Whether Authorised and Paid-up capital as mentioned in form MGT 7 as on 31st March will effect the master data of Company? Data will be change in roundoff . how it will get rectify once changed through AOC-4 Filing?
MCA has given one clarification on 26-09-2022 that “Amendment to Schedule III to the Companies Act, 2013 vide MCA Notification GSR. 207(E) dated 24th March 2021 mandates companies to round off the figures appearing in the Financial Statements depending upon their total income. However, if the companies provide absolute figures in e-forms i.e. AOC-4, the same shall not be treated as incorrect certification by the Professionals”.
But no clarification came for filing of AOC-4 XBRL forms.
In XBRL, there is always an option to rounding off figures . So our query is whether we should give only rounded off figures in XBRL filing to comply with MCA Notification GSR. 207(E) dated 24th March 2021 or we can give actual figures there also as we are giving in AOC-4 form?
We have to compulsorily round off the Figures in your financial statements.
for companies over 100 Crores, it is Lakhs, Millions, or Crores or 100 Crores
for companies below 100 crores, it is hundreds, thousands, lakhs or crores
But in case of loss what to do ?
In an LLP, there are 36 partners and their actual contribution is of Rs.85,000/- each. Instead in the system it shows total contribution as 50 Crs and two DP contribution is of 24.97 Crs each and the rest 34 partners contribution is 15,000 only.
These members were first admitted by taking a contribution of Rs.15,000/- and thereafter the contriution amount was increased to Rs.85,000/- each. But it appears for this form No.3 & 4 has not been filed.
Now in order to file cessation of a DP, when we tried to file Form No. 3 & 4, this error appeared. Perhaps in the past somebody wrongly entered the figure of Rs.50 Crs.
How to correct this mistake. It is not possible to file any further form No.3 & 4 without correcting this mistake. Please advice.
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