All the companies whether Private company, Public company, Nidhi company, One person company and the companies which are registered under companies Act 2013 need compliances.
The companies are required to file the form AOC 4 as it is mandatory for the body corporate to provide their accountability to all the shareholders by way of the financial statement which includes balance sheet, Profit and loss account, directors report, auditors reports as per the due date of the filing of AOC 4 as per the law. The financial accountability is the statement which makes the clear communication between about the company between the company and the shareholders/members.
The form AOC 4 is required to be filed to the Registrar of companies along with the true and fair financial statement of the company. In case of consolidated financial statement which is filed to the Registrar of companies in the particular year, the companies will file the AOC 4 CFS.
Companies who will file XBRL AOC 4
The following are the companies who are required to file AOC 4 in XBRL format are:
1. All the companies which are listed on stock exchange along with their subsidiaries.
2. All the companies having the capital 5 crore or more.
3. All the companies who are governed under the companies Rules 2011
4. All the companies having the annual turnover 100 crore or more.
Documents required filing AOC 4
The additional documents required to filed with the AOC 4
1. Directors Report
2. Auditors Report
3. CSR policy details
4. Subsidiaries statement in AOC 1 form
Certification in the form AOC 4
Declaration has to be provided by the directors, manager, secretary, CEO, CFO certifying that all the statement information provided in the AOC 4 is true and correct and all the compliances is made according to the law. The AOC 4 form has to be digitally signed by the directors of the company along with the DIN of the director.
A full time practising company secretary, cost accountant, chartered accountant also states that the declaration that he/she has verified all the information documents attached in AOC 4 form are true and correct to the belief along with the membership number whether associate or fellow.
Late fees on the filling of form AOC 4
1. If the AOC 4 is not filed within 30 days of the date of annual general meeting then Rupees 100 per day.
2. In case of delay in filling belated financials then the late fees applicable as:
a) 2 times of normal filing fees up to 30 days
b) 4 times of normal filling fees 30 days or more and up to 60 days
c) 6 times of normal filling fees 60 days or more and up to 90 days
d) 10 times of normal filling fees 90 days or more and up to 180 days
e) 12 times of normal filling fees 180 days or more.
Direction for filling company annual return and annual account
1. The company must appoint the auditor for the audit of financials of the company.
2. Directors reports have to be prepared with the help of other key managerial persons.
3. The board meeting has to be held for the authorisation of board report and the financial statement and the same has to be approved in the board meeting.
4. The financial statement shall be made after the conclusion of the AGM i.e. Annual General Meeting, after the approval of shareholders in the financial statement.
Points to be remembered while doing annual Roc compliances
1. Notice of Board Meeting should be sent to all the directors at least 7 days before the meeting and greeting for the same should be taken.
2. According to the law provided under section 134 of the companies Act, 2013 all the financials of the company including the consolidated financial, if any, should be signed by the chairman of the company on behalf of the Board of directors who is authorised by the Board and should be signed by the any of the two directors out of which one should be managing director and CEO i.e. Chief Executive Officer, the CFO i.e. Chief Financial Officer and the CS i,e, Company secretary of the company. In case of One Person company, financial shall be signed by only one director.
3. At least 21 days clear notice of the Annual general meeting should be given to all the shareholders, legal heirs of the deceased member, auditor, and all the directors of the company through physical or electronic mode. The notice of the annual general meeting should contains the location map where the general meeting will conduct and the same should also be placed on the website of the company if any.
4. Book of accounts shall be prepared by the company and the same should be kept at the registered office of the company. If the company wants to keep the book of accounts at some other place, for the same company will have to file AOC 5 to the Registrar of companies by passing the Board Resolution.
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