Annual Return Due Date Extension - AOC-4 & MGT-7

The Ministry of Corporate Affairs (MCA) has notified the Relaxation on levy of additional fees in the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL and AOC-4 Non-XBRL for the financial year ended on March 31, 2020. According to Company Act 2013, all the registered Companies in India need to furnish Form AOC 4 for every financial year. Any failure or delay in filling the form may attract penalties on the company.

Considering the requests received from stakeholders regarding relaxation on levy of additional fees, MCA announced that no additional fees shall be levied Upto February 15, 2021, for the filing of all AOC-4 e-forms. The current article briefs the Relaxation of Additional Fee in Filing all AOC-4 e-form

The gist of MCA Notification

The Ministry of Corporate Affairs (MCA) has announced that no additional fees will be levied up to 15.02.2020 for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL and AOC-4 Non-XBRL in respect of the financial year ended on March 31, 2020.
During the third period, only normal fees shall be payable for the filing of the all AOC-4 e-forms.

MCA e-form AOC-4

As per Company Act 2013, all the registered Companies in India need to financial statements of a company with the Ministry of Corporate Affairs (MCA) every year. The MCA form for filing financial statements is formed AOC-4. The company is responsible for duly furnishing the form ACO-4 within 30 days of the company’s annual general meeting. Any failure or delay in filling the form may attract fine/penalties on the company.

Form AOC-4: For filing the financial statement and other documents (For FY start on or after 01.04.2014)
Form AOC4 - CFS: Form for filing statement containing salient features of consolidated financial statement of a group (For FY start on or after 01.04.2014)
Form AOC4 - XBRL: For filing extensible Business Reporting Language (XBRL) document in respect of financial statement and other documents (For FY start on or after 01.04.2014)

e-Form AOC-4-CFS

The Form AOC-4-CFS is for filing consolidated financial statements and other documents with the Registrar. Once financial statements are adopted then the company need to file the adopted consolidated financial statements via e-form AOC-4 CFS within 30 days of the Annual 2General Meeting.

e-Form AOC 4 - XBRL

The following companies are required to file AOC 4 XBRL (extensible business reporting language) with the registrar.

All companies listed with any stock exchange in India and their Indian subsidiaries.
All companies having paid-up capital of five crore rupees or above.
All companies with a turnover of 100 crore rupees or more.
All companies which are required to prepare their financial statements following Companies (Indian Accounting Standards) Rules, 2015.

Documents Required for eForm AOC-4

The following is the complete list of documents that must be filed with AOC-4:

Copy of financial statements duly authenticated as per section 134 (including Board’s report, auditors’ report and other documents)
Statement of subsidiaries as per section 129 – Form AOC-1
Statement of the fact and reasons for not adopting Financial statements in the annual general meeting (AGM)
Statement of the fact and reasons for not holding the AGM
Approval letter of extension of financial year or AGM
Supplementary or test audit report under section 143
Company CSR policy as per sub-section (4) of section 135
Details of other entity(s)
Details of salient features and justification for entering into contracts/Arrangements/transactions with related parties as per Sub-section (1) of section 188 – Form AOC-2
Details of comments of CAG of India
Secretarial Audit Report
Directors’ report as per sub-section (3) of section 134
Details of remaining CSR activities
Optional attachment(s), if any.

Due Date for Filing AOC-4

As per the Companies Act, 2013, all companies registered in India are required to file a copy of financial statements, duly adopted at the annual general meeting of the company, within thirty days of conducting an Annual General Meeting. Since One Person Company does not have an Annual General Meeting, One Person Company must file a copy of the financial statements duly adopted by its member, within 180 of the closure of the financial year. If the annual general meeting of a company for any year has not been held, the financial statements along with the documents required to be attached, duly signed along with the statement of facts and reasons for not holding the annual general meeting should be filed with the Registrar within 30 days of the last date before which the annual general meeting should have been held.

