A company’s financial statement is the origin which helps the directors or the shareholders to check and evaluate the performance of a company. The root of communication between the Directors and the shareholders is due to the financial statements. Form AOC4 is the main source by which the company’s financial statements for each year is filled with the Registrar of Companies(ROC). The company is bound to furnish the form within 30 days of its Annual General Meeting.
Who is required to file the AOC 4 Form XBRL?
The companies required to file AOC 4 form XBRL for every financial year are:
- -The companies which are listed with any stock exchange in India along with Indian subsidiaries.
- -The companies with a capital investment up to 5 crores and above.
- -The companies having a turnover of 100 crores or more.
- -The companies which comes under the Companies Rules 2011.
The situation according to which Financial statement is filed with the Registrar:
According to the Companies Act 2013, the provisions are applied in a different situation while filing the financial statement with the ROC. In the following situation, the financial statement is filed within 30 days along with the fees/additional fees as per prescribed under Section 403:
- In case of the financial statement taken at the time of AGM along with consolidated financial statements and the documents attached to the same.
Note: In the case of OPC, the time period would be 180 days from the closure of the financial year.
- At the time of the adjourned meeting.
- At the time where the financial statement is not adopted.
Note: The financial statement including the documents will be considered to be provisional till the time the adopted financial statements are filed.
- At the time when AGM is not held.
Note: Reason for not holding the AGM and financial statements with the documents has to be filed in any such case.
Documents required with Form AOC 4:
- Balance sheet of the company along with its Notes.
- Statement of Cash Flow.
- Change in Equity Statement.
- Auditor’s Report.
- Reports from the Board.
- Reports of Corporate Social Responsibility. (If any)
- Subsidiaries Statement in Form AOC-1. (If any)
- Relevant documents. (If required)
Key Points for Filing Company Annual Return and Annual Account:
- An auditor must be appointed by the company who will be authorized to audit the financial statement of the company.
- The director is obliged to prepare a board report as per the Company Act.
- The Financial Statement and the Board report is supposed to be approved in a board meeting.
- Once the Annual General Meeting is over, the financial statement should be framed according to the conclusion made in AGM, as shareholder’s approval is must for accepting the financial statements.
Filing Fees for AOC 4 Form:
Fees structure for filing Form AOC 4 depends upon the capital investment of the company:
Share capital less than 1,00,000
Rs. 200 per document
Share Capital of 1,00,000 up to 4,99,999
Rs.300 per document
Share Capital of 5,00,000 up to 24,99,999
Rs.400 per document
Share Capital of 25,00,000 to 99,99,999
Rs.500 per document.
Share Capital of 1,00,00,000 or more
Rs.600 per document.
Penalties on Delay of E-Form AOC 4
As per Section 137(1) of the Act, the AOC should be filed within the thirty days date of annual general meeting, in case of any delay, the penalty of Rs. 100 will be charged per day till the date of filing.
Previously, in case of any delay, there was a penalty fee for late filing of Form AOC-A, therefore following fees is applicable:
- Delay up to 30 days — 2 times of normal filing fees will be charged.
- Delay of more than 30 days and up to 60 days— 4 times of normal filing fees will be charged.
- 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.
- Beyond 180 days—–12 times of normal filing fees.
Penalty for non-filing AOC 4:
Company— The penalty should be Rs.1000 for every day delay up to Rs.10 Lakhs and 1 lakh plus Rs.100 for each day of default subject to Rs. 5 lakh at max for the following cases.
- Managing Directors/ Chief Financial Officer.
- In case of the absence of the Managing Director/Chief Financial Officer–Any other Directors who the Board assigns the responsibility.
- In case of the absence of any such Directors-All directors of the company.