The Ministry of Corporate Affairs has stated concerning the relaxation on levying of the additional fees relating to the filing of e-forms, which includes AOC-4, AOC-4 (CFS). AOC-4 XBRL and, AOC-4 Non-XBRL for the fiscal year that ended on 31st March 2020, under the Companies Act, 2013.
The government had received requests from stakeholders relating to the relaxation on levying of additional fees for annual financial statement filings which were needed to be completed for the financial year that ended on 31st March 2020.
Thus, the Ministry of Corporate Affairs had decided that no additional fees would be imposed up to 15th February 2021 relating to the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL as well as AOC-4 Non-XBRL with regard to the fiscal year that ended on 31st March 2020.
The government had stated that during the said period, only normal fees are required to be payable for the filing of the aforesaid e-forms.
What is AOC 4 Form in MCA?
Form AOC 4 is required for filing the financial statement of a company for every financial year with the Registrar of Companies. The company is accountable for duly providing the form within 30 days of its Annual General Meeting.
Form AOC 4 is generally utilized towards filling the financial statements for every financial year with the Registrar of Companies (ROC). In the event of consolidated financial statements, the company would file the AOC 4 CFS.
Who is required to File AOC 4 Form XBRL?
There are some parameters relating to the applicability of filing a financial statement in XBRL-format. The list of corporations who are needed towards filing AOC 4 form XBRL for each financial year are:
• The corporations who have paid capital of Rs. 5 Crores or above.
• Corporations with an annual turnover of Rs 100 Crores or above.
• Corporations who are listed with the stock exchange in India as well as its subsidiaries.
Penalties relating to the delay of E-Form AOC 4
Defaulting Party | Penalty Levied |
Company | Rs 1000 for every day of default subject to |
1. Managing Director/Chief Financial Officer 2. For the absence of the Managing Director/Chief Financial Officer-any other Director towards whom the Board assigns the responsibility. 3. For the absence of any such Director-All directors of the corporation | Rs 1 Lakh |
Certifying Form AOC 4
A declaration must be given by the Director/Manager/Secretary/CEO/CFO confirming that every piece of information furnished in the form is accurate and correct and is in compliance with the law. The form needs to be digitally signed together with the DIN of the director or PAN of the Manager/CEO/CFO. A practicing Chartered Accountant/Cost Accountant/ Company Secretary is required to provide a declaration stating he/she has confirmed all the documents attached and he/she certifies every of the information to be accurate, correct as well as complete. The specialized professional is also required to declare the membership number, as well as the status that, is fellow or associate.
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