Mandatory Annual Compliance Calendar for Assam Companies
1. Statutory Auditor Appointment
The Board of Directors must appoint an independent Chartered Accountant firm as statutory auditor for a 5-year tenure and file Form ADT-1 with RoC Shillong.
2. Commencement of Business (Capital Deposit)
Directors must deposit their subscribed share capital into the company's bank account and submit bank proof verified by a CA to obtain commencement approval.
3. Annual Director KYC (DIR-3 KYC)
Every director holding a DIN must update and verify their mobile and email through OTP authentication. Failing to file deactivates the DIN and incurs a ₹5,000 late fee.
4. Filing Financial Statements (AOC-4)
File audited Balance Sheet, Profit & Loss Account, Director's Report, and Auditor's Report certified by an independent CA.
5. Annual Return Filing (MGT-7)
Comprehensive disclosure of shareholding structure, board meeting records, transfer of shares, and director changes during the fiscal year.
The Crippling Cost of Default: ₹100/Day Ongoing Penalties
Under Section 403 of the Companies Act, if an Assam company delays filing Form AOC-4 or MGT-7, the MCA levies an automatic late fee of ₹100 per day per form with no maximum cap. A delay of merely 6 months results in over ₹36,000 in statutory late penalties alone, in addition to potential prosecution under Section 92(5) and Section 137(3).
WebArtStudios Annual CA Retainer: Complete Peace of Mind
Our Guwahati Chartered Accountants provide fixed annual retainer packages tailored for Assam startups and SMEs. We handle bookkeeping, statutory audit, Board Resolutions, AGM minutes, DIR-3 KYC, AOC-4, MGT-7, and ITR-6 corporate tax returns under one transparent flat fee with guaranteed on-time filing.
Common Questions from Assam Founders
Q. Is annual ROC filing mandatory for an Assam company with zero business transactions?
Yes. Even if a Private Limited company has zero revenue or has remained completely dormant, filing Form AOC-4 and Form MGT-7 is legally mandatory to avoid ₹100/day compounding penalties.
Q. Who can conduct the statutory audit of a Private Limited company in Assam?
Under Section 139, the audit must be conducted by an independent practicing Chartered Accountant or CA firm. The company's internal accountant or directors cannot sign as auditor.
Q. How much does WebArtStudios charge for annual compliance retainers?
Our annual compliance packages start from ₹14,999/year for early-stage startups, covering statutory audit, all ROC filings, director KYC, and annual corporate income tax filing.
Start Your Business Legally in Assam Today
WebArtStudios provides complete end-to-end company and firm incorporation in Assam. From drafting constitutional deeds and SPICe+ MCA filings to GST, Trade License, and Udyam MSME certificate setup, our local CAs handle everything smoothly.