Penalty for late filing of the e-forms under Companies Act, 2013

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Hello!! Don’t delay the filing of e-forms under companies act by more than 270 days from the last date of filing the form!!

Let’s start with discussing the charging section of penalties.

Section 403:  

Brief: If a assessee delays filing of e-form by more than 270 days from the time period granted for filing of the respective e-form, then penalty as given in the concerned section will be imposed.

For eg: If the resolution to be attached in MGT-14 is passed on 21.01.2015, then normal time to file the form is 30 days. Penalty will be imposed if the person doesn’t file the form within 300 days from 21.01.2015 or if the form is not filed within 270 days from 20.02.2015.

Bare law:
Sec 403. (1) Any document, required to be submitted, filed, registered or recorded, or any fact or information required or authorized to be registered under this Act, shall be submitted, filed, registered or recorded within the time specified in the relevant provision on payment of such fee as may be prescribed:
Provided that any document, fact or information may be submitted, filed, registered or recorded, after the time specified in relevant provision for such submission, filing, registering or recording, within a period of two hundred and seventy days from the date by which it should have been submitted, filed, registered or recorded, as the case may be, on payment of such additional fee as may be prescribed:
 Provided further that any such document, fact or information may, without prejudice to any other legal action or liability under the Act, be also submitted, filed, registered or recorded, after the first time specified in first proviso on payment of fee and additional fee specified under this section.
(2) Where a company fails or commits any default to submit, file, register or record any document, fact or information under sub-section (1) before the expiry of the period specified in the first proviso to that sub-section with additional fee, the company and the officers of the company who are in default, shall, without prejudice to the liability for payment of fee and additional fee, be liable for the penalty or punishment provided under this Act for such failure or default.
S.No.ParticularsSectionPenalty
1Commencement of BusinessSection 11(2)Company – upto Rs. 5,000/- Officer – upto Rs. 1,000/- per day
2Return of AllotmentSection 39(5)Company & officer in default: Rs. 1000/- per day or 1 lakh, whichever is less.
3Intimate alteration of CapitalSection 64(2)Company & officer in default: Rs. 1000/- per day or 5 lakh, whichever is less.
4DepositsSection 66(11)Officer will be liable u/s 447 and company will have to pay from Rs. 5 lakh to 25 lakh.
5ChargesSection 86Company: Rs. 1 lakh to 10 lakh Officer: Imprisonment upto 6 months and/or fine of Rs. 25000/- to 1 lakh
6Annual ReturnSection 92 (5)Company: Rs. 50,000/- to 5,00,000/-
Officer: Rs.  50,000/- to 5,00,000/- and/or imprisonment of 6 months
7Filing of resolutionsSection 117 (2)Company: Rs. 5 Lakh to 25 Lakh. Officer: Rs. 1 Lakh to 5 Lakh.
8Retirement of AuditorSection 140(3)Auditor: Rs. 50,000/- to Rs. 5 Lakh
9Intimation of DINSection 157 (2)Company: Rs. 25,000/- to Rs. 1 lakh Officer: Rs.  25,000/- to Rs. 1 lakh
10Disclosure of InterestSection 184 (4)Director: Rs. 50,000/- to Rs. 1 lakh and/or imprisonment upto 1 year.