MCA notifies the Companies (Accounts)Amendment Rules, 2021.
For the financial year commencing on or after the 1st day of April 2021, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
The Companies (Audit and Auditors) Amendment Rules, 2021.
The report shall contain dividend declared or paid during the year by the company is in compliance with section 123 of the Companies Act, 2013.
MCA direction for payment of remuneration for directors of companies with inadequate profit
If, in any financial year, a company has no profits or its profits are inadequate, the company shall not pay to its directors, including any managing or whole time director or manager or any other non-executive director, including an independent director, by way of remuneration any sum exclusive of any fees payable to directors except in accordance with the provisions of Schedule V.
MCA revises limit of yearly remuneration of a managerial person and other directors
MCA has provided limit of yearly remuneration for all directors. Previously this was only applicable to managerial persons.
Haryana Enterprises Promotion (Amendment) Bill, 2021
All the processing and clearances shall be given to enterprises through the web portal. For all clearances of business entities, online application forms shall be made available through single window on the web portal of Industries and Commerce Department. The business entities shall fill in application forms available on the web portal for grant of clearances.
Board reports shall disclose web-link of companies’ annual return
The amendment provides that every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board’s report.
Companies (Management and Administration) Amendment Rules, 2021
The amendment provides that One Person Company and Small Company shall file annual return in Form No. MGT-7A from the financial year 2020-21 onwards. Every other Company shall file annual return in Form No. MGT-7.
Companies (Incorporation) Third Amendment Rules, 2021
The amendment has revised Form INC-35 AGILE PRO to include the option to perform Aadhar authentication for GSTIN registration.
Government of Rajasthan to charge more than Rs.10, 000 for converting Private Company to LLP.
The registration fees chargeable in excess of rupees ten thousand on the instrument relating to the conversion of partnership firm, private limited company or unlisted public limited company into limited liability partnership or vice versa shall be remitted.
National Company Law Tribunal Chennai bench issues Standard Operating Procedure (SOP) for physical hearing
The SOP provides that only in respect of matters at the final hearing stage, where pleadings are complete, will be allowed to be heard through physical hearing.
