Every year the financial statements of a company need to be registered with the Ministry of Corporate Affairs(MCA). For filling the financial statements with MCA form is AOC-4. In the Company's annual general meeting the form AOC-4 is submitted with the MCA for every Financial Year within 30 days.
And many more are filed. AOC-4 needs to be approved by a practising Company Secretary or Chartered Accountant (CA).
AOC-4 has to be filled by all company in 30 days. From the discussion conclusion of the Annual General Meeting with MCA. It has to be uploaded with the Auditor’s report, Board's Report and additional necessary documents.The uploads are as per activities of a company.
The certification from company secretary or the practising CA of a company is a mandatory part for AOC-4.
The financial statements of the company need to be filled with the Registrar of the Company every year. If a company declines to file these financial statements within the specified period.
Further, it will be responsible for an additional fee or penalty.
For filling a company annual return and annual account follow up with the procedure given below:
The following companies are asked to file AOC 4 form XBRL:
The nominal share capital and fees applicable is mentioned below :
Penalty for Late Filing
The penality is charged when a company fails to file AOC-4 form. Adjacent with a copy of the financial statements before the due date. The company will be condemned with a fine of Rs.1,000 for each day. During which the failure extends up to the highest amount of Rs.10 lakhs.
Moreover, the Managing Director, Directors and the Chief Financial Officer of the company could be sentenced with imprisonment.For a term which may extend to 6 months or with fine which will not be less than 1-5 lakhs.
The Government fee for filing AOC-4 would also be extended as follows:
Penalty for non-filing
The penalties defaulters along with the number of penalties imposed are mentioned below :
The company financial statements comprise of:
- Cash Flow statement
- Balance sheet
- Profit and loss account,
-Explanatory notes annexed to the financial statements and statement of change in equity.
Board report along the financial statements needs to be filed for all companies. The types of comapnies such as Private Limited Company, One Person Company, Limited Company etc. They should be presented to goverment, stakeholders, shareholders etc. during the fiscal year.
A complete list of documents that must be filed with AOC-4:
Requires to be filled in.
A statement has to be given by the Manager, Director, Secretary, CFO or CEO. Verify all data presented in the form is valid and accurate and is assent with the law. The form has to be digitally signed by
A full time practising CA or CS has to give a statement saying he/she has checked all the documents attached. Hence, he/she confirms all the details to be accurate, right and flawless.
The membership number must be stated .Along with the status that is associated or fellow by the practising professional. The practising professional has to also state the membership number and the status i.e. fellow or associate.
This article is written by Shrishti Jain, who is a content writer at LegalRaasta.India' one of the best portal LegalRaasta is a platform that offers legal services at a valuable cost like Private limited company registration, LLP Registration, Partnership Registration, Sole Proprietorship Registration, One Person Company Registration and many more.