MCA has issued three Notification on  4th September, 2015 and has brought some changes. In this article we have discussed those change for easy understanding of our readers :-

Notification regarding sub-section (6) of section 129 of the Companies Act, 2013 (18 of 2013)

Notification regarding sub section (6) of section 129 of the Companies Act, 2013 (18 of 2013) which is in relation to Power of Central Government to exempt certain class of companies hereby exempt Government companies producing defence equipment’s including the space research to file Additional Information of the general instructions for the preparation of statement of profit and loss in Schedule III (General Instructions for preparation of balance sheet and statement of Profit and Loss of a company) of Companies Act , 2013 subject to fulfillment of certain conditions.

Notification regarding sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013)

Notification regarding sub section (1) of section 467 of the Companies Act 2013 (18 of 2013) the following changes have been made :

  • ​ ​Alteration in Schedule III in Part I Balance sheet under the heading “Equity and liabilities” for the term trade payables the following shall be substituted :
    • Trade payables :
    • Total outstanding dues of micro enterprises and small enterprises.
    • Total outstanding dues of creditors other than micro enterprises and small enterprises.
  • Addition of five points have been inserted in Notes which is in relation to Micro, Small and Medium Enterprises.

Companies (Accounts) Second Amendment Rules, 2015;

Companies (Accounts) Second Amendment Rules, 2015 have been introduced after further amending the Companies (Accounts) rules, 2014.This notification brought the following changes:

MCA has released the contents of the much awaited forms

  • AOC -4[Earlier Forms 23 AC & 23 ACA]- Form for filing Financial Statements & other documents with the Registrar

&

  • AOC – 4 CFS[Earlier Forms 23 AC & 23 ACA]- Form for filing Consolidated Financial Statements & other documents with the Registrar,

With certification by CA/CS/CMA.

  • Term “Indian Accounting Standards” will have the same meaning as prescribed in rule 3 & annexure to the Companies (Indian Accounting Standards) Rules, 2015.
  • Financial Statement shall be prepared in the form specified in Schedule III to the Act and also required to comply with the Accounting Standards or the Indian Accounting Standards.
  • The requirement of furnishing information & details as per rule 8(3) of Companies (Accounts) Rules, 2014 shall not be applicable to Government Company engaged in producing defence equipment.
 (Compiled by Team of My Companies Act.com)

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