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File your AOC XBRL with MCA successfully

Companies in India are required to file Form AOC-4 to the Registrar of Companies (ROC), Ministry of Corporate Affairs (MCA) to showcase their accountability to all stakeholders by submitting company annual financial statements, board reports, and the auditor’s reports. These are filed annually and are to be submitted within 30 days from the date of AGM.

Who should file Form AOC-4 XBRL?

All companies registered in India must mandatorily file Form AOC-4.

In 2011, MCA mandated that Companies in India that meet any of the following criteria need to file XBRL financial statements along with e-form AOC-4, shortly known as AOC-4 XBRL:

  • All companies incorporated under the Companies Act, 1956 and having a paid up capital of Rs 50 million or more, or a turnover of Rs 1,000 million or more
  • All companies that are listed in an Indian stock exchange (NSE/BSE) and their Indian subsidiaries irrespective of their capital or turnover


How to file your e-Form successfully?

Despite being a yearly process, there can be some glitches that one can encounter while filing the AOC forms to MCA.

Here are a few tips to help you file successfully.

  • Always download the AOC-4 form newly from MCA website.
  • Attach the instance document correctly. XBRL file should always be *.xml format.
  • Do not rename or open any xml files generated from your software or supplied by your service provider.
  • Ensure the XBRL is submitted on the same day as the day of validation with MCA. Any delay can lead to the error message “ Latest instance document should be attached with the AOC-4 form”
  • Choose the appropriate taxonomy/accounting standard and ensure mandatory fields are filled properly with appropriate information.
  • Example: If the accounting standard adopted is In IGAAP, your selection on AOC form should be “AS Taxonomy”. If it is IND AS, then the selection on form should be “Ind-AS Taxonomy”. Incorrect selection can lead to submission failure.


Frequently encountered errors or failure notices:

  • “Latest Instance Document not attached”:
    • Always Download forms from newly submitted e-forms available at the website of the Ministry of corporate affairs. Mismatch between the forms may lead to incorrectness.
  • “Pre Scrutiny error”:
    • Once the e-form is filled you’ll have to press the Check form option and then check on Pre Scrutiny option. In case of any inconsistency it might throw error such as digital signatures unsigned which should not cross the size beyond 6 MB, only class 2 or equivalent class preferable.
  • “Data filled in the form is not viewing after pre- scrutiny”:
    • Could be because of mandatory fields not filled from the client end.
  • SRN of a form is marked as ‘Defective” :
    • Such forms are required to be filed afresh after rectifying the defects/ incompleteness.


AOC-4 XBRL : Penalty for Late Filing

As per the latest rules, for delayed filing of AOC-4 , a penalty of INR 100 per day is payable.

For non-filing of AOC-4 , a company can be penalized at INR 10,000 a day upto a maximum of INR 10 Lakhs, and the managing directors and CFOs penalized at INR 1 Lakh + INR 100 per day upto a maximum of INR 5 Lakhs.

Engaging DataTracks to handle your XBRL work can help ease the stress of meeting filing deadlines without compromising on quality, and at competitive rates.

Write to us on or contact us on +91 44 4208 1719 to know more.

DataTracks, a global leader in regulatory compliance reporting solutions, has been in business since 2005 and has helped prepare more than 172,000 reports since inception. DataTracks provides fully assisted services in selected regulatory regimes where inputs provided by clients in traditional formats are converted to HTML, XML, XBRL or iXBRL formats.

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