The Ministry of Corporate Affairs (MCA) launched a new version of the AOC-4 form for the financial year ending March 31, 2025, on the MCA V3 portal. This update brings crucial changes designed to simplify the filing process, improve data accuracy, and ensure seamless compliance for companies. In this article, we will address frequently asked questions about the new AOC-4 form, highlighting key updates, mandatory fields, and practical tips for smooth filing. Whether you're a corporate professional or an auditor, this guide will help you navigate the revised form with ease and confidence.
We have been receiving numerous queries from professionals and corporates across the country regarding the new AOC-4 form, particularly concerning
i. Whether we should file it online or offline?
ii. Whether in the e-Directors Report or the Auditors Report, we can mention it as mentioned in the PDF file or refer to this clause of the PDF file.
iii. Is it still mandatory to attach a PDF of the auditor's report and the director's report?
iv. Some points of the Director's Report have a character limit. How to fill them?
v. Some points of the e-directors' report do not apply to small companies. How to fill them?
vi. Whether financials can be signed as SD/- instead of an actual signature.
vii. Whether it is mandatory to mention the address of the director below their address?
viii. Is AOC 4 an STP form or a non-STP form?
ix. Whether AOC-4 can be revised?
Question 1: Whether should we file it online or offline?
AOC-4 on the MCA V3 portal offers both online and offline filing options. However, due to the length and complexity of the form, it is advisable to choose the offline mode. The offline mode allows you to download the form, fill it out, and upload it once completed, providing more flexibility and time to ensure all the necessary details are accurately entered.
Question 2: Whether in the e-Directors Report or the Auditors Report, can we mention it as mentioned in the PDF file or refer to this clause of the PDF file?
You should refer to the relevant clause or section of the directors' or auditors' report as per the contents in the PDF file. Then copy and paste the whole thing into the e-Directors Report and the auditors' report. The report can be mentioned in a summarised form with appropriate references in the e-form, where there is a character limit. But only mentioning references can be considered as noncompliance.
Under Section 447 of the Companies Act, if it is found that the documents were intentionally misleading or fraudulent, the penalties can be more severe, including imprisonment.
Question 3: Is it still mandatory to attach a PDF of the auditor's report and the director's report?
Yes, the PDF of the Auditors' Report and Directors' Report must still be attached in the e-filing of AOC-4. This is essential for submission as per the new MCA V3 filing process, and they are required for compliance verification.
Question 4: Some points of the Directors' Report have a character limit. How to fill them?
If there is a character limit for certain sections in the e-Directors' Report, you should summarize the content as briefly and clearly as possible, ensuring it captures the essential points. For detailed content that exceeds the limit, you can provide a reference to the full report in the form along with summarized matter.
Question 5: Some points of the e-directors report are not applicable to small companies. How to fill them?
Answer: If certain sections in the e-Directors' Report are not applicable to a small company, these fields should be mentioned as "Not Applicable."
Question 6: Whether financials can be signed as SD/- instead of an actual signature?
Answer: No, the financials should not be signed as "SD/-." The financials require a proper signature using the manual signature or Director's DSC (Digital Signature Certificate).
Question 7: Whether is it mandatory to mention the address of the director below their address?
Answer: Yes, it is mandatory to mention the address of the director along with their name and DIN in the Directors' Report and other financial statements submitted to the ROC. Recently, there have been several cases where the Central Processing Centre (CPC) has requested resubmission of balance sheets due to the omission of the director's address. Therefore, to ensure compliance and avoid resubmission requests, it is important to include the director's address in all relevant documents.
Question 8: Is it an AOC-4 STP form or a non-STP form?
Answer: The AOC-4 form under the new MCA V3 system is a conditional STP (Straight Through Process) form. In some cases, it is processed automatically by the MCA without manual intervention, provided the information is correct and complete. However, in certain instances, it may not follow the STP process and require manual intervention. The MCA has not openly disclosed the specific cases where AOC-4 would be classified as non-STP, leaving these conditions unclear for corporates. Therefore, it is essential to ensure the form is accurately filled to minimize the chances of manual review.
Question 9: Whether AOC-4 can be revised?
Answer: AOC-4 cannot be revised by simply filing a new form. The revision process for AOC-4 involves a complete procedure and requires approval from the ROC. The company must submit certain documents to the ROC for the revision. It is not possible to revise the AOC-4 directly on the MCA portal by the company itself. The necessary steps and approval process must be followed to make amendments or corrections to the previously filed AOC-4.
Conclusion
The new AOC-4 form under the MCA V3 portal brings crucial updates to enhance compliance, accuracy, and ease of filing for companies. As we've explored in this article, it is essential for professionals to understand the intricacies of the form and ensure all fields are filled correctly to avoid delays and penalties. From choosing the right filing mode to complying with mandatory document attachments, each step plays a vital role in seamless compliance. By following the guidelines provided, you can navigate the revised AOC-4 filing with confidence, ensuring smooth submission and a hassle-free process. Stay informed, stay compliant, and ensure your company's filings are always on time and error-free.
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