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The status of a company as a “Small Company” may change from year to year. Thus the benefits which are available during a particular year may stand withdrawn in the next year and become available again in the subsequent year.
MCA has introduced the Companies (Incorporation), Second Amendment Rules, 2021 on 1st February 2021. An amendment in the Process of Conversion of One Person Company to Private/Public Company has been made.
MCA has introduced the Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 under which, the CSR spending has been made mandatory from voluntary w.e.f. FY 2020-21.
Discussing the Checklist for Director's Report under the Companies Act, 2013 with regard to the Board's Report, Event/Limit Based Disclosures, and Mandatory Disclosures by a Public Company and a Listed Company.
Discussing the Restricted Services and Management Services that are not allowed to be provided by Statutory Auditors under the Companies Act, 2013 and the Chartered Accountants Act, 1949.
A beneficial interest is the right to receive benefits on shares held by another party. Beneficial interest is often referred to in matters concerning trusts, whereby one has a vested interest in the trust's assets.
Via an amendment in Rule 11 of the Companies (Management and Administration) Amendment Rules, 2021, MCA has introduced e-form MGT-7A as an annual return for Small Companies and OPC w.e.f. FY 2020-21.
Discussing the Mandatory yearly Compliances of a Private Limited Company, List of Annual Compliances and Details of Annual Filing of the Compliances of a Private Limited Company.
Every company shall file its annual return in Form No. MGT-7 except for a One Person Company and a Small Company who shall file their annual return from FY 2020-2021 onwards in Form No. MGT-7A.
Several representations have been received by MCA for setting off the excess CSR amount spent by the companies in FY 2019-20 by way of contribution to 'PM CARES Fund' against the mandatory CSR obligation for FY 2020-21.
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