E Form MGT-7 and E Form MGT-7 A are essential filings necessary for all companies, regardless of size—be it a small company, other than a small company, or an OPC. These forms, namely MGT-7 and MGT-7 A, mandate companies to submit annual returns, shareholding specifics, and other relevant details. Compliance involves adhering to the rules and guidelines outlined by the MCA while furnishing these forms.
Why do you opt for Gen CompLaw with XBRL Software for E-form MGT 7 Filing?
The Gen Complaw with ROC Filing software stands as a leader in its field, proving highly efficient in facilitating the preparation of ROC e-forms, XBRL submissions, Resolutions, Minutes, Registers, and various MIS reports. Developed by SAG Infotech, this product ensures timely and error-free "XBRL" e-filings. Its effectiveness extends to aiding statutory compliances under the Companies Act, 2013, including the maintenance of fixed assets registers. With its ability to deliver faster responses in shorter durations, it remains a reliable performer for filing purposes.
Filing e-form MGT 7 & 7A procedure through the Gen Complaw software
Step-1: Install the setup of Gen Complaw with XBRL Software on the desktop.
Step 2: After installing the software open the dashboard of the software.
Step 3: Now choose the e-form option via the dashboard.
Step 4: After choosing the e-form option click on the Annual return form from the dashboard.
Step 5: Opt for the e-form MGT-7 (for the case when the organization is a company excluding a small company or a one-person company) or E-form MGT-7A (when the company is a small company and one-person company) form as under the applicability from the Annual filing form option.
You have the choice to import information into the form using two options: "Import from the previous year," which retrieves details if they were provided in the software in the previous year; and "Import from E-Form MGT-7/MGT-7A," enabling you to import details from previously prepared forms of the current or previous years. Additionally, you can generate E Form MGT-7A and import data from the previous year, Excel, or a previously filled-up form.
Step 6: After clicking the E Form MGT 7, the ‘Registration and Additional Particulars page will open in which the information is auto-filled you can modify the information provided when needed.
Step 7: Click on the ‘Registration and Other Details -1’ option to input company-specific information such as CIN number, name, address, company type, category, etc. You can import data from the previous year, an Excel sheet, or manually enter/edit the information.
Step 8: Next, navigate to 'Registration and Additional Items-2'. Fill in the financial year and the last date of the AGM. Additionally, the client can import AGM features from the previous year by selecting the AGM setup. All the required details will be imported into the form upon selection, allowing for further editing or manual entry.
Step 9: Once the information is furnished, proceed by selecting the next button or returning to the main window of E Form MGT 7. Navigate to the primary business directory section. Here, customers can include details such as the group code activity and business activity code descriptions. Alternatively, importing information from an Excel file is an option. Upon selection, details will be imported into the form, allowing the choice to edit or manually input the provided information.
Step 10: Opt for the holding, subsidiary, joint ventures, and pertinent companies. In the very step, the client can include the name of the company, CIN number, and distinct existing shares. All the information is given in the form as the same shall get imported in the form via choosing the option of import indeed you can choose to modify the information provided or manually insert the whole information.
Step 11: Hover the cursor on the share capital debenture which is another security of the company. It could be classified into 4 parts. In this section, the client inputs the face value, subscribed and paid-up equity, and preference share capital. All these details are available in the form and can be imported by selecting the import option. Additionally, there's the flexibility to edit the provided details or manually enter them.
Read Also: ROC Form MGT 7 & AOC 4 Penalty for Non-filing Taxpayers
Step 12: Proceed to the following step, 'Turnover and net worth of the company'. Here, enter the total turnover and net worth of the company. These details are pre-filled in the form and can be imported by selecting the import option. Alternatively, you can edit or manually input the information.
Step 13: Navigate to the next section to input the shareholding pattern. Enter the number of shares held along with the age and segment details. All this information is available in the form and can be imported by selecting the import option. You also have the option to edit or manually enter these details as needed.
Step 14: Select the option ‘number of promoters, members and debenture holder’. Information about the member, promoter, and others could be made via the client in the initial stage and at the finish of the year. The client is enabled to import the data of the members via the Excel sheet. All the information has been furnished in the form as the same shall get imported in the form via choosing the option of import and indeed you can modify the information provided or manually insert the complete information.
Step 15 i: Now, navigate to the section concerning directors and key managerial personnel. Here, you can input details regarding the directors at the beginning and end of the year. All the necessary information is available in the form and can be imported by selecting the import option. You also have the flexibility to edit or manually enter these details.
Step 15 ii: Move to the subsequent tab, 'Information of Directors and Key Managerial Personnel 2', where you can input specific details such as the person's name, DIN/PAN, designation, number of shares, board meeting attendance, etc.
Step 16: Select the next option for meetings involving members, class of members, board, and board committees. Input details like meeting dates, total number of meetings, attendance numbers, and the overall percentage of shareholding. Customers also have the option to import director information from Excel. All these details are provided in the form and can be imported by selecting the import option. Additionally, you can edit or manually enter the details as required.
Step 17: After completing the board members' information, proceed to the next section, 'Remuneration of Directors and Key Managerial Personnel'. Here, you can specify details such as names, designations, gross salary, commission, total amounts, etc., for the MD, whole-time director, and manager. All the necessary details are available in the form and can be imported by selecting the import option. Additionally, you can edit or manually input these details.
Step 18: Navigate to the section on 'Certification of Compliances and Disclosures'.
Step 19: Moving forward, proceed to input information related to 'penalties and punishments' imposed on the company, directors, or officers. Here, you can provide details such as names, company, court, date of order, name of the act and section, penalty, and punishment imposed on the business. If this scenario doesn’t apply, you have the option to import penalty-related information using an Excel sheet. All the necessary details are available in the form and can be imported by selecting the import option. Moreover, you can edit or manually enter these details.
Step 20: This stage necessitates the individual filing to include stakeholders in the statement and comply with Section 92 for listed companies. Additionally, provide details about the director and CS (Company Secretary) in practice.
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