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Form AOC 4 Filing – Due Date, Fees & Penalty

Stakeholder accountability is one of the most important aspects of the business world. Different communication methods like financial statements, disclosures, board reports and auditor reports are the ways through which companies communicate with their stakeholders. One of the primary methods of communication between the board of directors and shareholders is through the filing of financial statements. In India, Form AOC 4 is used as a designated form for filing financial statements with Registrar of Companies (ROC). This guide covers everything you need to know about Form AOC 4 filing, its significance, points to note while making these filings and penalties for late submission.

Importance of Filing AOC 4

Companies’ finance department keeps formal records on their operations and financial position. The latter give important information concerning an enterprise’s condition in terms of profitability and funding. They are crucial documents for shareholders, investors, and lenders when they require details that would assist them making wise investment decisions. Furthermore, company financial activities are revealed through such information like annual report by Board’s report or auditor’s report along with other obligatory disclosures made in financial statements.

Points to Remember while Filing AOC 4

When filing Form AOC 4, there are several important points to consider. Let's take a closer look at these points:

Segment I: Information and Particulars in Respect of Balance Sheet (Part A)

  • Enter the Corporate Identification Number (CIN) of the company, which can be found using the registration number or company name.
  • The form will pre-fill the company's name, registered office, email ID, and date of incorporation. Update the email ID if necessary.
  • The authorized capital and the number of members as of the filing date will also be pre-filled.
  • Enter the start and end dates of the financial year.
  • Provide the date of the board of directors' meeting in which the financial statements and board's report were approved.
  • Enter the date of signing of the reports on the financial statements by the auditors.
  • Indicate whether the annual general meeting (AGM) was held and, if so, provide the date of the AGM.
  • If the company is a subsidiary, enter the particulars of the holding company. If the company is a holding company, enter the particulars of the subsidiary company.
  • Specify the applicable provision of the Companies Act, 2013, under which the company became a subsidiary.
  • Fill in the particulars of the auditor, including their name, membership number, and address.
  • Provide the type of company and indicate the applicability of Schedule III of the Companies Act, 2013.
  • Mention whether the company is required to prepare consolidated financial statements and maintain books in electronic form.

Segment I: Information and Particulars in Respect of Balance Sheet (Part B)

  • Enter various details related to the balance sheet and the financial parameters of the balance sheet.

Segment II: Information and Particulars in Respect of Profit & Loss Account

  • Fill in the detailed profit and loss account and the financial parameters.

Segment III: Reporting of Corporate Social Responsibility

  • Specify the applicability of Corporate Social Responsibility (CSR) as per Section 135 of the Companies Act, 2013, and provide turnover and net worth details.
  • Mention the average net profit of the company for the last three financial years in rupees.
  • The prescribed CSR expenditure is 2% of the average net profit of the company for the last three years. State this amount in rupees.
  • Detail the spending activity in a tabular format.
  • If the amount was spent with the assistance of implementing agencies, provide the name, address, and email address of such agencies.
  • Include details regarding the "Enclosure of Responsibility statement of the CSR committee on implementation and monitoring of CSR policy to the Boards' report."

Segment IV: Disclosure about Related Party Transactions

  • Provide details of contracts entered on an arm's length basis and those not entered on an arm's length basis in a detailed manner.

Segment V: Auditor's Report

  • If the Comptroller and Auditor General (CAG) have commented or supplemented the audit report under Section 143 of the Companies Act, 2013, mention it (applicable to government companies).
  • State the adverse remarks made by the auditor and indicate the applicability of the Companies (Auditor's Report) Order (CARO) to the company.

Segment VI: Miscellaneous

  • Indicate the applicability of secretarial audit and attach detailed disclosures regarding the directors' report under Section 134(3).
  • Attach various supporting documents as required by the form.

Certifying Form AOC 4

  • The director, manager, secretary, CEO, or CFO should provide a declaration certifying that all information in the form is true and correct and compliant with the law. The form must be digitally signed, including the director's DIN or the PAN of the manager/CEO/CFO.
  • A practicing Chartered Accountant, Cost Accountant, or Company Secretary should provide a declaration stating that they have verified all attached documents and certify the information's accuracy and completeness. They should also state their membership number and status (fellow or associate).

Fees for Filing AOC 4

The applicable fees for filing Form AOC 4 depend on the company's nominal share capital. Here are the fee slabs:

Nominal Share Capital

Fee Applicable

Less than 1,00,000

Rupees 200 per document

1,00,000 to 4,99,999

Rupees 300 per document

5,00,000 to 24,99,999

Rupees 400 per document

25,00,000 to 99,99,999

Rupees 500 per document

1,00,00,000 or more

Rupees 600 per document

Companies without share capital

Rupees 200 per document

Late Fees on Form AOC 4

In case of delayed filing of annual returns, balance sheets, or financial statements, the following late fees apply:

Period of Delay

Additional Fee Payable

Delay beyond the period provided under Section 137(1) of the Act (due dates to file AOC 4, within thirty days of the date of the annual general meeting)

Rupees 100 per day

Penalty for non-filing AOC 4

 

Defaulting Party

Penalty Imposed

Company

INR 10,000 in case of continuing failure + INR 100 for each day of default subject to a maximum of INR 2 Lakhs

Managing Director/Chief Financial Officer (or any other Director assigned responsibility in the absence of the MD/CFO)

INR 10,000 + INR 100 for each day of default subject to a maximum of INR 50,000

All directors of the company

INR 10,000 + INR 100 for each day of default subject to a maximum of INR 50,000

Referring to the financial health, growth and position of a business to its stakeholders, filing the Form AOC 4 is very important. In fulfilling their obligations and providing necessary information to shareholders, investors or financial institutions; company’s can meet their obligations by ensuring that they file accurately and on time. When submitting Form AOC 4, it is important to remember the above-mentioned points and also make note of the fines and penalties that will be imposed if you fail to comply with the law.

author

The Tax Heaven

Mr.Vishwas Agarwal✍📊, a seasoned Chartered Accountant 📈💼 and the co-founder & CEO of THE TAX HEAVEN, brings 10 years of expertise in financial management and taxation. Specializing in ITR filing 📑🗃, GST returns 📈💼, and income tax advisory. He offers astute financial guidance and compliance solutions to individuals and businesses alike. Their passion for simplifying complex financial concepts into actionable insights empowers readers with valuable knowledge for informed decision-making. Through insightful blog content, he aims to demystify financial complexities, offering practical advice and tips to navigate the intricate world of finance and taxation.

Frequently Asked Questions

Form AOC 4 is a document required under the Companies Act for filing financial statements by companies registered in India.

The due date for filing Form AOC 4 depends on the financial year-end of the company and typically falls within 30 days from the date of the annual general meeting (AGM) or within 180 days from the end of the financial year if there's no AGM.

Failure to file Form AOC 4 within the specified timeline can result in penalties imposed by the Ministry of Corporate Affairs (MCA).

The fees for filing Form AOC 4 are determined based on the authorized share capital of the company and are prescribed by the MCA.

Penalties for late filing of Form AOC 4 vary depending on the duration of the delay and the turnover of the company, ranging from a few thousand rupees to lakhs of rupees.

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