As per Section 137(1) of the Companies Act, 2013, every Company registered in India is required to file e-forms- AOC-4/ AOC-4 CFS/ AOC-4 XBRL/ AOC-4 NBFC/ AOC-4 CFS NBFS every year with the Registrar of Companies, within 30 days from the date of Annual General Meeting. These e-forms need to be filed along with all the relevant documents that are required to be attached. Every Company is mandated to comply with Schedule III of the Companies Act, 2013 to prepare financial accounts.
Rounding off was earlier not mandatory for division-1 Companies. However, after the amendments in Schedule 3, rounding off has been made mandatory for both entities. As per the recent amendments in Schedule 3, it is now mandatory for the Companies to round off the figures appearing in the financial statements on the basis of ‘Total Income’ instead of ‘Turnover’.
Total Income
Rounding Off
Less than one hundred crore rupees
To the nearest hundreds, thousands, lakhs, millions, or decimals thereof
One hundred crore rupees or more
To the nearest lakhs, millions, crores, or decimals thereof
The disclosure of shareholdings of the promoters and the percentage change during the year has also been added for all Companies.
Shares held by promoters at the end of the year
% Change during the year***
S. No
Promoter’s Name
No. of Shares**
% of Total Shares**
Total
* Promoter here means promoter as defined in the Companies Act, 2013. ** Details shall be given separately for each class of shares. *** Percentage change shall be computed with respect to the number at the beginning of the year, or if issued during the year for the first time, then with respect to the date of issue.
The following aging schedule shall be given for trade payables due for payment,
Particulars
Outstanding for the following periods from the due date of payment#
Less than 1 year
1-2 years
2-3 years
More than 3 years
(i)MSME
(ii)Others
(iii) Disputed dues
MSME
(iv) Disputed dues
Others
# Similar information shall be given where no due date of payment is specified, in that case, disclosure shall be from the date of the transaction. Unbilled dues shall be disclosed separately
The following aging schedule shall be given for trade receivables due for payment
Less than 6 months
6 months -1 year
(i) Undisputed trade receivables – considered good
(ii) Undisputed trade receivables – considered doubtful
(iii) Disputed trade receivables considered good
(iv) Disputed trade receivables considered doubtful
(ii) Undisputed trade receivables – which have a significant increase in credit risk
(iii) Undisputed trade receivables – credit impaired
(iv) Disputed trade receivables–considered good
(v) Disputed trade receivables – which have a significant increase in credit risk
(vi) Disputed trade receivables – credit impaired
# Similar information shall be given where no due date of payment is specified, in that case, disclosure shall be from the date of the transaction.
The Company shall provide details of all the immovable properties (other than the properties where the Company is the lessee and the lease agreements are duly executed in the favor of the lessee) whose title deeds are not held in the name of the Company. The details shall be provided in the format given below and where such immovable property is jointly held with others, details are required to be given to the extent of the Company‘s share.
Relevant item in the balance sheet
Description of the item of property
Gross carrying value
Title deeds held in the name of
Whether the title deed holder is a promoter, director, or relative# of promoter*/director or employee of promoter/director
Property held since which date
Reason for not being held in the name of the Company**
PPE -
Land Building
-
**also indicate if in dispute
Investment property -
PPE retired from Active use and held for disposal -
others
#Relative here means relative as defined in the Companies Act, 2013. *Promoter here means promoter as defined in the Companies Act, 2013.
In case the Company has revalued its property, plant, and equipment, the Company shall disclose whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017.
Following disclosures shall be made where loans or advances in the nature of loans are granted to promoters, directors, KMPs, and other related parties (as defined under the Companies Act, 2013,) either severally or jointly with any other person, that are:
Type of borrower
Amount of loan or advance in the nature of loan outstanding
Percentage of the total loans and advances in the nature of loans
Promoters
Directors
KMPs
Related Parties
CWIP
Amount in CWIP for a period of
(Amount in Rs.)
Total*
Projects in progress
Projects temporarily suspended
*The total shall tally with the CWIP amount in the balance sheet.
To be completed in
Project 1
Project 2
**Details of projects where Activity has been suspended shall be given separately
Intangible assets under development
* Total shall tally with the amount of Intangible assets under development in the balance sheet.
**Details of projects where Activity has been suspended shall be given separately.
Where any proceedings have been initiated or pending against the Company for holding any Benami Property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, the Company shall disclose the following,
Where the Company has borrowings from banks or financial institutions on the basis of security of current assets, it shall disclose the following,
Where a Company is a declared wilful defaulter by any bank or financial institution or other lenders, the following details shall be given,
*wilful defaulter here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or the financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.
The Company shall explain the items included in the numerator and denominator for computing the above ratios. Further explanations shall be provided for any change in the ratio by more than 25% as compared to the preceding year.
Where the Company has any transactions with Companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956, the Company shall disclose the following details,
Name of struck-off Company
Nature of transactions with struck-off Company
Balance outstanding
Relationship with the struck-off Company, if any, to be disclosed
Investments in securities
Receivables
Payables
Shares held by stuck-off Company
Other outstanding balances (to be specified)
Where any charges or satisfaction yet to be registered with the Registrar of Companies beyond the statutory period, details and reasons thereof shall be disclosed.
Where the Company has not complied with the number of layers prescribed under Clause (87) of Section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, the name and CIN of the Companies beyond the specified layers and the relationship/extent of holding of the Company in such downstream Companies shall be disclosed.
Where any Scheme of Arrangements has been approved by the Competent Authority in terms of Sections 230 to 237 of the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of Arrangements has been accounted for in the books of account of the Company in accordance with the Scheme, and in accordance with accounting standards and deviation in this regard shall be explained.
The Company shall disclose the following,
Total Revenue has been substituted by Total Income.
The Company shall give details of any transaction not recorded in the books of accounts that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as search or survey or any other relevant provisions of the Income Tax Act, 1961) unless there is immunity for disclosure under any scheme and also shall state whether the previously unrecorded income and related assets have been properly recorded in the books of account during the year.
Where the Company is covered under Section 135 of the Companies Act, the following shall be disclosed with regard to CSR Activities:-
Where the Company has traded or invested in Cryptocurrency or Virtual Currency during the financial year, the following shall be disclosed,