E-forms are proof of accountability for companies. The channel of communication between the board of directors and the shareholders is the Financial Statements. Form AOC-4 is used by the companies to file with the Registrar of Companies (ROC) their financial statements for each financial year. Companies registered with any stock exchanges in India along with their subsidiaries, companies with a capital of 5 crores or more, companies with a turnover of 100 crores or more, and companies that come under the purview of the Companies Rules,2011 are eligible to file AOC.
MGT 7 is another such e-form that is provided to all the registered companies by the Ministry of Corporate Affairs, for filling in details of annual returns. This is utilized by the registrar of companies to maintain e-form via electronic mode. Every company, irrespective of being private or public has to file the MGT-7 Form, failure of which would attract a penalty of Rs.100 per day as default. The penalty has been revised in 2018.
On account of repeated requests of stakeholders, regarding relaxation on levy of additional fees for annual financial statement filings for the financial year ending on 31/02/2021, it had been decided by the Ministry of Corporate Affairs, through general circular No.17/2021 on 29 October 2021, that no extra fees will be charged up to 31/12/2021 for filing of e-forms AOC-4, AOC-4 (CFS), AOC-XBRL, AOC-4 Non-XBRL and MGT-7A with regards to the financial year ending on 31/03/2021.
The government of India, through the department of the Ministry of Corporate Affairs, has released general circular 22/2021 on 29 December 2021 regarding the relaxation of levy of additional fees in the e-form filing of AOC-4, AOC-4 XBRL, AOC-4 (CFS), AOC-4 Non-XBRL and MGT-7/MGT-7 A for the financial year ending on 31/03/2021 under the Companies Act,2013.
Keeping in consideration, the Ministry’s General Circular No.17/2021 dated 29/10/21 and the requests from stakeholders with respect to the reduction of levy of additional fees for annual financial statement/return filings which are required to be done for the financial year ending on 31/03/21.
Furthermore, it has been decided that no extra fees shall be charged up to 15/02/22 for the filing of e-forms AOC-4, AOC-4 XBRL, AOC-4 (CFS), AOC-4 Non-XBRL and up to 28/02/22 for filing of e-forms MGT-7/MGT-7A with regards to the financial year ending on 31/03/21 respectively. During the above-mentioned period, only normal fees shall be payable for the filing of the above-mentioned e-forms.
eStartIndia will help you with the annual compliances of your company from the comfort of your home without any hassle at an affordable cost.
Get free expert advice with a simple sign-up with us!
Author:
Leave a Comment
Previous Comments