{"id":56273,"date":"2023-05-04T18:30:58","date_gmt":"2023-05-04T13:00:58","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=56273"},"modified":"2023-05-04T18:31:00","modified_gmt":"2023-05-04T13:01:00","slug":"what-is-form-aoc-5","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/","title":{"rendered":"What is Form AOC-5?- An Overview"},"content":{"rendered":"\n<p>Having a registered office, which serves as\nthe company&#8217;s proof of address, is one of the essential conditions for creating\na business. Before opening a business in a rented space, it is typical for\nstart-ups to have a registered office at the promoter&#8217;s home. Due to shifting\nbusiness locations based on demand and cash outflow, enables the organisation to\nmaintain the same address. As a result, the actual location of the firm is\ndistinct from the registered office address because this is where all business\noperations are carried out. Similar to books of accounts, books of accounts are\nkept somewhere other than the registered office for various reasons. In this\narticle, the author has discussed Form AOC-5 and how it relates to a company&#8217;s\nbooks of accounts.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#What_Do_We_Mean_By_Books_Of_Accounts\" >What Do We Mean\nBy Books Of Accounts?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#What_Are_The_Essentials_Of_AOC-5\" >What Are The Essentials Of AOC-5?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#Laws_Pertaining_To_Maintaining_Books_of_Accounts\" >Laws Pertaining\nTo Maintaining Books of Accounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#Penalty_for_Non-Compliance_of_Section_128_Companies_Act\" >Penalty for Non-Compliance of Section 128 Companies Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#Recent_development\" >Recent\ndevelopment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-aoc-5\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Do_We_Mean_By_Books_Of_Accounts\"><\/span>What Do We Mean\nBy Books Of Accounts?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to Section 2(13) of the Companies Act of 2013, &#8220;Books of Accounts&#8221; refers to records kept regarding:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"681\" height=\"214\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2023\/05\/afafaf.png\" alt=\"What Do We Mean By Books Of Accounts?\" class=\"wp-image-56275\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2023\/05\/afafaf.png 681w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2023\/05\/afafaf-300x94.png 300w\" sizes=\"(max-width: 681px) 100vw, 681px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Essentials_Of_AOC-5\"><\/span>What Are The Essentials Of AOC-5?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following details or papers must be\nincluded with Form AOC-5 in order for it to be appropriately filed. The\nfollowing information is needed for Form AOC-5:<\/p>\n\n\n\n<ul><li>The company&#8217;s <strong><a href=\"https:\/\/corpbiz.io\/cin-corporate-identification-number\">Corporate Identification Number<\/a><\/strong> (CIN).<\/li><li>The date on which the BODs or Board of Directors made its decision regarding the location where the books of account are to be kept.<\/li><li>The new address where the accounting records must be kept.<\/li><li>Details or specifics about the police station that has jurisdiction over the location where the accounting records must be kept.<\/li><li>The Registrar of Companies would approve Form AOC-5 because it is on the Non-STP Mode.<\/li><li>The Company&#8217;s Director, Manager, CEO, CFO, and Company Secretary must digitally sign Form AOC-5.<\/li><li>No professional qualification is needed for Form AOC-5.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Laws_Pertaining_To_Maintaining_Books_of_Accounts\"><\/span>Laws Pertaining\nTo Maintaining Books of Accounts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Following are the laws pertaining to\nmaintaining books of accounts:<\/p>\n\n\n\n<ul><li><strong><em>Section 128 <\/em>of the Companies Act of 2013<\/strong><\/li><\/ul>\n\n\n\n<p>Every company will establish and\nmaintain &#8220;books of account&#8221; for its registered office, as well as any\nadditional related books and papers, such as a financial statement for each fiscal\nyear that provides a correct view of the cases of the company as well as any\nbranch office(s) that may exist. The registered office and its branches will\nelaborate on the transactions made, and these books will be maintained on an\naccrual basis as per the double-entry system of accounting.<\/p>\n\n\n\n<p>All or any of the former books of\naccount and additional related papers may be kept at another other place since\nthe board of directors may decide where the decision would be made, so within a period of seven (7) days, the company will provide the registrar with a written\nnotice identifying the location of the other place:<\/p>\n\n\n\n<p>The corporation may maintain these\naccount books or any additional related documents electronically using the way\nthat may be determined.<\/p>\n\n\n\n<p>In accordance with <em>Section 128<\/em> of the 2013 Companies Act and the 2014 Companies\n(Accounts) Regulations, as modified from time to time:<\/p>\n\n\n\n<ul><li>A firm must only maintain its financial statements, pertinent books and documents, and accounting records at its registered office.<\/li><li>Books must be kept using the double entry method of accounting and accrual basis.<\/li><li>Both hard copy and electronic formats are available.<\/li><li>In the event of electronic records, the company must annually submit a financial statement together with information about the service provider, including name, IP address, location, and address. <\/li><li>The Board of Directors may also elect to keep any or all of these accounting documents elsewhere in India. However, in this situation, e-Form AOC-5 must be submitted within seven (7) days of the Board resolution being passed, indicating the entire address of the location.