MCA21 Version 3.0 1st Phases launched. Web based forms, e-Book & e-Consultation mew Modules

MCA21 Version 3.0 1st Phases launched by Ministry of Corporate Affairs

MCA21 Version 3.0 1st Phases launched

MCA21 Version 3.0 (V 3.0) 1st Phases was today launched by Ministry of Corporate Affairs. As per press release issued in this regard, the MCA21 Version 3.0 comprises of revamped website, new email services for MCA Officers and two new modules, namely, e Book and e Consultation during a virtual event.

It is expected that the launch of new MCA21 Version 3.0 will refresh the user experience with enhanced look & feel, the e-book will provide easy access to the updated legislations along with a tracking mechanism for historical changes in law.

The e-consultation module will facilitate:

• virtual public consultation of proposed amendments and new legislations to be introduced by MCA from time to time.

• leverage Artificial intelligence for compiling, grouping and categorizing comments/inputs received from stakeholders and create analytical reports for quick policy decision making.

• new email service for officers of MCA will provide them with advanced features and capabilities for organised and managed communication with internal as well as external stakeholders. 

It is also expected that MCA21 V3.0 will reduce the requirements of attachments, make the forms as web based and strengthen the pre-fill mechanism. Secretary MCA stated that the data analytics driven MCA21 V3.0 will give new meaning to corporate compliance culture and will further enhance the trust and confidence in the Corporate regulatory and governance system.

• AO is under an obligation to assign reasons for rejecting explanation of the assessee
• CBIC issues SoP for clearance of imported goods through Foreign Post Offices
• Sale deed executed with full knowledge of only part consideration paid, not void – SC
• No fault in serving notice to last known address when PAN data was not updated – ITAT
• Investment by firm through capital introduced by partners cannot be treated as unexplained