MCA Grants Companies Time till December 2025 to File Annual Returns Without Penalty
The Ministry of Corporate Affairs (MCA), through a recently issued notification, has allowed all companies registered in India to file their financial statements and annual returns for the Financial Year 2024-25 (Assessment Year 2025-26) using the newly revised e-forms available on the MCA-21 version 3 portal without paying additional fees.
The ministry said that since new e-forms have been introduced and companies may need some time to understand the new filing process, they have decided to give them extra time. Companies can now file their annual returns for the financial year 2024-25 till December 31, 2025, without paying any late or additional fees.
The newly revised e-forms on which the ministry has provided relaxation are MGT-7, MGT-7A, AOC-4, AOC-4 CFS, AOC-4 NBFC (Ind AS), AOC-4 CFS NBFC (Ind AS), and AOC-4 (XBRL).
A company law expert said many companies are unaware of the new changes in e-forms; hence, this one-time extension will help them adjust to the new requirements. This action is in continuation of the government’s aim to promote ease of doing business in the nation.
Several experts said this decision is a big relief for companies that are still learning how to use the new filing system. The clarification will help them avoid paying large extra fees for delays in filing their annual returns.
The MGT-7 form is used to file a company’s annual return, while the AOC-4 form is a required e-form used to submit a company’s financial statements to the Registrar of Companies (RoC). Some companies have to use AOC-4 (XBRL) to file these financial details and other documents in a special format called XBRL (Extensible Business Reporting Language) with the Ministry.
In the MCA’s notification, the ministry clarified that this circular does not mean there is an extension of time to hold Annual General Meetings (AGMs). Companies must still hold their AGMs within the normal statutory deadline. The ministry said, “The companies which have not adhered to the relevant statutory timelines shall continue to be liable to legal action under the appropriate provisions of the Companies Act.”
