FinanceInFocusTaxation

MCA Extends Deadline for Annual Filing of Returns Without Additional Fee

It has considered the various requests from stakeholders regarding the said relaxation of levy of additional fees for the annual financial statement/return filings required to be done for the financial year which ended on 31st March, 2021.

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As per the general circular by Ministry of Corporate Affairs, no additional fees shall be levied upto 15th February, 2022 for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL, and upto 28th February, 2022 for filing of e-forms MGT-7/MGT-7A with regards to the financial year that ended on 31st March, 2021.

This announcement is in continuation to general circular no. 17/2021 dated 29th October, 2021.

It has considered the various requests from stakeholders regarding the said relaxation of levy of additional fees for the annual financial statement/return filings required to be done for the financial year which ended on 31st March, 2021.

There are certain classes of Companies which are required to file their Balance sheet and Profit and Loss or Financial Statements in XBRL.

All companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or all companies having paid up capital of INR 5 crore and above; or, companies having turnover of INR 500 crore and above; or which were hitherto covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011: However, Banking, Power, NBFC and Insurance Companies are exempted from XBRL filing till further orders.

For filing 23AC/ACA XBRL stakeholders are required to use taxonomy based upon new Schedule VI of the Companies Act, 1956.

In case of filing AOC-4 XBRL, stakeholders are required to use taxonomy based upon Schedule III of the Companies Act, 2013 For more details, you may refer to the FAQs provided in relation to XBRL forms at this link mca.gov.in/XBRL/xbrl_eform_faq.html

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