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In India, all companies registered under the Companies Act 2013 or 1956 are required to file Annual return with Ministry of Corporate Affairs. The Annual Return comprises of various documents and information of the Company i.e.
In this blog, we will discuss the Financial Statement filing and criteria required while filing the Financial statement of the Company.
Financial Statement is a statement that reflects the accountability of the company. The financial statement is a source of communication between the entity and shareholders. For filing financial statements form AOC-4 is required to be filed for each financial year with the Registrar of the Companies. Financial Statement includes –
The applicability of Financial Statement shall not apply to-
Due Date for filing financial Statement-
The following provisions along with the due date are applicable for filing the financial statement with the Roc-
Case I-Financial statement adopted at the AGM along with the consolidated financial statements and documents which are attached to the financial statements.
Due Date-Due date for filing-Within 30 days of the annual general meeting along with the fees.
However, in the case of OPC, the time period shall be taken as 180 days from the closure of the financial year.
Case II–In the case of an adjourned meeting-
Due Date-Within 30 days of the adjourned annual general meeting along with fees/additional fees as prescribed.
Case III- If financial statements are unadopted
Case IV-If AGM is not held
The financial statements, along with the documents and the reason for not holding the AGM, have to be held.
Key segments of Financial statement Filing-The following key points in the segment is required to be mentioned-
Segment Part I-Information in respect of Balance sheet
Segment II-Specification in respect of Profit and loss account are required to be fulfilled.
Segment III-Specification of CSR Policy (IF APPLICABLE)-
Segment IV-Divulgence about the Related party transaction and particulars of the transaction/ contracts entered on arm’s length price.
Segment V-Particulars of the Auditor’s Report and applicability of the Secretarial Audit.
Certification in the form of the declaration has to be given by the
Conclusively, Every Company incorporated under the Companies Act 1956 or Companies Act 2013 is necessitated to file the financial statement in FORM AOC-4, which also encompass the Director’s Report along with necessary documents. Additionally, an Annual Return is also required to be filed to the ROC in FORM MGT-7 within 30 days from the peroration of the Annual General meeting.
In case of a listed company, the annual return shall be certified by the Company Secretary of the Company in the FORM MGT-8
Also, Read: Key Elements of Financial Statements.
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