The concept of producer company has been introduced to organize the agriculture-related actives...
As per Companies Act, 2013 it is necessary for every company to file annual accounts and annual returns within 30 days and 60 days respectively from the conclusion of Annual General Meeting.
The financial statements of the company must be filled with the registrar of the company every year. If a company fails to file these financial statements within the stipulated period, it will be liable for a penalty or additional fees.
The procedure for filing of annual return and annual accounts are as follows:
AOC-4 has to be filled by every company within 30 days from the conclusion of the Annual General Meeting with Ministry of corporate affairs. The form AOC-4 has to be uploaded along with Board’s report, Auditor’s report and other mandatory documents as per company’s business activity. Every Form AOC-4 has to be certified by Practicing Chartered Accountant or Company Secretary.
The requirements of documents for filling form AOC 4 depends on the business activity and compliances involved. Generally, financial statement of a company includes Balance Sheet, Profit and Loss Account, Cash flow statement (if applicable) and explanatory notes annexed to the financial statement. Following documents need to be filled with Form AOC-4.
Financial statements of a company should be filed within 30 days of the conclusion of Annual General Meeting with MCA. The Form needs to be uploaded along with necessary documents and signature as per Company Act 2013.
The Companies which falls under XBRL requirements have to file the financial statement on MCA portal in XBRL format. The criteria for XBRL Filing for companies are:
Every company incorporated under Company Act 2013 have to file the financial statement within 30 days of the conclusion of Annual General Meeting. However, In One Person Company where it is not mandatory to hold the Annual General Meeting, must file the financial statements within 180 days of closure of financial year.
If the Annual General Meeting is not held by the company, then the statement and reason for not holding the General Meeting should be filed within 30 days the meeting ought to be held.
Fees for the filing of form AOC-4 is based on companies share capital. Below is the fee structure as per the share capital of the company.
NOMINAL SHARE CAPITAL
|Less than 1,00,000||Rs.200 Per Form|
|1,00,000 to 4,99,999||Rs.300 Per Form|
|5,00,000 to 24,99,999||Rs.400 Per Form|
|25,00,000 to 99,99,9999||Rs.500 Per Form|
|1,00,00,000 and More||Rs.600 Per Form|
Penalties for late filing of form AOC-4 is as follows:
Number of Days Delayed
Penalty Amount for Late Filing
|Up to 30 days||2 times of normal filing fees|
|30 days to 60 days||4 times of normal filing fees|
|60 days to 90 days||6 times of normal filing fees|
|90 days to 180 days||10 times of normal filing fees|
|180 days to 270 days||12 times of normal filing fees|