Statutory & Regulatory Filings

• ITR-7 (late filing): Penalty up to Rs.10,000 under Section 234F; risk of 12A cancellation
• FC-4 (non-filing): FCRA registration suspended or cancelled; criminal prosecution possible
• MGT-7A / AOC-4 (Section 8 late filing): Rs.100 per day per form — can accumulate to lakhs
• ADT-1 (late): Rs.300 per day penalty
• DIR-3 KYC (non-filing): Director DIN deactivated — prevents all MCA filings
• Darpan non-update: Profile deactivated — all government grant applications rejected

Q: What is the penalty if a Section 8 company misses its AGM?
Section 8 companies must hold AGM within 6 months of the close of the financial year (by 30th September). Failure to hold AGM or file related MCA forms attracts penalties starting at Rs.100 per day per form, and the MCA can strike off the company for persistent non-compliance.

Q: Can missed filings be regularised retrospectively?
Yes, in most cases. MCA offers condonation of delay schemes for late AOC-4 and MGT-7A filings with higher fees. Income Tax allows belated ITR filing up to 31st December. FCRA late FC-4 filings may be accepted with a penalty. MFiling handles regularisation for all such delayed filings.

Missed statutory filings are among the most common problems MFiling encounters during compliance audits. The good news is that most missed filings can be regularised — but the process differs by authority, and delay in regularising only compounds the penalties and risks. Here is what to do if filings have been missed.

Missed ITR-7 (Income Tax):

• File updated ITR-7 immediately for the immediately preceding assessment year — the Income Tax portal accepts updated returns within 2 years of the relevant assessment year
• For years beyond 2 years, file a condonation of delay application to the Commissioner of Income Tax (Exemptions)
• Do not ignore even one missed year — a gap in ITR-7 filing history causes rejection of 12A/80G Form 10AB renewal applications

Missed AOC-4 / MGT-7A (Section 8, MCA):

• File immediately with additional fees — MCA charges Rs.100 per day per form for late filings, accumulating from the due date to actual filing date
• If the penalty has grown very large, check for MCA condonation/amnesty schemes — MCA periodically announces reduced late fee windows
• Deactivated DINs (due to missed DIR-3 KYC) must be reactivated before any MCA filings can be made

Missed FC-4 (FCRA):

• File the missed FC-4 immediately on the MHA Seva portal — late filings are accepted with an explanation letter
• Prepare a board resolution acknowledging the delay and confirming all foreign contributions were properly received and utilised
• Include the late filing acknowledgement receipt in all future FCRA renewal applications

MFiling provides emergency regularisation services for all types of missed filings — contact us immediately when you discover a compliance gap.