The company has to mandatorily file the financial statements to give the exact financial position of the company, to the shareholders. AOC-4 is used to file the financial statements for each financial year with the registrar of companies (ROC). If a company has its’ subsidiary company the company must file consolidated financial statements in the form AOC- 4 CFS.
- Who has to file AOC 4?
- Points to be remembered while filing AOC 4
- Certifying form AOC 4
- Fees for filing AOC 4
- Late fees on form AOC 4
- Penalty for non-filing AOC 4
Who has to file AOC 4?
The following companies are required to file AOC 4 XBRL (extensible business reporting language);
- All listed company’s
- All companies having,
- share capital of 5 cr. Or more
- turnover of 100 cr. Or more
- All companies covered under companies rule 2011
Points to be remembered while filing AOC 4
(PART-A)Information and particulars in respect of balance sheet
- CIN of the company
- On clicking the pre-fill button details of the company will be automatically filled.
- Enter the date of the financial year.
- Date of the board meeting.
- Date of AGM.
- Extension if any.
(PART-B)Information and particulars in respect of balance sheet
It consists of various details about the balance sheet and financial aspects.
- Reporting of corporate social responsibility.
As per section 135 of the companies act,2013 following companies has to comply with these provisions:
- All companies having;
- Net profit 5 cr. Or more, OR
- Share capital of 500 cr. Or more, OR
- Turnover of 1000 cr. Or more
has to make the expenditure of 2% of average net profit of the company for last 3 financial year.
- Disclosure of related party transactions
Particulars of contracts that the company entered contracts on Arm’s length basis.
- Auditor’s report
- In case of govt. the company, the regulations of CAG must be complied with as per section 143 of the company’s act, 2013.
- Details of remarks made by the auditor whether its-
Clear or Unqualified opinion, or
Qualified Opinion, or
Adverse Opinion,or
Disclaimer of Opinion,or
- applicability of CARO to the company has to be stated.
Certifying form AOC 4
A declaration has to be given by the director/manager/secretary/CEO/CFO certifying that all information provided is TRUE AND CORRECT and is in compliance with the law. The form has to be digitally signed along with the DIN of the director or PAN of the manager/CEO/CFO. A full-timepracticing-chartered accountant /cost accountant/company secretary has to provide a declaration stating he/she is verified all the documents attached and he/she certifies all information to be TRUE AND CORRECT and COMPLETE. The practicing professional has to also state the membership number and the status. i.e fellow or associate.
Fees for filing AOC 4
The applicable fees based on the share capital are as follows:
|
For the company not having share capital 200 per document will be the fees.
Late fees on form AOC 4
In case of delay in filing the annual returns/balance sheet/financial statement the following fees are inapplicable:
| Period of delay | Additional fee payable |
|
Delay beyond the period provided under section 137(1) of the act- due dates of file AOC 4 (within 30 days of the date of AGM) |
100 per day |
In case of delay in filing the belated annual returns/balance sheet/financial statement, the following fees are applicable.
| Period of delay |
Additional fee payable |
|
Up to 30 days |
2 times of normal filing fees |
|
More than 30 days and up to 60 days |
4 times normal filing fees |
|
More than 60 days and up to 90 days |
6 times normal filing fees |
|
More than 90 days and up to 180 |
10 times normal filing fees |
|
Beyond 180 days |
12 times normal filing fees |
Penalty for non-filing AOC 4
| penalty | |
| In the case of a company | 100 for every day of default subject to a max of 10 lakh. |
| In the case of;
· Managing director/CFO · In case of absence of MD/CFO or any other director |
1 lakh + 100 for every day of default subject to a max of 5 lakh. |
This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.
Posted by:
CS Neetu Saini
AKGVG & Associates