MCA Clarifies Linked Filing Requirement for Form AOC-4 XBRL Under V3 Portal

This means that companies required to file their annual financial statements in XBRL format are not required to attach or file the following documents:

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• Form AOC-1 (statement containing salient features of financial statements of subsidiaries)
• Form AOC-2 (disclosure of related party transactions)
• Extract of the Board’s Report
• Extracts of the Auditor’s Reports (both standalone and consolidated)

This change challenges the earlier norm of extensive linked filings, potentially reducing the administrative burden for businesses particularly for those companies that are listed on stock exchanges or have a turnover exceeding Rs. 100 crore, who are required to file financials in XBRL format under the Companies (Filing of documents and Forms in XBRL) Rules, 2015.

By limiting the linked filing to CSR-2 alone, the MCA aims to simplify compliance, reduce redundancy, and streamline electronic filing under the V3 system. This update is expected to ease the process for corporates that fall under mandatory XBRL reporting, enhancing efficiency in statutory reporting and reducing the risk of filing errors.

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Companies subject to CSR provisions should still ensure timely and accurate filing of Form CSR-2 as part of their AOC-4 XBRL submission. For all others, this change brings much-needed relief from additional form preparation and attachment.

Take note of this update while preparing their financial filings for the financial year 2024-25 and beyond.

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