For the purpose of applicability of Accounting Standards (“AS”), The Institute of Chartered Accountants of India (“ICAI”) has classified the entities into two segments – company entities and non-company entities. Non-company entities such as sole proprietors, partnership firms, trusts, Hindu Undivided Families, association of persons and co-operative societies are further classified into various levels. Currently, the ICAI has categorized non-company entities into 3 levels. With increasing number of non-company entities, the ICAI has, now, further classified them into 4 levels.
Tag: MCA
Recent Amendments by MCA
In this edition we have tried to bring to your notice the latest amendments that followed in the month of April 2021 issued by MCA. Amendments issued by MCA Companies (Audit and Auditors) Second Amendment Rules, 2021: In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit
Recent Amendment by MCA and RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of February 2021 issued by MCA and RBI. Amendments issued by MCA Companies (Specification of definitions details) Second Amendment Rules, 2021 In exercise of the powers conferred by the proviso to clause (52) of section 2 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the rules further
Recent Amendment by MCA and RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of January 2021 issued by MCA and RBI. Amendments issued by MCA Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL for the financial year ended on 31.03.2020 under the companies ac, 2013. Read More: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.4_29012021.pdf In exercise of the powers conferred by section 135 and sub-sections (1) and (2) of section 469 of
Recent Amendments by MCA & RBI
In this edition we have tried to bring to your notice the latest amendments that followed in the month of December, 2020 issued by MCA and RBI. Amendments issued by MCA Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020 MCA has amended the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 through Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. Read More: http://www.mca.gov.in/Ministry/pdf/SecondAmdtRules_18122020.pdf Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2020 MCA has notified the Companies (Appointment
Recent Amendments by MCA, RBI and others
In this edition we have tried to bring to your notice the latest amendment that followed in the month of November, 2020 issued by MCA, RBI, DIPP and others. Amendments issued by MCA Extension of LLP Settlement Scheme, 2020 The MCA extends due date of defaulting LLP to file belated documents under LLP Settlement Scheme, 2020. To read more http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.37_09112020.pdf Amendments issued by RBI Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999 The Reserve Bank of India has notified
Amendment by MCA, RBI and SEBI: October 2020
In this edition we have tried to bring to your notice the latest amendment that followed in the month of October, 2020 issued by MCA, RBI and SEBI. Amendments issued by MCA Amendments issued by RBI Amendments issued by SEBI
Amendments by MCA: September 2020
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September issued by MCA. Amendment introduced by MCA Companies (Acceptance of Deposits) Rules, 2020 In exercise of the powers conferred by section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government in consultation with the Reserve Bank of India, hereby makes the following rules further to amend the
Recent Amendment by MCA, SEBI, RBI: August 2020
In this edition we have tried to bring you notice the latest amendment that followed in the month of August issued by MCA, SEBI, RBI and others. Amendment introduced by MCA Amendment of item no. (ix) In the Schedule VII of the Companies Act, 2013 In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments in Schedule VII to the said
Recent Amendment by MCA, SEBI, RBI
In this edition we have tried to cover the latest amendment that followed in the month of July issued by MCA, SEBI, RBI and others. Amendment introduced by MCA Extension of the last date of filing of Form NFRA-2: In continuation of the Ministry’s General circular No. 19/2020 dated 30th April, 2020 and after due examination, it has been decided that the time limit for filing of Form NFRA-2, for the reporting period FY 2018-19, will be 270 days from