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Applicability of Company Law Amendments

CA. Abhishek A. Sawant (Sr. Executive at Mukund M. Chitale. Co) (90 Points)

01 May 2021

Can anyone plz confirm whether the latest amendments in Company Laws are applicable to FY 2020-21 or not?

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7 Replies

sabyasachi mukherjee (27721 Points)
Replied 01 May 2021

Certainly

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CA Raj Doshi (Practising CA) (8939 Points)
Replied 01 May 2021

All amendments are applicable from FY 2021-22 except for audit trail. None of the amendment applicable for FY 2020-21. However, professionals and various forums have advised to prepare relevant disclosures in FY 2020-21 so that comparatives are readily available next year.

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CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 02 May 2021

Agree with Raj

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CA. Abhishek A. Sawant (Sr. Executive at Mukund M. Chitale. Co) (90 Points)
Replied 02 May 2021

Thanks Mr. Raj Doshi. Could you plz share with me a link for one of the opinions given by various forums? I couldn't find one on internet.

sabyasachi mukherjee (27721 Points)
Replied 02 May 2021

Ammendments are applicable as and when the circulars are passed .
The Companies are required to abide by the alterations.
No only from assessment year 21 22 or 20 21.
It's since time immemorial.
Even all acts have the same rules.

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CA Raj Doshi (Practising CA) (8939 Points)
Replied 02 May 2021

If you happen to attend any webinars by the WIRC or any other regional council on Schedule III amendment, they would definitely verbally say on the webinar. There is no written confirmation.

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