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AOC-4 Form is mandatory for the companies registered under the companies act forms the part of the company compliance. Since this form is an annual return, every company public limited company must submit their financial statements and other documents as per the regulation of the Ministry of Corporate Affairs (MCA). In respect of Companies AOC-4 form for the financial year 2023-24 has to be filed on or before 29/10/2024. If the form is not filed before this date, there will be ₹100 penalty charged daily, and it means that the amount can grow big in the long run.
So in this article we will explain what is required in AOC-4 Form, the consequences of a failure to fill it, and a guide on how to properly submit this form on time.
AOC 4 form is employed to submit the annual financial statements with MCA of the companies. Such financial statements include balance sheet, profit and loss account, statement of cash flows, statement of changes in equity where applicable, together with any additional explanatory notes. This form needs to be filed by any company incorporated under the Companies Act, 2013 so that the MCA is in possession of the latest information about the company’s performance.
It is completed as part of compliance checks every year for compliance with corporate governance principles amid openness and responsibility. Every year, this form has to be filed by all private limited companies, public limited companies, one person companies or any other required company.
The AOC-4 Form for the financial year 2023 of the Company has to be filed up to 29th October 2024. This date will apply for all the companies whose financial year end on 31st’ March, 2024. Financial returns are expected to be filed with the Czech Stock Exchange within 30 days after Companies’ Annual General Meeting that must take place before the end of September.
If a company has missed filing the AOC-4 Form then the late filing attracts a fee of ₹100 per day from 30th October 2024 until the form is filed. It stays at a daily fine and can, therefore, add up quickly, and the longer one is in default, the larger the daily fine becomes. Moreover, repeated violation of the anti-corruption legal obligations may result in other penalties and legal consequences as regards the company’s reputation and legal standing with the MCA.
AOC-4 Form has an essential function in the promotion of corporate transparency and accountability. It is also a statement of the company’s financial position and performance, which is helpful for the regulatory bodies, shareholders as well as investors.• It make sure that MCA regulations are complied to by the company.• Assists in ensuring a good compliance status.• As for Benefits, the Policy protects the company from huge fines and legal problems.• Increases belief to the regulators and prospective business partners with the company.orate transparency and accountability. It serves as a record of the company’s financial health and operations, which is essential for regulatory authorities, stakeholders, and investors. Filing this form on time:
The failure to observe this compliance results in a legal case against the firm and its directors hence it is essential for the compliance with this compliance requirement.
Step-by-Step Process to File AOC-4 Form
Before filing, ensure your company’s financial statements are ready. These include the balance sheet, profit and loss account, and any notes to accounts. The statements should be signed and approved by the company’s board of directors.
Visit the MCA’s official website (www.mca.gov.in) and log in using your company’s credentials, including the Corporate Identity Number (CIN) and password.
After logging in, select the AOC-4 Form from the list of available e-forms on the portal. You’ll be prompted to download the form to your system.
Fill out the form with the company’s basic details, including:
AOC-4 Form is required to be certified by a Chartered Accountant (CA) or Company Secretary (CS). Make sure that the form is filled and signed digitally through their Digital Signature Certificate (DSC).
After the form is completed and you attach all necessary documents, you should submit the form and go to the payment of filing fees. The fees differ depending on the company’s registered capital.
After completing the payment please fill the form online. After submission, an acknowledgment will be produced and you will be allowed to download it for future use.
It is mandatory for every company to file the AOC-4 Form on time according to the regulation of the MCA. The due date of the financial year 2023- 2024 is 29th October 2024 and in case of delay the fine charged per day will be one hundred rupees only. When the guidelines proffered here are adhered to, firms stand an advantageous position against penalties, consistently meet MCA filing deadlines and display robust compliance profiles.
Maintain compliance in your company by filing your AOC-4 Form timely so that you do not face penalties and also protect the business image.
DISCLAIMER: The information provided in this article is intended for general informational purposes only and is based on the latest guidelines and regulations. While we strive to ensure the accuracy and completeness of the information, it may not reflect the most current legal or regulatory changes. Taxpayers are advised to consult with a qualified tax professional or you may contact to our tax advisor team through call +91-9871990777 or info@semantictaxgen.in