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Filing of One time Form NFRA-1: Every Company or Body Corporate falling under the applicability rules shall file e-Form NFRA-1 concerning the particulars of the auditor within 30 days of deployment of Form NFRA-1 i.e. by 31st July, 2019.
During the process of submitting NFRA-1 form, user needs to have following details/documents before proceeding with form filling. In case of Indian Body Corporate: 1. PAN of Indian authorized individual 2. PAN of body corporate 3. DIN of Director/Membership No. of CS/PAN of Manager or CEO or CFO 4. Income tax PAN of auditor/audit firm […]
NATIONAL FINANCIAL AUTHORITY REPORTING RULES, 2018 (NFRA RULES): FILING OF FORM NFRA-1 GOVERNING PROVISIONS: Section 132 of the Companies Act, 2013 (“the Act”) and Rules made there under. FUNCTIONS OF NATIONAL FINANCIAL AUTHORITY (NFRA) (SECTION 132(2)): 1. make recommendations to the Central Government on the formulation and laying down of accounting and auditing policies and […]
Format of Authority Letter for Filing NFRA Form 1 To, Chairperson National Financial Reporting Authority 8th floor, Hindustan Times House Kasturba Gandhi Marg New Delhi- 110001 I, <<Name>>, <<Designation>> hereby authorize following official to sign, fill and submit NFRA-1 on behalf of the organization. Name: Designation: Official Email ID: Official Contact No.: Official Identification Number: […]
Rule 3(1) : Classes of companies and bodies corporate governed by the Authority (NFRA): (a) companies whose securities are listed on any stock exchange in India or outside India; (b) unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans, debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately preceding financial Year;
Sub-Rule (2) of Rule 3 prescribe that every existing body corporate other than a company governed by these rules, shall inform the Authority within thirty days of the commencement of these rules (subsequently extended till 30 days from the date of deployment), in Form NFRA-1, the particulars of the auditor as on the date of commencement of these rules.
The NFRA rules, 2018 have been made applicable since 13.11.2018 by the MCA with intent to tap financial scams that the nation witnessed and to have a control over the workings of the Auditors. NFRA is an independent authority to control over the auditors and has been given a wide range of powers to monitor […]
NFRA-1 Form landing page Step 1: Enter the URL (eformnfra.nic.in). You will land on below screen (Screenshot-1), consisting of following options and information for the user Home- This option will facilitate the user to return to Screenshot-1 New user registration/signup – In order to proceed with the form submission, user needs to register on the portal, using this […]
The National Financial Reporting Authority Form-1 (NFRA Form-1) – Documents and Attachments The following details/documents are required before proceeding with Form NFRA-1 filling on NFRA Website www.nfra.gov.in . In case of Indian Body Corporate following details are required: 1. PAN of Indian authorized individual 2. PAN of body corporate 3. DIN of Director/Membership No. of […]
Time limit for filing NFRA-1 will be 30 days from deployment of Form on the Website of NFRA. Form NFRA-1 is available on https://nfra.gov.in/ and the last date of filing the same by Entities concerned is 31st July, 2019.
