According to the provisions of sec - 129 & 137 of Companies Act 2013, read with Rule 12 of the Company (Accounts) Rules, 2014 every company (Public/Private) is required to prepare and file its Financial Statements (including consolidated financial statements), if any, duly adopted at the AGM and annual return (sec-92(4)) within a period of 30 days and 60 days respectively, from the conclusion of the Annual General Meeting.
However, a One Person Company shall file its financial statements duly adopted by its member, within one hundred eighty days from the closure of the financial year.
Procedure for Adoption and Filing of Annual Accounts with the Registrar of Companies:
Hold a Board Meeting to approve the Financial Statements ------> Approve the Financial Statements & Issue (not less than 21 days) notice of AGM--------> Hold AGM and pass the resolution for the adoption of the Financial Statement and also pass the resolution for the appointment, reappointment or ratification of auditor.
ANNUAL FILING WITH ROC:
|
S.No. |
E - Forms |
Purpose of filing |
Applicability |
Due Date |
Due Date(in case where the AGM is held on 30.09.2018) |
|
1 |
MGT -14 |
For approval of financial Accounts and Board's Report |
Only for Public/Listed Companies not for Private Companies (vide MCA notification dated 05.06.2015) |
Within 30 days from date of passing the Board Resolution |
- |
|
2 |
ADT - 1 |
Appointment of Auditor |
Only for fresh appointment/reapp - ointment not for ratification |
Within 15 days from the date of AGM |
15.10.2018 |
|
3 |
AOC -4/AOC-4 (CFS)*/AOC - 4 (XBRL)** |
For Filing of Annual Accounts (Financial Statements, Notice and Director's Report) |
For all companies |
Within 30 days from the date of AGM (Within 180 days in case of one person company from the closure of Financial year) |
30.10.2018 |
|
4 |
MGT-7 |
Filing of Annual Return |
For all Companies |
Within 60 days from the date of AGM |
29.11.2018 |
|
5 |
CRA-4 |
Filing of Cost Audit Report |
For Companies satisfying the limits specified under Companies Act-2018 |
Within 30 days from the receipt of a copy of cost audit report. |
Within 30 days from the receipt of a copy of cost audit report. |
* AOC-4(CFS) - Form for filing Consolidated Financial Statement
**AOC-4(XBRL) - For XBRL filing
XBRL Filing:
Following class of companies are require to file their Financial Statements and other documents with ROC u/s 137 in e-Form AOC - 4(XBRL), by using XBRL taxonomy:-
1) All Listed Companies in India and their Indian Subsidiaries.
2) All Companies having Paid-up share capital of Rs. 5 crore and above; or
3) All Companies having Turnover of Rs. 100 crore and above.
4) All companies which are required to prepare their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015.
However, Banking Companies, Insurance companies, Power Companies, Non-Banking Financial Companies and Housing Finance Companies are not required to file their Financial Statement and other documents by using XBRL taxonomy.
Documents required to be attached with E-Forms
E-Form MGT-14:
• Signed copy of Board Resolution for approval of Financial Statements and Directors' Report.
• Notice of Board Meeting.
E-Form ADT-1:
• Copy of Intimation sent by the Company.
• Copy of Written consent given by the auditor.
• Copy of Resolution passes at the AGM.
E-Form AOC-4/AOC-4 (CFS)/AOC-4 (XBRL)
• Notice of the Annual General Meeting.
• Board of Directors' Report along with MGT - 9.
• Financial Statement (Balance Sheet, Statement of Profit & Loss Account and Notes to accounts).
• Auditor's Report.
• CARO Report, if applicable.
• Consolidated financial statement, if applicable.
• Statement of subsidiary/associate companies/joint ventures as per sec - 129 Form AOC-1
• Cash Flow Statement, if any.
• AOC-2 for particulars of contracts or arrangements with related parties, if applicable.
E-Form MGT-7 (Annual Return) (sec-92(3))
• List of Shareholders & Debenture holders as per annexure attached with the E-form.
Penal Provisions for non filing:
If a company fails to file the copy of the financial statements, before the expiry of the period then-
|
Liability of |
Imprisonment |
Fine |
|
COMPANY |
NA |
Rs. 1000 for every day during which the failure continues but not more than Rs. 10,00,000/- |
|
Officers of Company |
May extend to 6 months |
Not less than Rs. 100,000/-, which may extend to Rs. 500,000/- or with both. |
Important Note: The Companies (Registration Offices and Fees) Second Amendment Rules 2018 has been notified on 7th May 2018 and accordingly-
(i) In case the period within which a document required to be submitted under section 92 or 137 of the Act expires after 30/06/2018, the additional fee mentioned in Table shall be payable:-
|
S. No. |
Period of delay |
Additional fee payable (in Rs.) |
|
1. |
Delay beyond period provided under Section 92(4) of the Act |
100/- per day |
|
2. |
Delay beyond period provided under Section 137(1) of the Act |
100/- per day |
(ii) In all other cases where the belated annual returns or balance sheet/financial statement which were due to be filed whether in the Companies Act, 1956 or the Companies Act, 2013 the following additional fee mentioned in Table shall be payable:-
|
S. No. |
Period of delay |
Additional fee payable (in Rs.) up to 30/06/2018 |
Plus Rs. 100/- per Day w.e.f. 01.07.2018 |
|
1. |
Up to 30 days |
2 times of normal filing fees |
|
|
2. |
More than 30 days up to 60 days |
4 times of normal filing fees |
|
|
3. |
More than 60 days up to 90 days |
6 times of normal filing fees |
|
|
4. |
More than 90 days up to 180 days |
10 times of normal filing fees |
|
|
5. |
Beyond 180 days |
12 times of normal filing fees |
Note: The additional fee shall also be applicable to revised financial statement or board's report under section 130and 131 of the Act and secretarial audit report.
Disclaimer: The contents of this article have been prepared in accordance with the relevant provisions, and information available at the time of preparation. The views and opinions expressed in this article are those of the authors and the author does not take any responsibility of the same and this cannot be quoted without the consent of the author.
The author can also be reached at csvaishalijain.leo@gmail.com
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