AOC-4 Filing

What is AOC-4 Filing?

The financial statements of a company must be submitted annually to the Ministry of Corporate Affairs. The MCA form for the presentation of financial statements is AOC-4. Therefore, the AOC-4 form is submitted with the MCA for each financial year within 30 days after the annual general meeting of the company. Along with the AOC-4 form, documents such as the Board’s report, the report of the Auditors, the Declaration of the subsidiaries in Form AOC-1, the details of the CSR policy, etc. are filed. AOC-4 must be certified by an authorized accountant or company secretary. In this article, we observe the procedure to present AOC-4 in detail.

Documents to be archived in AOC-4

The financial statements of a company include the balance sheet, the profit and loss account, the statement of cash flows (if applicable), the statement of changes in equity (if applicable) and any explanatory notes attached to the financial statements. The financial statements together with the Board Report must be presented for all companies registered in India (Limited Liability Company, One Person Company, Section 8 Company, etc.) to provide Shareholders, the Government, the parties interested parties and the public a broad financial overview of the company’s business during an exercise.

The following is the complete list of documents that must be filed with AOC-4:

  • Copy of the financial statements duly authenticated according to section 134 (including the report of the Board, the report of the auditors and other documents)
  • Declaration of subsidiaries according to section 129 – Form AOC-1
  • Statement of fact and reasons for not adopting the financial statements at the annual general meeting (AGM)
  • Statement of the fact and reasons for not holding the General Meeting.
  • Approval of the extension letter of the year or general meeting.
  • Complementary or test audit report under section 143
  • CSR policy of the company according to subsection (4) of section 135
  • Details of other entity (s)
  • Details of the salient features and justification for entering into contracts/agreements/transactions with
  • related parties under subsection (1) of section 188 – Form AOC-2
  • Details of the comments of the CAG of India.
  • Secretariat Audit Report
  • Report of the directors according to subsection (3) of section 134
  • Details of the remaining CSR activities
  • Optional attachments, if any.

Presentation of form AOC-4

The financial statements of a company must be submitted to the Registrar along with Form AOC-4 every year for each financial year. All annexes, including the financial statements loaded with Form AOC-4, must be signed in accordance with the requirement of the Companies Act 2013. No copies of SD are accepted in the case of AOC-4, only copies are accepted signed by hand.

In the case of companies covered under the XBRL requirement under the Companies Rules (Presentation of documents and forms in Extensible Business Reporting Language), 2015, the financial statements must be uploaded to the MCA portal in XBRL format. The following class of companies must submit their financial statements and other documents in the electronic form AOC-4 XBRL as of April 1, 2014:

  • All listed companies in India and its Indian subsidiaries
  • All companies that have paid capital of Rs of five million rupees or more
  • All companies that have a turnover of one hundred years or more.
  • All the companies that until now were covered by the Rules of the companies (presentation of documents and forms in Extensible Business Reporting Language), 2011

The due date for the presentation of AOC-4

All companies registered in India are required by the Companies Act 2013 to submit a copy of the financial statements, including all documents that must be attached, duly adopted at the annual general meeting of the company, within thirty days of having held an annual general meeting. Since One Person Company does not have an Annual General Meeting, One Person Company must present a copy of the financial statements duly adopted by its member, within 180 days of the close of the fiscal year.

If the annual general meeting of a company has not been held for one year, the financial statements together with the documents to be attached, duly signed together with the statement of the facts and the reasons why the annual general meeting is not held , must be filed with the Registrar within 30 days of the last date before which the annual general meeting should have been held.

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Clarification in ROC

Frequently Asked Questions on ROC

  • Is return filing with ROC not same as income tax return?

    Income tax return is submitted to the Income Tax department whereas ROC returns are filed with the Ministry of Corporate Affairs (MCA) with whom the company is registered. It is mandatory to file the prescribed ROC forms and other returns on annual basis.

  • I am sole director of a One Person Company. What are the applicable Annual return forms and their due dates?

    • Form MGT 7 is used to file Annual Return. The due date is May 30.
    • Form AOC 4 is used to file Annual Accounts. The due date is 180 days from the end of Financial Year(FY)

  • What are the Annual return forms and their due dates for private limited companies other than One Person Companies?

    • Form MGT 7 is used to file Annual Return. The due date is 60 days from the conclusion of Annual General Meeting(AGM).
    • Form AOC 4 is used to file Annual Accounts. The due date is 30 days from the end of Financial Year(FY)

  • Our firm is registered as a Limited Liability Partnership Firm. What are the annual returns to be filed with MCA and what are their due dates?

    For LLPs, the due date of return filing is 60 days from the end of financial year i.e 31st May of the assessment year. For form 8(Statement of solvency) the due date is 30th October.

  • What other returns are to be filed with MCA?

