[attachment file="39591"]

Introduction to Form AOC-4

Mentioned in the Companies Act 2013, every registered company needs to show its annual accounts and annual returns to the Ministry of Corporate Affairs, the due date for which is 30 days and 60 days respectively from the date of Annual General Meeting. Companies must furnish Form AOC 4 every year to MCA declaring their financial status in the market.

Due Date Along with Other Requisites of AOC 4

AOC 4 helps MCA to acknowledge the financial health of a business, therefore it has to be filed properly and within time. The prescribed deadline for furnishing AOC 4 is 30 days from the date of concluding Annual General Meeting with MCA.

Documents adjoining AOC 4 are Board’s Report, Auditor’s Report and other financial statements stating the company’s business activities. AOC 4 needs authentication from the company’s practicing CA or CS.

Guidelines to Furnish Form AOC 4

The financial statement is a compliance demand from any company registered as a business in India. Financial statements of the company should reach to the registrar of the companies who works for MCA (its parent agency). Failure may invite penalties or other additional charges for the company.

Guidance for Filing an Annual Return and Annual Accounts:

• A proper board report is prepared by The Directors and Company Secretary after conducting a board meeting.
• Auditor prepares the financial statements to be presented to MCA.
• Second Board Meeting is held for approval of the prepared financial statements by the directors of the company.
• The company then needs to state all its financial statements to its shareholder in the Annual General Meeting. After all, they are the finalizers of all the documents.

Documents Affixed with Form AOC-4

By financial statements, we mean the company’s Balance Sheet, Profit and Loss Statement, Cash Flow Statement and other relevant documents stating the financial position of the company. Affixed to that we need:

1. Board’s Report and Auditor’s Report approved by the company’s key officials.
2. Statement of subsidiaries in Form AOC-1.
3. A statement depicting reasons for not adopting Financial statements in the annual general meeting (AGM) (if any).
4. A statement declaring reasons for not holding the AGM (if any).
5. Approval of letter of extension of the financial year or AGM
6. CSR policy of the company.
7. Supplementary of test audit reports under section 143.
8. A detailed list of entities related to the company.
9. Details of transactions with related parties
10. Details of comments of CAG of India
11. Secretarial Audit Report
12. Director’s report
13. Details of remaining CSR Activities
14. Other required documents except the ones mentioned above.

Filing of Form AOC-4

Mentioned in The Companies Act 2013, documents adjoining Form AOC 4 must be duly signed by the person authorized with the filing of form AOC 4.

To be Noted: In AOC 4 only hand-signed copies are accepted, no SD copies will get rejected by the authorities.

Conditions under which a company is required to frame its financial statements on the MCA portal in XBRL format or also through Gen CompLaw with XBRL authorized by govt.

1. If the company is in the list of any Stock Exchanges.
2. If the company has paid the share capital of Rs. 5 Crores or above in a Financial Year.
3. If the company is earning a turnover of Rs. 100 Crores and above in a Financial Year.

Fees Charged for Filing Form AOC-4

A nominal amount is charged by the companies while filing Form AOC 4. Stated below is the fees slab based on the company’s share capital:

SHARE CAPITAL FEE CHARGED

• Less than 1,00,000 - Rs.200 Per Form
• 1,00,000 to 4,99,999 - Rs.300 Per Form
• 5,00,000 to 24,99,999 - Rs.400 Per Form
• 25,00,000 to 99,99,9999 - Rs.500 Per Form
• 1,00,00,000 and More - Rs.600 Per Form

Fine on delay in filing of AOC-4

The company is prone to heavy penalties on delay or non-filing of AOC 4. The fine of Rs. 100 per day is charged on delay in filing form AOC 4. The amount sums up to a maximum of Rs. 10 Lakhs if the company fails to file the form with accurate details to MCA. At worst, the Managing Director, Director and the Chief Financial Officer of the company, can get penalized with six months imprisonment or may get a fine in between Rs.1 Lac to Rs.5 lakhs depending on the situation.

Adding to the Imposed Penalties, AOC 4 Filing Fees will Also Increase as Follows:

Number of Days Penalty Amount for Late Filing

• Delay Up to 30 days 2 times of regular filing fees
• Delay for more than 30 days but less than 60 days 4 times of regular filing fees
• Delay for more than 60 days but less than 90 days 10 times of regular filing fees
• Delay for more than 180 days but less than 270 days 12 times of regular filing fees

In order to escape the above-mentioned grievances, the company must file its AOC correctly and on time. Nowadays anytime assistance is available for those who are un-aware with the compliance. One may take help from such entities to avoid any inconvenience in filing Form AOC 4.