Tue Oct 29 08:39:31 UTC 2024: ## ICSI Urges MCA to Extend Corporate Filing Deadline to December 31, 2024

**New Delhi, India:** The Institute of Company Secretaries of India (ICSI) has formally requested the Ministry of Corporate Affairs (MCA) to extend the filing deadline for several annual compliance forms, including AOC-4 (XBRL), MGT-7, and related filings, to December 31, 2024.

The request comes in response to widespread difficulties faced by companies, particularly due to the complex XBRL filing process and persistent technical issues with the MCA portal during peak filing periods.

ICSI highlights that the XBRL format requires meticulous attention to detail, making the process significantly time-consuming. Additionally, the October filing period coincides with major festivals like Diwali and Bhai Duj, causing traditional business delays and adding to the burden.

The ICSI letter also notes frequent technical challenges on the MCA website, including downtime and slow processing speeds, especially during peak periods. This has hindered timely document uploads and further complicated the filing process.

The recent form changes, including mandatory MSME filings, have further increased the compliance burden for companies.

Citing a similar extension granted by the Central Board of Direct Taxes (CBDT) for income tax return filings, extended to November 15, 2024, the ICSI expressed the need for a comparable relief period for corporate filings under the Companies Act.

The requested deadline extension aims to alleviate filing pressures, improve compliance rates, and enable companies to fulfill their regulatory obligations without incurring penalties.

The ICSI has expressed its willingness to provide further clarification to the MCA, hoping that this extension will address the practical difficulties currently faced by companies and practitioners.

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