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<h1>Late company filings for annual returns and financial statements allowed with daily additional fees, but penalties still apply</h1> Documents, facts, or information required or authorized to be submitted, filed, registered, or recorded under the Act must be completed within the prescribed time on payment of the prescribed fee. If filings under the specified annual return or financial statement provisions are delayed, they may still be filed after the deadline on payment of an additional prescribed fee not less than one hundred rupees per day, with different amounts permitted for different classes of companies, without prejudice to other legal action or liability. For other delayed filings, late submission is permitted on payment of prescribed additional fees, which may also vary by company class. Repeated defaults on two or more occasions may attract a higher additional fee. The company and defaulting officers remain liable to applicable penalties or punishment for the failure or default.