Every Company registered under Companies Act, 2013 or Companies Act, 1956 is required to file their Financial Statements in e-Form AOC-4 including Directors Report along with other relevant attachments (ANNUAL REPORT) and Annual Return in e-Form MGT-7 within 30 days/60 days respectively from conclusion of its Annual General Meeting (AGM). Read the details below.
Form AOC-4
The financial statements of a company must be filed with the Ministry of Corporate Affairs every year. The MCA form for filing financial statements is AOC-4. Hence, Form AOC-4 is submitted with the MCA for each Financial Year within 30 days of a companys annual general meeting. Along with AOC-4 form, the documents such as Boards report, Auditors report, Statement of subsidiaries in Form AOC-1, details of CSR policy etc. are filed. AOC-4 must be certified by a practising Chartered Accountant or Company Secretary.
In case of the companies covered under XBRL requirement under the Companies (Filing of documents & Forms in Extensible Business Reporting Language) Rules, 2015, the financial statements must be uploaded on MCA portal in XBRL format. The following class of companies are required file their financial statements and other documents in e-Form AOC-4 XBRL on or after 1st April 2014:
- All companies listed with any Stock Exchange(s) in India & their Indian subsidiaries
- All companies having paid up capital of rupees five crore or above
- All companies having turnover of rupees hundred crore or above
- All companies which were hitherto covered under the companies (Filing of Documents & Forms in Extensible Business Reporting Language) Rules, 2011
Form MGT-7
Form MGT-7 must be filed by all companies registered in India every year. Form MGT-7 is the form for filing annual return by a company. The due date for filing MGT-7 is 60 days from date of Annual General Meeting.
The following documents must be filed with Form MGT-7
- List of shareholders, debenture holders would be mandatory in case of company having share capital.
- Approval letter for extension of AGM would be mandatory if AGM due date was extended.
- Copy of MGT-8 will be mandatory in case of a listed company or a company having paid up share capital of Ten Crore rupees or more or turnover of Fifty Crore rupees or more.
Penalty of Non – Filing
The penalty for not filing has been significantly increased in 2018 to Rs.100 per day of default. Hence, please ensure all MCA annual return or before due date at the earliest.
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