All About AOC-4 : Purpose, Format, Due Date as per companies act 2013

Every company needs to file its financial statements and mandatory attachments, via e-Form AOC4 within the prescribed time limit as per section 137.

It is a E Form filed with ROC through Electronic mode.

Lets Discuss Purpose, Format, Due Date of AOC-4 as per companies act 2013.

Who is required to file this Form

Every Company, public or private is required to file this form wherein Financial Statements and Director Report of a Company are uploaded with ROC.

Also Vide Notification dated 9th September, 2015, Ministry of Corporate Affairs has notified Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2015. As per the same, companies falling in the following categories will have to file their Financial Statements under section 137 of the Companies Act, 2013 using the XBRL for financial year commencing on or after 1st April, 2014:-

1. all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or
2. all companies having paid up capital of Rupees five crore and above; or
3. all companies having turnover of Rupees one hundred crore and above; or
4. all companies which were hitherto covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011:

However, companies in Banking, Insurance, Power Sector and Non-Banking Financial Companies are exempted from XBRL filing.

What is due date of filing AOC-4 for a company

Due date of filing AOC-4 for a company is 30 days from the date of Annual General Meeting of the company.

For Example if AGM of the Company has been held on 28th September 2019, Due date of AOC-4 would be 28th October 2019.

Also As per Company Law, Companies have to do there AGM on 30th Day of September under normal circumstances, therefore due date of filing AOC-4 is 30th October.

What if I dont File Form AOC-4 for my company

The penalty for not filing Form AOC-4 is Rs. 100 (Rupees Hundred) per day of default.

Also Director of a Defaulting Company can become disqualified, if this form is not filed for 3 consecutive years.

Thus timely filing of this form should be ensured.

What are the Details required for filing this form

a) General information of the company like it’s :

• Corporate Identity Number (CIN),
• Financial year to which financial statements relates,
• Details of AGM,
• Details of director(s), manager, secretary, CEO, CFO of the company who have signed the financial statements and Board Report,
• Details of Auditor and SRN of ADT-1 etc.

b) Balance Sheet

c) Detailed Balance sheet items (Amount in Rupees)

d) Financial parameters Balance sheet items (Amount in Rupees) as on financial year end date

e) Share capital raised during the reporting period (Amount in Rupees)

f) Details related to cost records and cost audit

g) Statement of Profit and Loss

h) Financial parameters Profit and loss account items (amount in Rupees) during the reporting period

i) Details related to principal products or services of the company

j) REPORTING OF CORPORATE SOCIAL RESPONSIBILITY

k) DISCLOSURE ABOUT RELATED PARTY TRANSACTIONS

What are the Attachment required to file the Form

1. Financial statements duly authenticated as per section 134 (including Boards report, auditors report and other documents.
2. Statement of subsidiaries as required under section 129 in the format of Form AOC-1 prescribed under the Companies (Accounts) Rules, 2014
3. Statement of the fact and reasons for not adopting balance sheet in the annual general meeting (AGM) This attachment is mandatory if provisional unadopted financial statements are being filed
4. Statement of the fact and reasons for not holding the AGM – This attachment is mandatory if AGM was not held
5. Approval letter of extension of financial year or AGM – This attachment is mandatory if any extension has been granted for AGM or financial year
6. Supplementary or test audit report under section 143 – This attachment is mandatory if CAG of India had conducted supplementary or test audit under section 143
7. Company CSR policy as per sub-section (4) of section 135
8. Details of other entity(ies): This attachment is mandatory in case any amount of CSR is spent not directly by company. Details of all such implementing agencies should be attached in that case.
9. Details of salient features and justification for entering into contracts/ arrangements/transactions with related parties as per sub-section (1) of section 188 – Form AOC-2
10. Details of comments of CAG of India – It is mandatory if C&AG of India had conducted supplementary or test audit under section 143
11. Secretarial Audit Report – This attachment is mandatory if Secretarial Audit was applicable
12. Directors report as per sub-section (3) of section 134
13. Details of remaining CSR activities: Details of CSR programmes/projects/activities not mentioned in e-form is mandatory to attach in excel sheet.

Form Where Can I download Form AOC-4

Link for downloading Form AOC-4 is Given below:

Link

Do we need CS/CA Certification while filing Form AOC-4

Yes, This eform needs to be verified by a practicing professional. The Professional can be CA or CS.

Usually it’s better that a Auditor should certify this form as he has good knowledge of Financials the Company.

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