Recent Amendment to Schedule III of Companies Act 2013 | New Disclosure Requirements in Schedule III

#CASansaar #ScheduleIII #CompaniesAct
Recent Amendment to Schedule III of Companies Act 2013 Applicable wef 01st April 2021
by CA. Amarjit Chopra Ji (Past President - ICAI) and CA. Anil Sharma Ji

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I. General Instruction for preparation of Balance Sheet:
Rounding Off:
II. Additional Disclosure in Notes to Balance Sheet
i. Shareholding of Promoter
ii. Trade Payable (Creditors) ageing Schedule
iii. Trade receivables (Debtors) ageing Schedule
iv. Title deeds of Immovable Property not held in name of the Company
v. Disclosure on revaluation of Assets
vi. Disclosure on Loans/ Advance to Directors/ KMP/ Related parties
vii. Details of Benami Property held
viii. Details of Borrowing
ix. Wilful Defaulter
x. Relationship with Struck off Companies
xi. Registration of charges or satisfaction with Registrar of Companies
xii. Compliance with number of layers of companies
xii. Disclosure of Ratios
xiii. Details in respect of Utilization of Borrowed funds and share premium shall be provided in respect of
xiv. Compliance with approved Scheme(s) of Arrangements

III. Additional Disclosure in Notes to Profit & Loss Account:
i. Undisclosed Income (Reconciliation of Income Tax and Companies Act)
ii. CSR Disclosure
iii. Details of Crypto Currency or Virtual Currency

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