The Companies Act is a legislation that governs the formation, functioning, and management of companies. Explore the key provisions, compliance requirements, and legal framework under the Companies Act.
Company Law : Learn which companies must file MGT-7 or MGT-7A, when MGT-8 certification is mandatory, and how the Companies (Management and Admi...
CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Company Law : Learn how the Companies Act, 2013 regulates managerial remuneration through profit-linked limits, approval requirements, and gover...
Company Law : The article explains that SBI and PNB are statutory bodies created under separate Acts and are therefore not governed by the Compa...
Company Law : The article examines the Hamlin Trust ruling, where the NCLAT held that CFO appointments must satisfy Section 203 eligibility requ...
Company Law : ICSI has urged the MCA to ensure eligible companies comply with Section 203 by appointing Whole-time Company Secretaries. The repr...
Corporate Law : NSO has launched the Annual Survey of Incorporated Services Sector Enterprises (ASISSE) to collect comprehensive economic and oper...
Company Law : ICSI has requested the MCA to grant compliance relaxations following technical disruptions caused by the Data Centre fire. The pro...
Company Law : The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity...
Company Law : Provisional list of audit firms of listed companies yet to file NFRA-2 for 2023-24. Filing deadline was 30.11.2025; fines apply fo...
Company Law : Madhya Pradesh HC dismissed a winding up petition, holding that a bona fide dispute over liability required adjudication before th...
Company Law : The NCLAT held that CFO nominees must satisfy the eligibility requirements under Section 203 of the Companies Act. It set aside th...
Company Law : Where a composite scheme of arrangement satisfies the procedural requirements of sections 230 to 232 of the Companies Act, 2013 an...
Company Law : NCLT Mumbai compounded the offence for failure to hold the AGM within the time prescribed under Section 96 of the Companies Act, 2...
Company Law : The NCLT Ahmedabad refused to condone a 4,215-day delay in filing an appeal for restoration of a struck-off company. The Tribunal ...
Company Law : MCA extends the Companies Compliance Facilitation Scheme, 2026 up to 31 August 2026 due to data center restoration following the...
Company Law : MCA has allowed companies to file Form DPT-3 for FY 2025-26 without additional fees until 31 July 2026 due to disruptions caused b...
Company Law : MCA notifies the New Development Bank under Section 2(11)(ii) of the Companies Act, 2013, specifying it as a body corporate for th...
Company Law : ROC Mumbai penalized a director after Form AOC-4 contained an incorrect AGM due date. The order emphasizes that directors are resp...
Company Law : ROC Mumbai imposed a penalty after finding that an individual held two Director Identification Numbers in violation of Section 155...
Accounting Standards (AS) 11 The Effects of Changes in Foreign Exchange Rates should be applied (a) in accounting for transactions in foreign currencies; and (b) in translating the financial statements of foreign operations.
Accounting Standards (AS) 10 Property, Plant and Equipment is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about investment made by an enterprise in its property, plant and equipment and the changes in such investment.
Accounting Standard (AS) 9 Revenue Recognition deals with the bases for recognition of revenue in the statement of profit and loss of an enterprise. The Standard is concerned with the recognition of revenue arising in the course of the ordinary activities of the enterprise from the sale of goods, the rendering of services, and the use by others of enterprise resources yielding interest, royalties and dividends.
Accounting Standard (AS) 7 Construction Contracts prescribe the accounting treatment of revenue and costs associated with construction contracts. Because of the nature of the activity undertaken in construction contracts, the date at which the contract activity is entered into and the date when the activity is completed usually fall into different accounting periods.
AS 5 – Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies prescribe the classification and disclosure of certain items in the statement of profit and loss so that all enterprises prepare and present such a statement on a uniform basis.
Accounting Standard (AS) 4- Contingencies and Events Occurring After the Balance Sheet Date deals with the treatment in financial statements of (a) contingencies, and (b) events occurring after the balance sheet date.
Accounting Standard (AS) 3 Cash Flow Statements deals with the provision of information about the historical changes in cash and cash equivalents of an enterprise by means of a cash flow statement which classifies cash flows during the period from operating, investing and financing activities.
AS 2 – Valuation of Inventories deals with the determination of such value, including the ascertainment of cost of inventories and any write-down thereof to net realisable value.
AS 1 – Disclosure of Accounting Policies deals with the disclosure of significant accounting policies followed in preparing and presenting financial statements.
Q.1 While filing DPT-3 for f.y. 2020-21, which date shall be mentioned for Closing of Account at colloum 7(a)? Ans. As per instruction Kit, Company must mention date of ‘Last Closing of Account’ at column no. 7(a). Therefore, one can opine that for the Financial year 2020-21 date of last closing of account shall be […]