    Other returns include: *ADT 1 -for the appointment of auditor *CRA 4 -for Cost Audit Report(if applicable) Following events also require filing with MCA:

    • Change in name
    • Change in registered office
    • Change in board composition(e.g. appointment of the director)
    • Alteration of share capital
    • For creation/modification/satisfaction of charge

    The same plan can be bought as per the requirement. Our experts shall guide you on the compliance requirement.

  • What are the consequences of not filing the forms?

    • If the LLP annual return form is not filed within the due date, then a penalty of Rs.100 per day is applicable until the default continues. There is no limit on the maximum penalty amount and hence the amount increases over time.
    • In case of a company, the penalty amount depends upon the nominal share capital and period of delay.

  • Do I need to get a digital signature for filing ROC returns?

    • LLP form 11 needs to be signed with the digital signature of anyone designated partner.
    • In the case of a company, the annual return form has to be signed with the digital signature of the director or the company secretary in practice (as the case may be).

  • Will there be any additional charges during ROC filing?

    Yes, the plan covers only the professional & ROC filing fees (excluding fee for SH-7) from Cleartax. Apart from this, there is stamp duty payable. Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges will be based on the nature of MCA form. In some states, the amount varies according to the authorised capital of the company. These charges are not part of the plan’s price.

  • What are the government fees applicable for annual ROC filing?

    The fees differ based on your turnover and share capital These fees apply for a turnover of Rs.1 crore.

    • AOC 4: Rs. 300
    • MGT-7: Rs.400

  • I need flexibility in the name of my company. Can I provide multiple names?

    Yes, you can provide up to 6 names for your company. We will need to file this application separately. Additional charges of Rs. 1000 will apply. These will not be covered in the current package.

  • I and my partners are both directors and shareholders in our company. We wish to bring in two additional shareholders as well. Is that covered in the package?

    In the current package, we cover up to 2 digital signatures for two directors. For two additional shareholders, you need to secure two additional digital signatures certificates. We offer digital signature certificate – Click hereto purchase digital signature

  • Our company would like to bring in a foreign citizen as a director. Is this covered in your package?

    To bring in additional director, you need to secure digital signature (DSC ).

    The only passport of the foreign director is required. In some countries, the residency certificate will be provided. These need to be submitted for the application. Any incidental charges here is not covered in the package.

Should bloggers register for GST

Let’s examine whether GST is applicable for bloggers.

Bloggers earn revenue from ads placed on their website. In the general course of the business, advertising is taxable and tax dues of the GST Act will be taxed.

blogger

The person who displays and demands advertisements in a medium will be the recipient of the services and the distributor will be the person who publishes the ad in advertising / TV / Radio / Print. Say that a television channel shows ads for a toothpaste company. So the TV service is a service distribution and a toothpaste company. The TV channel will raise an invoice in a toothpaste company and buy GTT.

However, in the case of a blog, there are certain aspects to consider:

Is Blogger Distributor? Bloggers provide internet real estate for companies to host their ad. There is a service supply. So Blogger is a distributor.

Who is the receiver? When payments are made to Google Payments, the Clearinghouse works because Google will pay directly to the paid companies. Hosted advertising these companies do not directly interact with the blogger. Blogger does not know exactly how much money was to be charged on these blogs.

Do you know Blogger about GSTIN or other details of companies that place ads on the blog? Here Blogger interacts with Google Ads. He does not know what ads were placed on his website. Who should give those ads? Are these companies registered under GST? Blogger needs to raise an invoice for anyone.

Who gives payments to blog?

Bloggers payments through Google AdSense based on the traffic and ads on the blog. Even though acting as a distributor, Blogger did not raise an invoice. In the meantime, Google charges the companies for the ads they make. So there is no direct connection between the issuer and the receiver.

Google will not accept a distributor or advertising service.

When various aspects of the GST Act are addressed, such a setup is not addressed separately. Until further clarification, we ask bloggers to avoid unnecessary concerns about whether to register or not. We will post our readers if the government announces the changes. This has been referenced by our readers. However, we do not believe that registering is needed immediately, there is not enough specification based on the above points.

Counter Vision

All the discussions below are just a concept. Because the GTA Act does not have sufficient clarity about whether or not the bloggers need to register.

This scenario may only change the variation on a report/statement made by Google to be invoked by Google to the extent that Google decides invoice for the advertiser. The transaction may be broken in two stages. [Note: This is just a hypothesis, there is no need for GST to make these transactions disappear].

  • Transaction 1-> Google (Distributor), Advertiser (Ticket)
  • Transaction 2- 2- Blogger (Distributor), Google (Recipient)

You can raise an invoice, it is important to identify where the service is.

Distributor of India and the recipient

The advertising company provides India-based and invoicing information from Google India

– Where IGST is charged where advertisers and Google are based on different states.

– SGST + CGST advertiser and Google will be placed at the same level.

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