<\/li><li>Books can only be held at the branch office      for branches (in or outside of India) if summarised returns are forwarded      to the registered office on a regular basis (Every quarter in case of      Foreign Branches based outside India)<\/li><li>Books and vouchers must be retained in good condition for the eight years immediately prior to the applicable year.<\/li><\/ul>\n\n\n\n<ul><li><strong>Rule \u2013 2A, Companies (Accounts) Rules of 2014<\/strong><\/li><\/ul>\n\n\n\n<p>The notice for the address at which the books of account may be maintained will be in Form AOC-5, in order to achieve the purpose of the first proviso to sub-section (I) of section 128.<\/p>\n\n\n\n<ul><li><strong>Section 2(13) of the Companies Act of 2013<\/strong><\/li><\/ul>\n\n\n\n<ul><li>The &#8220;Books of Accounts&#8221; consists of records that are kept about all sums of money that the company has received and spent, as well as the instances that the payments and expenditures relate to.<\/li><li>All transactions, purchases of products and services made through the business.<\/li><li>Assets and liabilities of corporations.<\/li><li>The price of the item as it may be specified under <em>Section 148<\/em> in the case of a company that belongs to any of the types of firms listed therein.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Penalty_for_Non-Compliance_of_Section_128_Companies_Act\"><\/span>Penalty for Non-Compliance of Section 128 Companies Act<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When\na company&#8217;s managing director, whole-time director, chief financial officer, or\nother responsible person violates a section&#8217;s provisions, they face the\nfollowing penalties from the board:<\/p>\n\n\n\n<ul><li>A term that may last up to\none year;&nbsp;<\/li><li>A fine that must not be\nless than 50,000 rupees but might reach 5,000,00,000 rupees;&nbsp;<\/li><li>Or both<\/li><\/ul>\n\n\n\n<p>That\nis one of those provisions that many businesses may wind up breaking without\neven realising it. Thus, the Company shall immediately take any of the\nfollowing actions if its Books of Accounts are not at its registered office:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_development\"><\/span>Recent\ndevelopment <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The\nCompanies (Accounts) Amendment Rules, 2023 have been changed by the MCA as of\nJanuary 23, 2023, making it necessary to submit Form AOC-5 electronically along\nwith evidence of address, copies of utility bills, and a photo of the registered\noffice showing at least one director (Notice of address at which books of\naccount are to be Maintained)<\/p>\n\n\n\n<p>The\nCompanies (Accounts) Amendment Rules of 2023 have been made public by the <strong>MCA<\/strong><sup><a href=\"https:\/\/www.mca.gov.in\/\"><strong>[1]<\/strong><\/a><\/sup>. The E-Form AOC-5 (Notice\nof Address at Which Books of Account Are to Be Kept) has been changed in\naccordance with the updated standards. It is now required to include Form AOC-5\nwith evidence of address, copies of the utility bill, and a picture of the\nregistered office with at least one director in it. Before, simply the board\nresolution was necessary to attach. The new rules will take effect on January\n23, 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As\na result of our discussion of all the issues surrounding Form AOC-5, it is\nclear that every firm is obligated to keep its books of accounts and other\npaperwork at its registered office. If the board decides, these documents can\nonly be maintained in the registered office. In this case, the registrar of\ncompanies is informed of the address using the Form AOC-5.<\/p>\n\n\n\n<p>Every company is required to keep books of account and any other papers at the company&#8217;s registered office under the provisions of the Companies Act of 2013. But, if the board decides, these documents may be held anywhere other than the registered office. The Form AOC-5 is used in this circumstance to inform the Registrar of Companies (ROC) of the address (other than the register office) where the company&#8217;s books of account and other pertinent documents will be stored.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/procedure-of-filing-annual-return\/\">Procedure Of Filing Annual Return: A Complete Guide<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having a registered office, which serves as the company&#8217;s proof of address, is one of the essential conditions for creating a business. Before opening a business in a rented space, it is typical for start-ups to have a registered office at the promoter&#8217;s home. Due to shifting business locations based on demand and cash outflow, [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":56276,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154],"tags":[3564],"acf":{"service_id":"1"},"authorName":"Astitva Kumar","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-27.jpg","authorDescription":"Astitva Kumar is an advocate by profession and has completed her BBA. LLB from IP University. She is an avid reader, researcher, and legal writer. Her areas of interest include mediation, conflict resolution, finance, cyber laws, and taxation.","postViews":3892,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56273"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=56273"}],"version-history":[{"count":2,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56273\/revisions"}],"predecessor-version":[{"id":56278,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56273\/revisions\/56278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/56276"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=56273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=56273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=56273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}