Overview
Form of Company/LLP | Penalty for Late Filing of Annual Return (MGT-7/Form 11) | Penalty for Late Filing of Financial Statements (AOC-4/Form 8) | Penalty for Non-Compliance of DIR-3 KYC | Disqualification of Directors/ Partners | Prosecution of Directors/ Partners | Inability to Raise Capital |
Private Limited Company | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Rs. 5000 for delay up to 15 days, Rs. 10,000 for delay between 15 to 30 days, and Rs. 50,000 for delay beyond 30 days | Directors may be disqualified from holding directorships in other companies for a period of five years if the company fails to file annual returns or financial statements for a continuous period of three years | Directors may face prosecution under the Companies Act, which could result in imprisonment or fines | Non-compliance can negatively impact the company’s creditworthiness and reputation, making it difficult to raise capital |
One Person Company | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Rs. 5000 for delay up to 15 days, Rs. 10,000 for delay between 15 to 30 days, and Rs. 50,000 for delay beyond 30 days | Directors may be disqualified from holding directorships in other companies for a period of five years if the company fails to file annual returns or financial statements for a continuous period of three years | Directors may face prosecution under the Companies Act, which could result in imprisonment or fines | Non-compliance can negatively impact the company’s creditworthiness and reputation, making it difficult to raise capital |
Public Limited Company | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Rs. 5000 for delay up to 15 days, Rs. 10,000 for delay between 15 to 30 days, and Rs. 50,000 for delay beyond 30 days | Directors may be disqualified from holding directorships in other companies for a period of five years if the company fails to file annual returns or financial statements for a continuous period of three years | Directors may face prosecution under the Companies Act, which could result in imprisonment or fines | Non-compliance can negatively impact the company’s creditworthiness and reputation, making it difficult to raise capital |
Limited Liability Partnership (LLP) | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Up to Rs. 100 per day, subject to a maximum of Rs. 1 Lakh | Rs. 5000 for delay up to 15 days, Rs. 10,000 for delay between 15 to 30 days, and Rs. 50,000 for delay beyond 30 days | Partners may be disqualified from holding the position of designated partner in other LLPs for a period of five years if the LLP fails to file annual returns or financial statements for a continuous period of three years | Partners may face prosecution under the LLP Act, which could result in imprisonment or fines | Non-Compliance |