This year New Schedule VI has been made applicable on companies to prepare its financial statements. The ROC is in the process of finalising new Form 23AC & 23ACA incorporating the changes. In view of the same non-xbrl companies are permitted to file Annual Balance Sheet and Profit & Loss Account in Form 23AC & 23ACA without any additional fees or penalty by 15th September, 2012 if the due date of filing is before 15th September. After 15th September the normal rules will apply. The text of the notification is provided below for your reference.
General Circular No 21/2012
File No. 17/160/2012-CL-V; Government of India; Ministry of Corporate Affairs; Dated02/08/2012
All the Regional Directors, All the Registrar of Companies
Sub: Filling of Balance Sheet and Profit and Loss Account by Companies in Non- XBRL for accounting year commencing on or after 01.04.2011.
Notification no. S.O-447 (E) dated 28.02.2011 on revised schedule VI is effective from 1st April 2011. The current year filing is based on revised schedule VI is due for filing. The revised form 23AC & ACA is under finalization and will be notified shortly on the MCA website.
All companies who are required to file non XBRL eform 23AC & ACA as per revised schedule VI be allowed to file their financial statement without any additional fee/penalty upto 15th September 2012 or within 30 days from the date of their AGM, whichever is later.
Sanjay Kumar Gupta