company

Viewing LLP Documents on Portal –  Rs 50.00 per LLP

Certified Copy of Company / LLP Documents

Certificate of Incorporation – Rs 100.00 per copy

Certificate of Incorporation / Conversion for LLP –   Rs 50.00 per copy

Other Public docs.  – Rs 25.00 / page of a document

Other LLP docus.  –  Rs 5.00 per page per document

Transfer Deeds

Nominal Face value of shares is up to Rs. 5000 –   Rs 50 per deed

Nominal Face value of shares is more than Rs. 5000 –   Rs 100 per deed

How to calculate ROC fees?

Go to MCA website—www.mca.gov.in—-MCA Services—-Fees and payment service—-Enquire fees—-select company or LLP–Select form —Give CIN number if necessary—-Select the purpose of filing. Select the date of event—-Click on the calculate button.

Alternately use can use Filing Point ROC Fee calculator for company registration fees. Visit www.filingpoint.com  —- Company registration tab———Click on Roc fees calculator—-Select State—–Select Company / OPC/LLP—–Enter capital investment—Click calculate.

Your ROC fees breakup will be displayed instantly on your screen.

We understand you still have queries and need clarifications on ROC fees and compliance. 

Filing Point is top business registration specialists in Chennai. We are one stop solution business services provider. In case you are looking for ROC filing services in Chennai, Filing Point can help you with your requirements. We are always happy to answer your queries anytime. Get in touch with us today.

TOP 10 TIPS TO AVOID A PENALTY

Failing to adhere to ROC Compliance is bad enough, but the fines, penalties and Challenges can make your financial burden substantially worse. This can make it tough for the business owners to manage and run their business smoothly.

REASONS FOR NONCOMPLIANCE

POOR INTENT- The organization may not be serious about Annual Return Filing or any ROC filing. This can result in ROC Noncompliance

CASH FLOW CHALLENGES- The Company or LLP may not able to pay taxes on time due to cash flow challenges

INSUFFICIENT EXPERTISE- The business owners may be ignorant about all the rules and regulations that they need to follow as per ROC. But Ignorance of law is no excuse. It is advisable to engage ROC filing services from professionals.

PROCESS FAILURE- Sometimes there can be errors in the information submitted to ROC. There can be errors in ROC forms uploaded too. This is also considered as non-compliance.

LEVELS OF NON COMPLIANCE

Noncompliance is dealt with severely by ROC. The following are various levels of actions taken for Non-compliance

FINES—It is the first step of non-compliance where fines are levied. This is an unnecessary cost that can be easily avoided through on time tax payments and ROC Filing in Chennai

PENALTIES OR SCRUTINY—It is the next level of action by ROC. Here the company has to bear the additional cost of fine and penalties, spend precious business hours for scrutiny by the department. OFFENCE- It is the further level of action taken by ROC. Here the offensive organization has to bear additional cost, spend precious business hours on scrutiny and the status of the company goes to dormant status. It is a serious offence if the company is yet to resolve the issue

STRIKE OFF- This is the last stage wherein ROC directs the organization to pay all fines or penalties. Precious business hours are wasted on scrutiny by the department. Your company will be struck off from the register of companies and the authorized persons may have to face imprisonment too.

ROC NON COMPLIANCE AND THEIR CONSEQUECES

NON COMPLIANCE -Failure to carry out Annual Return filing

CONSEQUECES- Delay up to 330 days of AGM, Maximum up to 12 times of normal fees. —If AGM is above 330 days, then 12 times of normal fees plus Fine not be less than Rs. 50,000/- but which may extend to Rs.5,00,000

NON COMPLIANCE- Failure to carry out Annual Return Filing – Directors

CONSEQUECES- If AGM is above 330 days, then Imprisonment for 6 month , Fine not be less than Rs. 50,000/- but which may extend to Rs. 5,00,000 or both

