When it comes to financial reports, it is very important for businesses to make sure they follow the rules. In this case, filing the AOC-4 is an important requirement. This all-inclusive book goes over the details of filing an AOC-4, explaining what it means, what information it includes, and what could happen if you don't file it. Both business owners and accounting professionals need to know a lot about AOC-4 filing in order to keep their businesses running smoothly and avoid legal problems. Join us as we go over the details of filing an AOC-4 and give you the information you need to easily go through this regulatory process.
2. When it comes to financial reports, it is very important for businesses to make sure they
follow the rules. In this case, filing the AOC-4 is an important requirement. This all-inclusive
book goes over the details of filing an AOC-4, explaining what it means, what information it
includes, and what could happen if you don't file it. Both business owners and accounting
professionals need to know a lot about AOC-4 filing in order to keep their businesses
running smoothly and avoid legal problems. Join us as we go over the details of filing an
AOC-4 and give you the information you need to easily go through this regulatory process.
3. On the AOC-4 form, you need to
include information about the
company's financial records and other
important details. This form should
have most of the information listed
below:
4. (1) General information about the company. The AOC-4 form requires
general information about the company. This includes the Company
Identification Number (CIN), which is a unique number that identifies
the business. The name, registered office address, and authorised
email address of the company should also be given.
(2) Financial year: The AOC-4 form asks for the fiscal year that the
financial records are for. This shows the exact time period for which
financial information is being given.
5. (3) Date of Board Meeting: The form asks
for the date of the Board Meeting where
the financial records and board report were
approved. This means that the financial
papers have been approved and accepted
by the government.
(4) Information about the Annual General
Meeting (AGM): The Annual General
Meeting (AGM) is a very important event
for businesses. On the AOC-4 form, you
have to write down the date that the AGM
took place. The AGM is a place for
shareholders to talk about business issues
and vote on important decisions.
6. (5) Information about subsidiaries: If the
company has subsidiaries, the AOC-4 form asks
for information about them. This could include
the names of companies, their CINs (if they have
them), and any other information that is
important.
(6 Information about the company's auditors:
The AOC-4 form requires information about the
company's auditors. This means giving out the
name of the auditing company or individual
auditors, as well as their membership or
registration numbers and other relevant
information.
(7) field: The form asks for information about the
business's field. This makes it easier to sort the
company's actions into groups and put them in
the right sector for reporting.
(8) Other information: Companies with
subsidiaries may need to make consolidated
financial accounts. The form asks for
confirmation that these kinds of comments are
necessary.
7. (9) Electronic books of accounts and records: Companies can keep their books of accounts
and other related records electronically if they want to. The form wants to know if this
way of keeping records has been chosen by the company.
(10) Balance Sheet Financial parameters: The AOC-4 form asks for several financial
metrics related to the balance sheet of the company. This includes information like the
company's net worth, loans (including loans between companies), debentures and
interest, and savings between companies.
(11) Issuance of shares: If the company gave out any shares during the reporting time, the
form requires that you give details about that. This could include details about the type of
shares issued, the amount of shares, the price at which they were sold, and anything else
that is important.
(12) Financial parameters for the Profit and Loss Account: The AOC-4 form requires that
financial data related to the Profit and Loss Account of the company be included. This
includes sales, costs, gross profit, working profit, net profit, and other important financial
numbers.
8. (13) Main goods or services: The form asks for information about the main products or
services the company offers. This gives an overview of the main business tasks of the
company.
(14) Information about CSR: Corporate Social Responsibility (CSR) parts might be on the
AOC-4 form. It may be necessary to give details about which CSR laws apply, the
company's net worth and turnover, average net profit, specifics of CSR spending, as well
as details and reports about each project.
(15) Disclosure of transactions with related parties: Companies have to tell the public
about any deals they've made with related parties, like subsidiaries, associates, top
management staff, and their families. There may be space on the AOC-4 form to describe
these activities.
(16) Information about the auditors: The form may ask for information about the
company's auditors, such as when they were hired, when they quit, when they were fired,
or any other important changes. Also, more information should be given about the
inspectors' report and whether or not the Companies (Auditor's Report) Order (CARO)
applies.
9. 17) Whether or not a secretarial audit applies: The AOC-4 form may ask for details about
whether or not a secretarial audit applies. This is a reference to an audit that was done to
see how well the company followed the Companies Act and other laws.
It's important to keep in mind that the exact requirements and sections of the AOC-4 form
can change depending on the laws and rules in the area. When filling out the AOC-4 form,
it is important to check the official form and instructions from the right regulatory body to
make sure everything is correct and full.
Punishments Provisions
Section 137(3) of the Companies Act, 2013, says that a company will be fined if it doesn't
file its financial records by the deadline. Here are the punishments that can be given:
The company must pay a fine:
Initial Penalty: The business will have to pay a fine of 10,000 rupees for not filing its
financial statements on time.
10. Continuous Penalty: If the failure to file goes on past the initial limit, a fine of 100 rupees
per day will be added for each day that the failure to file continues.
Maximum Penalty: The penalty that is already in place will go on until it hits a maximum of
two lakh rupees.
People who are responsible: Director of Business Operations and Chief Financial Officer:
Accountability: If the company has a managing director and a top financial officer, they are
responsible for making sure the rules are followed. If the company doesn't file the
financial records, they will have to pay a fine of 10,000 rupees.
Individual Penalty: If the failure continues after the initial date, the people responsible will
have to pay an extra 100 rupees per day for every day that the failure continues.
Maximum Penalty for Each Person: The people who are responsible will have to pay a
penalty until it hits a maximum of 50,000 rupees.
