Form 23AC: Complete Guide to Filing Balance Sheet with the Registrar
Form 23AC is a legacy web form filed under the Companies Act, 1956, used by a company to file its balance sheet and other documents with the Registrar of Companies. It is governed by Section 220 of the Companies Act, 1956 read with Rule 7B.
The form must be filed with mandatory attachments within the prescribed time period after the AGM is held. It cannot be filed, for financial years ending on or after 31 March 2011, by listed companies, subsidiaries of listed companies, companies with paid-up capital of ₹5 crore or above, companies with turnover of ₹100 crore or above, or companies that filed Form 23AC-XBRL for a financial year starting on or after 1 April 2011 — such companies are instead required to file in XBRL format.
Note: Form 23AC relates to the repealed Companies Act, 1956. It remains relevant only for historical/pending compliance under that Act; balance sheet filings under the current regime are made using Form AOC-4 under the Companies Act, 2013.
Who Should File Form 23AC / When is it Filed
Every company required to file its balance sheet with the ROC (other than those mandated to file in XBRL format via Form 23AC-XBRL) must file Form 23AC within 30 days from the AGM date (60 days for a Producer Company), or the calculated latest due date of the AGM, whichever is earlier.
Important Checkpoints Before Filing
- Applicant must be registered as a Business User on the MCA portal; company must hold a valid CIN
- The signing authority must hold a valid, non-expired, non-revoked DSC, registered against the DIN/PAN/Membership number provided
- Filing is not allowed if the period entered overlaps the financial year period of any other approved annual filing webform (20B/21A/23AC/23AC-XBRL/66)
- ‘Previous reporting year’ date must be entered if an earlier 23AC/23AC-XBRL was filed with an earlier FY start date
- A second Form 23AC cannot be validated for the same financial year end date if another 23AC/23AC-XBRL is already approved or pending, unless the earlier one was marked ‘Defective’
- If any other annual filing webform (20B/21A/23AC-XBRL/66) is validated but not filed, proceeding with this webform nullifies the other’s validation
- AGM date, due date of AGM, and extended due date must match those in webform 20B/21A/66 for the same financial year end date
- Dates entered must generally be on or after the date of incorporation, and on or before the system date (subject to specified field exceptions)
- SRN of Form 66 (or ‘Z99999999’) is mandatory in field 7 if paid-up capital ≥ ₹10 lakh and the company has no secretary as on the financial year end date, subject to specified capital thresholds
- SRN of Form 23B entered in field 10(g) must be approved and non-defective, unless ‘Z99999999’ is entered
- Paid-up capital cannot be less than ₹1 lakh for a private company limited by shares, or ₹5 lakh for a public company limited by shares (not applicable if the balance sheet date is before 1 January 2003)
- Filing is barred, for FY ending on or after 31 March 2011, for listed companies, their subsidiaries, companies with paid-up capital ≥ ₹5 crore, companies with turnover ≥ ₹100 crore, and companies that filed 23AC-XBRL for FY starting on/after 1.4.2011
- Auditor membership number entered must be valid per the ICAI database, where available
- The practicing professional certifying the form must not be debarred
- CIN status must not be Strike Off, Amalgamated, Converted to LLP, Dormant, Dissolved, Liquidated, Not available for eFiling, Under process of Strike off, Under Liquidation, Captured, or To be Migrated
Step-by-Step Filing Process
- Access the MCA homepage and login with valid credentials (or search for Form 23AC via the homepage search bar)
- Select MCA Services → Company e-Filing → Companies Act 1956 Forms → Form-23AC
- Enter CIN information
- Fill up the application, including SRNs of Form 66 and Form 23B where applicable
- Save the webform as a draft (optional)
- Submit the webform and note the SRN
- Affix the DSC
- Upload the DSC-affixed PDF on MCA portal
- Pay Fees
- Receive acknowledgement
Signing Requirements
- Digitally signed by an authorised signatory with a valid, non-expired, non-revoked DSC registered against their DIN/PAN/Membership number
- Certification by a practicing Company Secretary, Chartered Accountant, or Cost Accountant, as applicable
Fee Structure
Normal Fee
| Contribution Amount (INR) | Normal Fee (INR) |
|---|---|
| Less than 1,00,000 | 200 |
| 1,00,000 to 4,99,999 | 300 |
| 5,00,000 to 24,99,999 | 400 |
| 25,00,000 to 99,99,999 | 500 |
| 1,00,00,000 or more | 600 |
Companies not having share capital: ₹200
Additional (Delay) Fee — Event date: AGM date/due date (whichever earlier); time limit: 30 days (60 days for Producer Company)
For delays beyond 30 June 2018:
| Delay | Fee |
|---|---|
| Beyond period under Section 92(4) of the (2013) Act | ₹100 per day |
| Beyond period under Section 137(1) of the (2013) Act | ₹100 per day |
For belated filings up to 30 June 2018:
| Period of Delay | Additional Fee |
|---|---|
| Up to 30 days | 2× normal fee |
| More than 30 up to 60 days | 4× normal fee |
| More than 60 up to 90 days | 6× normal fee |
| More than 90 up to 180 days | 10× normal fee |
| More than 180 days | 12× normal fee |
Processing Mode
Form 23AC is processed in STP mode — taken on record electronically without further processing. There is no provision for resubmission.
Useful Links
- Link to access Form 23AC
- FAQs related to e-filing: MCA document repository (link not independently confirmable — see MCA e-filing FAQ section)
- Payment and Fee related services: available via the MCA portal’s payment services section
Frequently Asked Questions (FAQs)
Q1. Who must file Form 23AC? Companies filing their balance sheet with the ROC that are not mandated to file in XBRL format via Form 23AC-XBRL.
Q2. What is the filing deadline? 30 days from the AGM date (60 days for a Producer Company), or the calculated latest due date of AGM, whichever is earlier.
Q3. Which companies are barred from using Form 23AC? Listed companies and their subsidiaries, companies with paid-up capital ≥ ₹5 crore or turnover ≥ ₹100 crore, and companies that filed 23AC-XBRL for FY starting on/after 1 April 2011 — such companies must file in XBRL format instead.
Q4. Are SRNs of other forms required while filing 23AC? Yes — SRN of Form 66 (field 7) and Form 23B (field 10g) are required, subject to specified conditions, or ‘Z99999999’ where the exemption applies.
Q5. Is Form 23AC processed automatically? Yes, it is processed in STP mode with no provision for resubmission.
Disclaimer
This article is based on the official Instruction Kit published by the Ministry of Corporate Affairs (MCA), Government of India. While every effort has been made to ensure accuracy, the content is intended for general guidance purposes only. MCA forms, rules, and fee structures are subject to change through amendments to the Companies Act, 2013 or notifications issued thereunder.
In case of any inconsistency or doubt, readers are advised to refer to the official MCA helpkit and resources available on MCA website.