Financial Statements for Telangana Companies: Deadlines, ROC Hyderabad and Local Disclosures

Financial statements follow the same national format everywhere — Schedule III of the Companies Act. But for a company registered in Telangana, the filings go to ROC Hyderabad, and several balances in the accounts come from state-level obligations. This guide covers the local side.

Filing With ROC Hyderabad

A Telangana company's audited financial statements are filed online in AOC-4 within 30 days of its AGM, and processed by the Registrar of Companies, Hyderabad. If the company has subsidiaries, associates or joint ventures, it also files consolidated statements in AOC-4 CFS.

If the Accounts Won't Be Ready in Time

The AGM, where the statements are adopted, must be held by 30 September. If the audit is running late, a Telangana company can apply to ROC Hyderabad in Form GNL-1, before the deadline, for an extension of up to three months. The extension isn't available for a company's first AGM, and is granted only for special reasons.

State Balances That Show Up in the Accounts

Several items in a Telangana company's balance sheet come from state obligations, and should be reconciled before the statements are finalised:

• Telangana State GST payable or receivable, and input tax credit balances split between CGST, SGST and IGST.
• Professional Tax deducted from employees but not yet paid.
• Property tax and trade licence dues to GHMC or the local municipality.
• Stamp duty on property or lease documents, capitalised or expensed as appropriate.

Contingent Liabilities

Pending demands or disputes with the Telangana Commercial Taxes Department — over older VAT assessments, GST, or Professional Tax — should be considered for disclosure as contingent liabilities, or provided for if payment is probable.

MSME Dues

Telangana has a large base of micro and small enterprises, and many Telangana companies buy from them. Schedule III requires disclosure of dues to micro and small enterprises, and interest payable on delayed payments under the MSMED Act. Knowing which of your suppliers are Udyam-registered is the starting point.

Government Grants and Incentives

Companies that receive state industrial incentives — such as capital or power subsidies, or tax reimbursements under state industrial policies — need to account for them correctly as government grants, and disclose any conditions attached.

A Checklist for Telangana Companies

1. Reconcile GST balances by component and by GSTIN.
2. Clear or disclose Professional Tax and local dues.
3. Review pending state tax disputes for contingent liabilities.
4. Identify MSME suppliers and disclose dues.
5. Account for any state incentives received.
6. Plan the audit to finish before 30 September, or apply to ROC Hyderabad for an extension in time.

Getting Help

Think Filing prepares financial statements for Telangana companies and files them with ROC Hyderabad, including consolidated statements where needed.