Search results
amendments in Schedule III to the said Act with effect from 1st day of April, 2021, namely:- In the said Schedule,- (a) in Division I,- (i) under the heading “General instructions for preparation of Balance Sheet and statement of Profit and Loss of a company”, under sub-heading “General instructions”, in paragraph 4,
- 564KB
- 43
- Promoter’s shareholding: The note on Share Capital in the Financial Statements shall mention details of the Shareholding of the Promoters along with changes, if any, during the Financial Year as per the below format
- Trade Payables ageing schedule: The note on Trade Payables due for payment by the company shall consist of an ageing schedule “Trade payables due for payment”
- Trade Receivables ageing schedule: The note on Long Term Trade Receivables in Other non -current assets due for payment to the Company shall consist of an ageing schedule as follows
- Title Deed of Immovable Property not held in name of the Company. The company shall provide the details of: all the immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee)
Aug 25, 2022 · Learn about the changes in Schedule-III of Companies Act 2013 effective from FY 2021-22 for financial statements of IGAAP, IND AS and NBFC companies. See the impact of amendments on rounding off, non-current assets, shareholding, long-term borrowings, trade payables, revaluation and more.
- Amendment to Division I
- Amendment to Division II
- Amendment to Division III
The amendments to Division I are smaller changes and mostly relate to the words used in the Balance Sheet of an AS compliant company like the replacement of the word “Fixed assets” under “Non-current assets” with “Property, Plant and Equipment”.
For Ind AS compliant companies, several amendments have been made. The following are the amendments that are brought for Ind AS compliant companies in respect of preparation and presentation of their financial statements: 1. Trade Payables under the heading “Equity and Liabilities” will disclose the trade payable to micro and small enterprises and ...
Financial Statements for an NBFC whose financial statements are drawn in compliance with the Companies (Indian Accounting Standards) Rules, 2015. NBFC that must comply with Indian AS – General Instructions 1. Every NBFC in the Companies (Indian Accounting Standards) (Amendment) Rules, 2016 that is companies to which the Indian Accounting Standards ...
The MCA through a notification dated 24 March 2021 has issued certain amendments to Schedule III to the 2013 Act. Key Amendments are divided into three divisions: DIVISION I. For companies whose financial statements are required to comply with Companies (Accounting Standards) Rules, 2006. DIVISION II.
Apr 1, 2021 · The Ministry of Corporate Affairs, Government of India, issued notifications dated 24 th March, 2021 to amend Schedule III to the Companies Act, 2013 to enhance the disclosures required to be made by the Company in its Financial Statement. Purpose of Amendment:
Aug 10, 2021 · MCA amends Schedule III of Companies Act on disclosure norms in financial statements. In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate ...
