Form MGT-7 and MGT-7A

Ebizfiling

1. Type of Company

MGT-7 is for all other companies, including Private Limited and Public Companies. MGT-7A is for One Person Companies (OPCs) and Small Companies.

2. Paid-up Capital

Others must use MGT-7. Companies with paid-up capital of ₹2 crore or less may qualify as Small Companies and file MGT-7A.

3. Turnover Criteria

Higher turnover companies are required to file MGT-7. If your turnover is ₹20 crore or less, you may qualify for MGT-7A.

4. Number of Shareholders

Companies with multiple shareholders will likely fall under MGT-7. OPCs, with a single shareholder, always use MGT-7A.

5. Ease of Filing

MGT-7 is more detailed and suitable for larger companies. MGT-7A is simpler and shorter with fewer compliance burdens.

6. Statutory Compliance

Companies with complex structures must use MGT-7. Smaller businesses and OPCs benefit from relaxed rules under MGT-7A.

7. Penalties

MGT-7 may involve a higher penalty given its more complex nature. MGT 7A has lower penalty burden being a simple business structure.

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File ROC Annual Retrurn of a Company