Compulsory of a set of annual submission/declaration filing process with ROC (Registrar of Companies) in stipulated time frame for companies and LLPs operating in India with registration issued under the Regulation of Companies Act, 2013 and Limited Liability Partnership Act, 2008 strictly follow. Failure to undertake the obligation may attract a penal fee in accordance with the rules established in India. Further, companies and LLPs have to submit their IT returns on time, irrespective of any income, profit or loss incurred by the entity. The Registrar of Companies (ROC) is the regulatory body working under the Ministry of Corporate Affairs (MCA) which issues registration/incorporation certificates to Indian companies and LLPs, permits their closure and looks after their administrative processes.
After the end of the financial year, every company and LLP is obliged to file an annual return disclosing significant changes in the company and another report along with the audited financial statements of the company. The primary responsibility for compliance rests on the soldiers of the company's directors.