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Read About the Components of Financial Statement Filing



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.

  • Filing Financial Statement, I.e. Balance sheet, Profit and Loss Account.
  • Particulars of the shareholder and shareholding pattern,
  • Detail of registered address and disclosure in case of a change in the registered address.
  • Disclosure of Shares and Debentures.
  • Directorship Details and disclosure in case of any change.

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 –

  • Balance Sheet,
  • Profit and Loss Account,
  • Explanatory note annexed to the above document.
NOTE: Form AOC-4: For filing a financial statement and other documents (For FY start on or after 01.04.2014)
Form AOC4- CFS: Form for filing statement containing salient features of consolidated financial statement of a group (For FY start on or after 01.04.2014)
Form AOC4-XBRL: For filing XBRL document in respect of financial statement and other documents (For FY start on or after 01.04.2014)

Criteria for filing Financial Statement-

  1. The financial statement shall reflect the true and fair view of the state of affairs of the company.
  2.  It shall comply with the accounting standards. However, In the case where the financial statement does not comply with the accounting standards, the company shall disclose them in its financial statements the below-mentioned points-
  3. Deviation of the accounting standards.
  4. Reason for the accounting standards.
  5. Financial effects arising out of such deviations.
  6. The financial statement shall be in the form as may be prescribed for different classes of companies in Schedule III.

Non-Applicability of Financial Statement-

The applicability of Financial Statement shall not apply to-

  • Insurance Company,
  • Banking Company,
  • Engagement of the company in the generation or supply of electricity,
  • Any other class of company for which a form of financial statement has been specified in the Act governing the class of company.

Applicability of AOC-4 XBRL filing in Financial Statement-

  • Companies listed with the stock exchange in India and their Indian subsidiaries.
  • Companies having a capital of 5 crores or above.
  • Companies having a turnover of 100 crores or more.
  • Companies which necessitate preparing their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015
  • Note-However, the companies under the Companies (Accounting Standards) Rules, 2006 preparing their financial statements shall file the statements using the Taxonomy provided in Annexure-II and
  • Companies under Companies (Indian Accounting Standards) Rules, 2015, preparing their financial statements shall file the statements using the Taxonomy provided in Annexure-II A.

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 IIIn 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

Note- Due Date within 30 days of the Annual General Meeting. The financial statements, along with the documents, will be considered provisional until the time the adopted financial statements are filed.

Case IV-If AGM is not held

Note- Within 30 days from the date when the AGM should have been held along with fees/additional fees as prescribed.

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

  • Corporate Identification Number.
  • The name, registered office, email ID and date of incorporation will be automatically filled on clicking the pre-fill button.
Note- In case of a change in the email ID then the same can be updated. The authorized capital and the number of members as on the date of filing will also be pre-filled.
  • The Start date and end date of the financial year are to be entered.
  • Details of the date of the Board of Directors’ meeting in which the financial statements and Boards’ reports are approved along with the details of the signing of reports on the financial statements by the auditors.
  • Particulars of whether the Annual General Meeting was held and if yes date of AGM shall be entered.
  • Particulars of the auditor/auditor’s firm along with the membership number of the auditor/ firm’s registration number.
  • Particulars related to the applicability of consolidated financial statements and the maintaining of books in the electronic form needs.
  • Financial specification of the 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)-

  • Applicability of CSR ALONG with the threshold limit of CSR.
  • Prescribed CSR expenditure percentage should be mentioned, and the details regarding the specified activity have to be mentioned in the format as specified.

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 of the financial statement Filing-

 Certification in the form of the declaration has to be given by the

  • Director/or
  • Manager/or
  • Secretary/or
  • CEO/CFO certifying that all information provided in the form is true and correct the is in proper compliance with the law.
  • Further, the form has to be digitally signed along with the DIN of the director or PAN of the Manager/CEO/CFO.
  • A full-time PCA/Cost Accountant/ Company Secretary has to provide a declaration stating he/she has verified all the documents attached and also certifies that all the information to be true, correct and complete.

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

Priyanka Bajpayee

Priyanka Bajpayee has done Masters in International Business Law and well versed in content writing covering the area of legal and finance. Also, she has practical experience of almost 1.5 years in Legal compliance and secretarial work.

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