INDIAN COMPANY SECRETARY

XBRL ROC FILING

Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129(3), 137, of The Companies Act , 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and annual return is governed under Section 92 of the Companies Act,2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.

XBRL or the Extensible Business Reporting Language is a language for the electronic communication of business and financial data. It is an open, royalty free, international information format (software specification) developed through a process of collaboration between accountants and technologists. The main purpose of using XBRL is uniform set of accounting data available throughout the country.

The Ministry of Corporate Affairs, Government of India, vide its General Circular No. 37/2011, dated June 07, 2011 has required the following class of companies (except banking companies, insurance companies, power companies, Non Banking Financial Companies and the Housing Finance companies(added through notification dated 04.04.2016)) to file the financial statements in XBRL form only from the year 2010–2011:

(i) All companies listed in India and their Indian subsidiaries;

(ii) All companies having a paid up capital of Rs. 5 crore and above; and

(iii) All companies having a turnover of Rs. 100 crore and above

The procedure of ROC filing the annual accounts can be easily understood by the following process:

1. Hold a Board Meeting to

• Authorize the auditor for preparation of financial statements as per Schedule III of the Companies Act, 2013.

2. Hold another Board Meeting for approving the draft financial statements, Board Report and Annual Return by the directors of the company.

3. Conduct the Annual General meeting of the Company and pass the necessary resolutions. Please note that the financial statements are considered final only when the same are approved by the shareholders in the general Meeting.

E-Forms to be Filed for Filing ROC Return

Name of E-form	Purpose  of E-   form	Attachments	Due date of filing	Applicability on Company
Form AOC-4(XBRL)	Filing of   Annual   Accounts   in XBRL   mode	XML document of financials of the Company	30 days from the conclusion of the AGM	Listed companies in India and their Indian subsidiaries (or) a public company With paid up capital >= 5 crores (or) With turnover>=100 crores
Form CRA-4	Filing of Cost Audit Report	XML of Cost Audit	30 days from the receipt of Cost Audit Report	Companies prescribed as per The Companies (Cost records and Audit Rules), 2014 amended from time to time.

ROC E-filing Process on MCA (www.mca.gov.in)

1. Download the forms as per above table (i.e. AOC-4 XBRL) from the MCA website under :

• MCA services menu ====> E-filing===> Company Forms Download.

2. Fill the appropriate E-forms applicable of your company and attach the pdf or XML documents as per the requirement of the form ===> Press Check form ===> Attach the Digital Signature of the Director and Practicing professional (if applicable; exempted for OPC and small companies) ===> Now do pre-scrutiny.

3. Get yourself registered on MCA portal as a Business User or registered user. After getting registered on the portal, login with your ID and password.

4. After login go to upload E-forms ===> Browse the filled and signed form from your system’s location.

5. After uploading the form, the system will automatically generate a payment window.

You have two options:

• Pay Later and save the challan generated and pay within due time
• Pay using internet banking or debit/credit card facility simultaneously and save the payment challan for future reference.

6. After doing this complete process, you can track the transaction status of your form under MCA services menu. What you need to do is just put the SRN no. generated in the challan and you will be able to know whether your form is approved or for pending for approval.

General Points to be Kept in Mind while Doing the Annual ROC Filing

• The notice of Board Meeting should be sent to all the directors before 7 days and acknowledgment for the same should be taken.
• As per Section 134 of the Companies Act, 2013 the financial statement, including consolidated financial statement, if any, shall be signed on behalf of the Board at least by the chairperson of the company where he is authorized by the Board or by two directors out of which one shall be managing director and the Chief Executive Officer, if he is a director in the company, the Chief Financial Officer and the company secretary of the company, wherever they are appointed, or in the case of a One Person Company, only by one director.
• As per Section 101 of the Companies Act, 2013, a clear 21 days’ notice for general meeting shall be given to all the members, legal representatives of any deceased person, auditor, and every director of the company by physical or electronic mode. The notice should also contain the location map of the venue of the general meeting as per Secretarial Standards and should be placed on the website, if any.
• The company shall prepare its books of accounts and keep at its registered office. If the company chooses to place at any other place, then the company will have to file AOC-5 by passing a board resolution.
• While uploading the forms, care should be taken that the form is of the latest version as provided on the MCA.

Conclusion:

From the above, we can conclude that all the Companies registered under the Act, will have to file their annual accounts and annual return as per the provisions of the Companies Act, 2013 through MCA portal within the prescribed time period.

Please feel free to contact on +918003511365/auindiacs@gmail.com for any queries or assignments regarding XBRL filing.