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Courtesy/By: Deepshikha Thakur | 2021-01-13 16:24     Views : 48

Financial statements are the means of communication between the shareholders and the board of directors and form AOC 4 Is used for filing financial statements for every financial year with the registrar of companies.

The companies that have paid capital off 5,00,00,000 or more, or companies with an annual turnover of 100 crore rupees or more, all companies listed with Stock Exchange in India and its subsidiaries and all the companies which were covered till date under the companies rule 2011 are required to file AOC 4 XBRL form.

To file company annual returns, the company must appoint and authorize the auditors for the audit of the financial statement, and the directors and other key officials must prepare the report. The financial statement and the board report needs to be approved in the board meeting. After the conclusion of the annual general meeting, the financial statement will be framed and it will lead to the approval of shareholders for accepting the financial statements.

The documents that are needed with form AOC 4 our balance sheet with notes, cash flow statement, reports from the book, reports from the auditor pharma statement of change in equity, and profit and loss statement with its notes. Corporate social responsibility report and statement of subsidiaries in form AOC 1 Are the documents that are required if any.

A declaration needs to be given which certifies that all the information provided in the form is true and is in compliance with the law by the director or manager or secretary or CEO or CFO. The digital signature along with the director identification number of the director or permanent account number of the manager, or CEO, or CFO is required. A full-time practicing company secretary or chartered accountant must provide a declaration which states that verification of all the documents that were attached has been verified by him and all the information he has certified stands true and complete.
If the nominal share capital is less than 1,00,000 then the fee applicable is rupees 200 per document.

If the nominal share capital is 1,00,000 to 4,99,999 Then the fees applicable are rupees 300 per document.

If the normal share capital is 5,00,000 to 24,99,999 then the fees applicable are rupees 400 per document.

If the nominal share capital is 25,00,000 to 99,99,999 Then the fees applicable are rupees 500 per document.

If the nominal share capital is 1,00,00,000 or more then the fee applicable is rupees 600 per document.

Additional fees of rupees 100 per day payable if there is a delay beyond the period provided under section 137(1) of the act. The penalty for non-filing AOC 4 then the penalty imposed on the company is INR 1000 for every day of default subject to and a maximum of INR 10,00,000. In case the defaulting party is the managing director or chief financial officer then the penalty imposed is INR 1,00,000 along with INR 100 for each day of default subject to a maximum of INR 5,00,000.


This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.

Courtesy/By: Deepshikha Thakur | 2021-01-13 16:24

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