Section 128 of the Companies Act, 2013 [Books of Accounts other than Registered Office] By CS Khushi Bhatt


Maintaining of Books of Accounts at Place other than Registered Office of the company

As per Section 128 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 states that every company shall keep books of account, important papers and statement at the registered office of the company. This books of account should be kept on an accrual basis (as occurred) and as per the double entry accounting system. Such books of account can also be maintained in electronic form.

There should be proper form and storage for maintaining the same in electronic form. On annual basis, one needs to submit the information- service provider’s name, IP address, a location of a service provider, etc. This documents should be open for inspection at the registered office of the company during business hours. All the books must be maintained for 8 financial years. In case Central government orders than in such case it has to be maintained as deemed fit.

In case the financial statements are maintained outside India, then the copies of the same should be provided during an inspection in quarterly intervals. If director requires any financial statement maintained outside India then the director has to inform the company and company shall submit the same /entertain the same request and furnish the details within 15 days of the receipt of the request.

One has to keep books and records at the actual business place but in case the company wants to maintain at any place other than the registered office of the company than one needs to file AOC-5 to ROC within 7 days as decided by Board of Directors along with the board resolution.

In case the company is having a branch than the books can be maintained at branch itself and the returns to be sent on a quarterly basis.
 
Attachments to the form:

1) Board resolution’s copy

2) Any other optional attachment as required
 
Non-Compliance:

In case the company doesn’t comply then fine of minimum  Rs.50,000/ and maximum uptoRs. 5,00,000/- or imprisonment upto 1 year or both to Managing Director/Whole-time Director /CFO.
 
Fees:

Share Capital

Fees

< 1 Lacs

Rs. 200 Per Document

1 Lacs-5 Lacs

Rs. 300 Per Document

5 Lacs-25 Lacs

Rs. 400 Per Document

25 Lacs-1 Crore

Rs. 500 Per Document

>1 Crore

Rs. 600 Per Document

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  • Very Important Compliances as many Company not doing while mentioning in AOC-4 they Maintaining of Books of Accounts at Place other than Registered Office of the company

    06-02-2019 / 02:27:00 PM
    Reply