The Ministry of Corporate Affairs has notified the Companies (Management and Administration) Amendment Rules, 2021 which seeks to amend the Companies (Management and Administration) Rules, 2014.
The said amendment has notified that One Person Company (OPC) and Small Company shall file annual return in Form MGT-7A from the financial year 2020-21.
The Annual Return shall be filed with the Registrar with such fees as specified for this purpose.
In order to accord the change, in rule 11, for sub-rule(1), the following has been substituted:
(1) Every company shall file its annual return in Form No. MGT-7 except One Person Company (OPC) and Small Company. One Person Company and Small Company shall file annual return from the financial year 2020-2021 onwards in Form No. MGT-7A.
Additionally, rule 12 has been substituted:
12. Filing of Annual Return with Registrar - A copy of the annual return shall be filed with the Registrar with such fees as may be specified for this purpose.
This Article was authored by Tushant a passionate blogger by .
Co-founded Tax Ninja with the aim to serve knowledge digitally.
He's on a valiant quest to share his knowledge of Income Tax and GST.
Life motto : Do my best, so that I can't blame myself for anything
