ACS Kanika Kumar

Kanika Kumar

Ministry of Corporate Affairs vide General Circular No. 8/2016 dated 29.07.2016 made following Clarifications:

♣ Extension of last date of filing of following Forms related to Annual Returns and Financial Statements:

  • Form AOC-4 ( Filing of Financial Statements)
  • Form AOC-4 (XBRL) ( Extensible Business Reporting Language)
  • Form AOC-4 (CFS) ( Consolidated Financial Statements)
  • Form MGT-7( Filing of Annual Returns)

♣ Relaxation of Additional fees in filing above named forms.

Following are the Points for which the above mentioned Circular has been passed:

  • Due to Continuous Revision of above named forms.
  • Companies need some time to get familiar with the filing of new forms.

So, Finally MCA has decided to allow Companies to file financial Statements or Annual Returns on or before 29.10.2016, where due date for holding of AGM is on or after 1st April, 2016, Without Payment of Additional Fees.

Provisions with Regard to Filing of Annual Returns and Financial Statements under the Companies Act, 2013.

Annual Return:

As per Section 92(4) of the Companies Act, 2013

Every Company shall file a copy of Annual Return in Prescribed Form MGT-7 with the Registrar.

IF AGM IS HELD:

File Annual Return within 60 days from the date on which the AGM is held

IF NO AGM IS HELD IN ANY YEAR:

File Annual Return within 60 days from the date on which the AGM should have been held along with the statement specifying the reasons for not holding such AGM with additional fees as defined under Section 403.

Financial Statement:

As per Section 137(1) and 137(2) of the Companies Act, 2013

In accordance with Section 137(1) of the Companies Act, 2013, A copy of the financial statements, including consolidated financial statement, if any, in Form AOC-4, along with all the documents as required, duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days of the date of annual general meeting in such manner, with such fees or additional fees as may be prescribed in Section 403.

In accordance with Section 137(2) of the Companies Act, 2013,Where the annual general meeting of a company for any year has not been held, the financial statements along with the documents as required and duly signed along with the statement of facts and reasons for not holding the annual general meeting shall be filed with the Registrar within thirty days of the last date before which the annual general meeting should have been held and in such manner, with such fees or additional fees as may be prescribed within the time specified, under section 403.

Conclusion

It has been decided that Companies to file financial Statements or Annual Returns on or before 29.10.2016, where due date for holding of AGM is on or after 1st April, 2016, Without Payment of Additional Fees.

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Tags : Companies Act (1525) Companies Act 2013 (1279)

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