July 2023

Companies Required to Appoint Internal Auditor (1) The following class of companies shall be required to appoint an internal auditor 1[which may be either an individual or a partnership firm or a body corporate], namely:- (a) every listed company; (b) every unlisted public company having- (i) paid up share capital of fifty crore rupees or more …

Rule 13 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Filing of Financial Statements and Fees to be Paid Thereon (1) 1[Every company shall file the financial statements with Registrar together with Form2AOC-4 and the consolidated financial statements,if any, with form2AOC-4 CFS.] 3[(1A) Every Non-Banking Financial Company (NBFC) that is required to comply with Indian Accounting Standards (Ind AS) shall file the financial statements with Registrar together with Form …

Rule 12 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Manner of Circulation of Financial Statements in Certain Cases In case of all listed companies and such public companies which have a net worth of more than one crore rupees and turnover of more than ten crore rupees, the financial statements may be sent- (a) by electronic mode to such members whose shareholding is in …

Rule 11 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Disclosures About CSR Policy The disclosure of contents of Corporate Social Responsibility Policy in the Board’s report and on the company’s website, if any, shall be as per annexure attached to the Companies (Corporate Social Responsibility Policy) Rules, 2014. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | …

Rule 9 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Matters to be included in Board’s Report for One Person Company and Small Company (1) The Board’s Report of One Person Company and Small Company shall be prepared based on the stand alone financial statement of the company, which shall be in abridged Form and contain the following:- (a)the web address, if any, where annual return referred …

Rule 8A Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Matters to be Included in Board’s Report (1) The Board’s Report shall be prepared based on the stand alone financial statements of the company 2[and shall report on the highlights of performance of subsidiaries, associates and joint venture companies and their contribution to the overall performance of the company during the period under report]. (2) The …

Rule 8 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Transitional Provisions with Respect to Accounting Standards (1) The standards of accounting as specified under the Companies Act, 1956 (1 of 1956) shall be deemed to be the accounting standards until accounting standards are specified by the Central Government under section 133. (2) Till the National Financial Reporting Authority is constituted under section 132 of the Act, the Central …

Rule 7 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Manner of Consolidation of Accounts. The consolidation of financial statements of the company shall be made in accordance with the provisions of Schedule III of the Act and the applicable accounting standards: Provided that in case of a company covered under sub-section (3) of section 129 which is not required to prepare consolidated financial statements under the Accounting Standards, it shall …

Rule 6 Chapter IX The Companies (Accounts) Rules, 2014 Read More »

Form of Statement Containing Salient Features of Financial Statements of Subsidiaries The statement containing the salient feature of the financial statement of a company’s subsidiary or subsidiaries, associate company or companies and joint venture or ventures under the first proviso to sub-section (3) of section 129 shall be in Form AOC-1. Practice area’s of B K Goyal & Co …

Rule 5 Chapter IX The Companies (Accounts) Rules, 2014 Read More »