The Ministry of Corporate Affairs (“MCA”) issued a General Circular No.12/2016 dated 27 October 2016 to relax the additional fees and extension of last date for filing of financial statements and annual returns.
Every Company is required to file its financial statements and annual returns with the Registrar of Companies within 30 days and 60 days respectively from the date of Annual General Meeting. However, on receipt of various request from professionals, Institute of Company Secretaries of India (ICSI) had requested the Ministry to extend the said due date for the following reasons vide its letter dated 13 October 2016:
• Recently issued XBRL taxonomy is yet to get fully settled in the tools and with the users and also in the filing connected thereto;
• XBRL taxonomy is still not available in respect of CSR;
• Last date for Income tax extended to 17 October 2016;
• Festival season : Diwali is on 29th and 30th October 2016 which is the last date for filing of financial statements
Keeping in view of the above requests, it has been decided to extend the last date for filing of financial statements and annual returns using e-form AOC-4, AOC-4 (XBRL), AOC-4 (CFS) or MGT-7, as the case may be, without payment of additional fees, wherever applicable till 29 November 2016.
To read the full text of the circular, please click the below link: