XBRL filing Difficulties and Technical Glitches on MCA Portal: ICSI requests MCA to Extend Filing Deadline of various Annual Forms

The Institute of Company Secretaries of India (ICSI) requested the Ministry of Corporate Affairs (MCA) to extend the filing deadline for various annual compliance forms, including AOC-4 (XBRL) and MGT-7, to December 31, 2024. The request was made due to technical glitches on the MCA portal and the complex nature of XBRL filing, which requires precise tagging and data formatting. The festive season, including Diwali and Bhai Duj, also contributed to delays. The ICSI highlighted the increased compliance burden due to recent form changes and mandatory MSME filings. The extension aims to alleviate filing pressures and improve compliance rates, allowing companies to meet their regulatory obligations without incurring penalties.