All the firms enrolled under the Companies Act 2013 or previous acts are required to furnish the yearly return through the Ministry of Corporate Affairs. The forms to furnish the yearly return are prescribed under sections 137 and 92, respectively, of the Companies Act 2013.
Annual Filing AOC-4, AOC-4 XBRL, AOC-4CFS & AOC-4 NBFC Forms
Beneath section 137 of the Companies Act 2013, companies are required to furnish their audited financial statement in Form AOC-4 within 30 days of the annual general meeting of the company. There are various forms as prescribed for distinct classes of companies. Indeed, the below-mentioned class of companies are needed to furnish their financials in extensible business reporting language (XBRL).
| Sr. No | Company Type |
|---|---|
| 1 | “Companies listed with stock exchanges in India and their Indian subsidiaries” |
| 2 | “Companies having paid-up capital of five crore rupees or above” |
| 3 | “Companies having a turnover of one hundred crore rupees or above” |
| 4 | The firms which are needed to prepare the financial statements under the Companies (Indian Accounting Standards) Rules, 2015 |
But the below-mentioned companies are privileged from furnishing the financial statements in XBRL:
- Non-banking financial companies,
- Housing finance companies
- Banking Companies
- Insurance Companies
Further, One person company is needed to furnish a copy of the financial statements within 180 days from the closure of the fiscal year.
Some Essentials Attachment to Form AOC-4
- “Statement of the fact and reasons for not adopting the balance sheet in the annual general meeting (AGM) – [if provisional unadopted financial statements are being filed]”
- “Statement of the fact and reasons for not holding the AGM – [if AGM was not held]”
- “Approval letter of extension of the financial year or AGM – [if any extension has been granted for AGM or financial year]”
- “Supplementary or test audit report under section 143 – [if CAG of India had conducted supplementary or test audit under section 143 ]”
- “Company CSR policy as per sub-section (4) of section 135”
- “Details of other entities(ies): [in case any amount of CSR is spent not directly by the company. Details of all such implementing agencies should be attached]”
- “Details of comments of CAG of India – [if C&AG of India had conducted supplementary or test audit under section 143]”
- “Secretarial Audit Report – [if Secretarial Audit was applicable]”
- “Directors’ report as per sub-section (3) of section 134 – [if the same was mentioned in the Segment VI of the reform]”
- “Details of remaining CSR activities: Details of CSR programmes/projects/activities not mentioned in the e-form are mandatory to attach in an Excel sheet.”
- “Optional attachments (s)- if any”
- The company possesses one or exceeding subsidiaries/associates/Joint ventures that have to furnish, along with Form AOC-4, a consolidated financial statement of the firm, in addition to that of the subsidiaries in Form AOC-4CFS.
- Every NBFC firm comes under the Companies (Indian accounting standards) (amendments) rules 2016, where the Indian accounting standards apply to furnish the financial statements consisting of the consolidated financial statements and essential attachments through e-form AOC-4 NBFC (Ind AS) within 30 days of AGM.
Filing Fees of AOC 4 Form
| S.no | Share Capital of Nominal | Fee Applicable |
|---|---|---|
| 1 | Less than 1,00,000 | Per Document INR 200 |
| 2 | 1,00,000 to 4,99,999 | Per Document INR 300 |
| 3 | 5,00,000 to 24,99,999 | Per Document INR 400 |
| 4 | 25,00,000 to 99,99,999 | Per Document INR 500 |
| 5 | 1,00,00,000 or more | Per Document INR 600 |
The Signing of AOC-4 e-Form Under MCA
Prior to furnishing on the MCA website, the e-form AOC-4 needs to be signed in the digital method through any of the key managerial personnel of the firm:
- Director
- Manager
- Managing Director
- Secretary
- CEO
- CFO
- Interim Resolution Professional (IRP)
- Resolution Professional (RP)
- You must know that the e-form is digitally signed by the Director/Manager/ Managing Director/Secretary/CEO/CFO/ Interim Resolution Professional (IRP)/ Resolution Professional (RP)
Professional Practising Certification (Except for Small Company)
The e-form AOC-4 requires to be certified through any of the mentioned practising professionals:
- Chartered Accountant (in whole-time practice)
- Cost Accountant (in whole-time practice)
- Company secretary (in whole-time practice)
MCA Form MGT-7
Along with the Form AOC-4 firms, it needs to furnish the yearly return inside Form MGT-7/MGT-7A. There are various firms that want to furnish the yearly return within 60 days of the AGM. Indeed, from FY 2020-2021, the commencement of the firms (management and administration) revision rules 2021, one-person company and small companies is required to furnish the yearly return in Form MGT-7A.
Certificate Through the Company Secretary in Practice
The mentioned class firms are needed to obtain the certificate in Form MGT-8:
- a listed company or
- a company having paid-up share capital of ten crore rupees or more or
- a company having a turnover of fifty crore rupees or more,
Obligatory Attachments to Form MGT-7/MGT-7A
- List of Debenture holders and Shareholders
- “Approval letter for extension of AGM (if the extension is sought for conducting an AGM)”
- “Copy of MGT-8 (if applicable), then it is also Optional.”
- “Photograph of the registered office of the Company showing the external building and the name clearly visible.”
Filing Fees for MGT 7 Form
| S.no | Nominal Share Capital | Fee applicable |
|---|---|---|
| 1 | Less than 1,00,000 | INR 200 Per Document |
| 2 | 1,00,000 to 4,99,999 | INR 300 Per Document |
| 3 | 5,00,000 to 24,99,999 | INR 400 Per Document |
| 4 | 25,00,000 to 99,99,999 | INR 500 Per Document |
| 5 | 1,00,00,000 or more | INR 600 Per Document |
The Signing of MGT-7 e-Form Under MCA
Prior to furnishing the MCA website, the e-Form MGT-7 and MGT-7A need to be digitally signed through any director of the firm.
Certification of the practising professional (excluding the small company/OPC, a company having a company secretary in employment).
The e-form requires to be certified through any of the following practising professionals:
- “Company secretary (in whole-time practice)”
