RECENT UPDATE
AS PER THE GENERAL CIRCULAR NO. 22/2021, DATED: 29 DECEMBER 2021 MINISTRY OF COMMERCE AFFAIRS GAVE A RELAXATION IN FILING OF E- FORMS - AOC- 4, AOC-4 (CFS), AOC-4 XBRL AOC-4 Non-XBRL TILL (15th FEB. 2022 ), AND MGT-7 / MGT-7A till ( 28th FEB 2022) FOR THE FINANCIAL YEAR ENDED ON 31ST MARCH 2021.
As Per The Guidelines Which Needs to Follow While Filing AOC 4 Form
According to Company Act 2013, all the registered Companies in India need to furnish Form AOC 4 at the end of every particular financial year. If there is any delay or any failure in filling the form may attract additional fees/penalties on the company here is the new circular for relaxation in that additional fees,
RELAXATION IN LEVY OF ADDITIONAL FEE OR PENALTY:
It will be a big update for all the consultants, accountant's carted accountants, cost accounted and for all practitioners those who are worried to give additional fees or penalty for not filing of ROC on the due date because, As, on 29 December 2021 the Ministry of Corporate Affairs (MCA) has announced the relaxation in levy of additional fees in the filing of ROC for the financial year ended on 31st March 2021 under the Companies Act 2013, means it has been further decided that if you will file ROC till the new decided due dates you do not need to give additional fees or any penalty.
NOTE: THESE DATES ARE FOR FILING OF ROC NOT FOR INCOME TAX-DATE STILL IS 31st DECEMBER. & FOR LLPs FILING DATE STILL IS 30th DECEMBER.
WHAT IS E- FORM AOC?
Financial statements of a company or LLP (limited liability partnership) are the important source on the basis of which the Board of Directors and shareholders can easily evaluate the performance of a corporation in a particular financial year.
Form AOC 4 basically is an e- form for filing the company’s financial statement for every financial year with the Registrar of Companies and it is mandatory for every financial year. The corporation or company is responsible for duly furnishing the form within 30 days of the (AGM) Annual General Meeting of the particular company.
WHAT OTHER ATTACHMENTS ARE NEEDED WITH THE AOC 4?
As per the definition given under section 2(40) of the companies act 2013,
financial statement includes --
Balance sheet,
Profit and loss account, or in case of a company as defined under sec 8 of companies act 2013 carrying on any activity not for profit then in that case you need to attach --- an income and expenditure account for the financial year;
Cash flow statement, for the financial year- NOTE--( Cash flow statement not needed in case of various other companies like small companies, government companies or for one person company, startup companies, etc)
A statement of changes -- If any change in EQUITY (if any)
Explanatory note annexed to, with reference to any other attachments. from (i) to (v)
CSR( Corporate Social Responsibility Report) (if any)
EXTENDED FILING DATE NOW FOR AOC-4: 15th FEB 2022
WHAT IS E- FORM MGT-7 & MGT-7A?
For all the registered companies in India, it is mandatory to file an annual return every year with the Registrar of the company as on the last day of the financial year i.e 31st March. This annual return includes all the basic information related to the company which may be -- its shareholders, directors, etc. It is mandatory for all registered companies in India to comply with the guidelines & file the annual return in Form MGT-7which is an electronic form .
This form needs to be properly maintained by the Registrar of Companies by the electronic method by following the guidelines of MCA & on basis of the statement of correctness given by the company.
WHAT OTHER ATTACHMENTS ARE NEEDED WITH THE MGT 7?
E-form MGT7 &MGTA7 needs some important attachments. This will be needed at the end of the MGT form. The attachments include are,
Approval for extension of AMG,
List of debenture holders and shareholders,
Copy of MGT- 8,
Other attachments ( if any )
PURPOSE OF THE E- FORM MGT- 7?
Every company needs to prepare an annual return in e- form MGT-7 which include various important details of the company are as follows,
The debentures, shares, and other securities and the pattern of shareholding of the company.
The registered office of the company,
The principal business activities,
The particulars of companies holding,
subsidiary and associate companies of the particular corporation; (if any)
Indebtedness of the company at the end of the particular financial year, etc
EXTENDED FILING DATE NOW FOR MGT7 & MGT7A: 28th FEB 2022
CONCLUSION:
As the dates are extended and relaxation is given by MINISTRY OF CORPORATE AFFAIRS in levy of additional fees or penalty in the filing of AOC4 & MGT7 for the financial year ended on 31st MARCH 2021, here all the corporate practitioners got time to file roc WITHOUT PAYING PENALTY or any ADDITIONAL FEES.
eStartIndia will help you with the annual compliances of your company from the comfort of your home without any hassle at an affordable cost.
Get free expert advice with a simple sign-up with us!
Author:
Leave a Comment
Previous Comments