Revised AoC-4 Non-XBRL form due to amendment of Schedule III of CA 2013 to be available soon

Revised AoC-4 Non-XBRL form due to amendment of Schedule III of CA 2013 to be available soon without additional fee-MCA Advisory

The Central Government has made further amendments to Schedule III to the Companies Act, 2013 vide Notification dated 11th October 2018. As per the said notification, Division III has been inserted in respect of Financial Statements for a Non-Banking Financial Company (NBFC) whose financial statements are drawn up in compliance of the Companies (Indian Accounting Standards) Rules, 2015.

The changes to AoC-4 Non-XBRL form necessitated by insertion of Division III in Schedule III of CA 2013 are under development and the revised form exclusively for such class of companies would be made available for filing purposes soon.

Once the form is deployed in MCA21 portal for filing purposes, suitable notice would be published and adequate time would be given for filing the form without levying additional fee. Stakeholders may kindly take note and plan accordingly.

• Applicability of Guidance Note on Financial Statements of Non-Corporate Entities/LLPs
• Requirement of DIN referencing in Income Tax notices etc. and exceptions
• Applicability of deeming fiction u/s 50C when property purchased & sold within same year
• ICAI defers the effective date of Standard on Quality Management SQM1 and SQM2
• Addition based on letter of District Magistrate not recovered during search deleted

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