Fees for Filing AOC 4

The applicable fees based on the share capital are as follows:

Company’s Nominal Share Capital	Government Fee
Upto Rs.1 lakh	Rs.200 per document
Rs. 1 lakh to Rs. 5 lakhs	Rs.300 per document
Rs. 5 lakhs to Rs. 25 lakhs	Rs.400 per document
Rs. 25 lakhs to Rs. 1 crore	Rs.500 per document
Rs. 1 crore and more	Rs.600 per document

For companies not having a nominal share capital, the government fee for filing Form AOC-4 is Rs.200 per document.

Additional Fee Details

Following the table of additional fees shall be applicable for delays in filing of annual returns or balance sheet/financial statement under the Companies Act, 2013:

Sl. No.	Period of delay	Additional fee payable (in Rs.)
01	Delay beyond the period provided under Section 92(4) of the Act	Rs.100 day
02	Delay beyond the period provided under Section 137(1) of the Act	Rs.100 day

In addition to the above penalty, the Government fee for filing AOC-4 would also be increased as follows:

Number of Days Delayed	Penalty Amount for Late Filing
Up to 30 days	2 times of normal filing fees
More than 30 days and up to 60 days	4 times of normal filing fees
More than 60 days and up to 90 days	6 times of normal filing fees
More than 90 days and up to 180 days	10 times of normal filing fees
More than 180 days and up to 270 days	12 times of normal filing fees

As per the MCA’s notification, the company no need to pay the additional fee till February 25^th, 2021

Certifying Form AOC 4

The data presented in the form SOC- 4 needs approval from the director, manager, CFO and CEO. Given that the information is accurate and is in compliance with the Companies law. The e-form AOC 4 shall be digitally signed by one of the following authorized people:

Director
Manager
CFO
CEO

A statement confirming the authenticity of the information entered in the form is required by a full-time practice Chartered Accountant/Cost Accountant/ Company Secretary. The practising professional has to also state the membership number and the status i.e. fellow or associate.

Procedure for Filing of eForm AOC-4

The following steps can be used for filing the eForm AOC-4on MCA portal.

The applicant needs to access the official website of the Ministry of Corporate Affairs to file eForm AOC-4. By login into the portal, the applicant can upload the e-form AOC-4.

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After login to the portal, enter Enter a valid ‘Corporate identity number’ (CIN) for cancellation of unused issued Share of one class and increase in share capital.
Select the purpose of the eForm from the drop-down menu and in case of others selected, specify the entity in the description box

The following information to be furnished while filing Form AOC 4:

Segment I- Information and Particulars in respect of Balance sheet (Part A)
Segment I- Information and Particulars in respect of Balance sheet (Part B)
Segment II- Information and Particulars in respect of Profit & Loss Account
Segment III- Reporting of Corporate Social Responsibility
Segment IV- Disclosure about related party transactions
Segment V- Auditor’s Report
Segment VI- Miscellaneous

Declaration and Designation

Select any one of the options from the drop-down values for declaration and digitally sign the eForm AOC-4.

- In case the person digitally signing the eForm AOC-4 is a Director, approved DIN need to be provided.
- In case the person digitally signing the eForm AOC-4 is Manager, enter approved DIN or valid income-tax PAN.
- Membership number need to be filed, in case the person digitally signing the eForm AOC-4 is Company Secretary

Upload Documents

By clicking on the attach button, the required document can be uploaded and click on the pay the payment button for making fee.
On successful submission of the eForm AOC-4, the eForm will be processed by the office of Registrar of Companies.

SRN Generation

SRN will be generated and displayed to the applicant on successful submission of the eForm AOC-4. This SRN will be used for future correspondence with MCA.

Challan Generation

On successful submission, a challan will be generated depicting the details of the fees paid by the user to the Ministry. It is the acknowledgement to the applicant that the eForm AOC-4 has been filed.

Email

When the eForm AOC-4 is completely processed by the authority, an acknowledgement will be sent to the official mail of the company.

MCA Updates:

The MCA vide a Notification No. GSR 207 (E), Dated 24-03-2021 introduced an amendment in Schedule III of the Companies Act, 2013 whereby the companies were mandated to round off the figures appearing in the Financial Statements depending upon their total income. Now, the MCA has clarified that in case the companies provide an absolute figure in e-forms i.e. AOC-4, the same shall not be treated as an incorrect certification by the professionals.