In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal.
According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.
The professionals sat outside registrar offices in Jaipur and Chandigarh, shouting “We want justice.” A group of professionals also visited Shastri Bhawan, where the office of the MCA is located.
A senior government official told Business Standard that there is no deadline for filing financial statements, and instead, there is a 30-day period, which starts after the AGM is held.
“Our portal was working every day. We have seen an increased number of filings in the last few days compared to earlier weeks,” the senior official said.
Since 2014, after the Companies Act 2013 came into effect, there has been an extension of the deadline for holding the AGM or exemption of penalty for late submission nearly every year.
Last year, the last date for AGM was extended to November 30 and filing fee was exempted till February 2022.
In 2020, due to the pandemic, all filing deadlines were increased till December 2020 without penalty.
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