NON COMPLIANCE- Failure in Filing of Financial Statements

CONSEQUECES -Delay up to 330 days of AGM, Maximum up to 12 times of normal fees. If AGM delay above 330 days, then 12 times of normal fees plus Fine not be less than Rs. 1,000/- but which may extend to Rs. 10,00,000

NON COMPLIANCE- Failure in Filing of Financial Statements- Directors

CONSEQUECES- More than 330 days of AGM, Imprisonment for 6 month , Fine not be less than Rs. 1,00,000/- but which may extend to Rs. 5,00,000 or both

NON COMPLIANCE- Failure in Maintenance of Statutory Registers and Records

It is a must for organizations registered with ROC to maintain 1. Register of Directors and KMP’s and their Shareholding 2. Register of Members  3. Register of Charges  4. Register of Loans, Guarantee, Security and Acquisition  5. Register of Investments  6. Register of Contracts  7. Board Meeting Minutes and Annual General Meeting

CONSEQUECES- Penalty may be varies from Rs. 1,000 to Rs. 5,00,000

NON COMPLIANCE- Failure in Event-Based Filings

Event-Based Filings  are 1. Change in Authorized or Paid-up Share Capital of the Company. 2. Transfer of shares 3. Appointment / Change of Directors. 4. Appointment or Change of Auditors. 5. Loans are given to other Companies. 6. Loans to Directors (only if the company complies with Section 185) 7. Opening or closing of bank accounts or change in authorized signatories. 8. Creation or satisfaction of Charges. It is a must for organizations registered with ROC to do event based filings

CONSEQUECES- Penalty may be varies from Rs. 1,000 to Rs. 5,00,000

TOP 10 TIPS TO AVOID PENALTY

Following are the 10 Tips to avoid Penalty or fines

  1. ON TIME PAYMENTS- It is important to pay your taxes on time within due date to avoid penalties, fines or interest. It is the first step of compliance
  2. ON TIME REPORTING- ROC expects proper reporting of business activities and their financial statements within due dates. It is necessary to report all financial activities of the business periodically through relevant ROC filings
  3. RIGHT COMPLIANCE – Follow the practice of on time tax payments, on time reporting or filing of returns and adhere to relevant guidelines of ROC. This ensures you to be in the good books of ROC.
  4. CALENDER OF ACTIVITIES- Prepare a calendar of activities every month to keep track of due dates for various payments, reporting or filing. Your could engage professional services of ROC filing for private limited companies or  ROC Filing in Chennai  to keep you updated about due dates and payments
  5. CHECKLISTS – Prepare a checklist periodically to crosscheck whether you have complied all the payment due dates and reportings to ROC. This ensures better control over the affairs to be reported to ROC. Professionals like Auditors in Chennai or Company Secretaries can help with ROC Filing in Chennai 
  6. SPECIALIST AUDITS- To be ahead you could engage professional ROC filing services to conduct specialist audits and verification of your books of accounts to ensure you are on the right path.
  7. ENGAGE PROFESSIONALS- It is always advisable to engage professional like Chartered Accountants in Chennai or Company Secretaries to handle all the activities related to ROC.
  8. OUTSOURCE YOUR BACK END TASK- We understand entrepreneurs need to concentrate on core business activities rather than worry about back end tasks of accounting,tax and compliance. Outsource all your back end task to professionals who are competent.
  9. BE HONEST AND PAY RIGHT TAX- Keep your accounts clean and pay your taxes right. This goes a long way in making you honest tax payer and be in good books of ROC
  10. CASH FLOW MANAGEMENT- It is important to have good cash flow management to meet all your tax obligations and compliances. This is the most important action to be taken by every organization.

We understand you still have queries and need clarifications on ROC compliance. 

Filing Point is top business registration specialists in Chennai. We are one stop solution business services provider. In case you are looking for ROC filing services in Chennai, Filing Point can help you with your requirements. We are always happy to answer your queries anytime. Get in touch with us today.