MCA Extends Filing Date for Certain Forms for Companies

MCA Extends Filing Date for Certain Forms for Companies

In lieu of requests received from various stakeholders across the country that owing to COVID it has become very difficult to comply with due dates of annual compliance of company and accordingly, there should be some relaxation on the levied additional fees on the annual financial statement filings, same has been accepted.

The Ministry of Corporate Affairs vide General Circular No. 17/2021 dated 29th October 2021, has notified that a relaxation has been provided to the companies on the levied additional fees to be paid as per the Companies Act, 2013 while filing the following e-forms for the financial year that ended on 31st March, 2021:

  1. Form AOC-4
  2. Form AOC-4 (CFS)
  3. Form AOC-4 XBRL
  4. Form AOC-4 Non-XBRL
  5. Form MGT-7
  6. Form MGT-7A

The Ministry as of now has decided that the fees will be waived off for the financial year 2020-21 till 31st December, 2021. This means that the abovementioned forms can be filed by all the companieswithout any late fees till the extended time period. They just have to pay the original charges and not the additional penalty for late filing.

This is a welcome move by the MCA and will benefit all the cases of company registration in India on or before FY 20-21.

All companies in India are required to file the below mentioned forms with the Registrar of Companies (ROC) on or before the due date as notified by the Ministry of Corporate Affairs (MCA).

  • Form AOC-4: This form is filed annually and reflects the annual accounts of the company and needs to be filed within 30 days from the conclusion of the Annual General Meeting (AGM) of the company. The following documents are to be submitted along with the form-
    1. Financial Statements of the company
    2. Board Report
    3. Form AOC-2
    4. CSR Report
    5. Form MGT-9
    6. Secretarial Audit Report
    7. Corporate Governance Report.
  • Form AOC-4 (CFS): It is filed when the company has its Consolidated Financial Statements (CFS). Just like Form AOC-4, this form is filed annually and with the attachments similar to it.
  • Form AOC-4 XBRL: In case of companies with specified authorized and paid up capital, annual accounts need to be filed through XBRL mode. It must be filed within 30 days of the conclusion of the AGM. The XML documents of the company’s financial records and statements are to be attached with the form. Any listed company in India and their Indian subsidiary companies or a public company having a paid up capital of more than or equal to Rs. 5 Crore or a threshold of Rs.100 Crore is required to file this form.
  • Form AOC-4 Non-XBRL: The companies having paid up capital less than Rs.5 Crore and/or turnover less than Rs. 100 Crore can file the financials of the company through AOC-4 non-XBRL mode.
  • Form MGT-7: It is to be filed by all the Private Company, Public Limited Companies or Listed Company annually. This form is filed for the annual returns of the company within 60 days of conclusion of the AGM. The list of all the shareholders, debenture holders, Form MGT-8 and Share Transfer Certificate are to be attached with Form MGT-7 during filing.
  • Form MGT-7A: This form is to be filed by the small companies and one person companies in India to file their annual returns.