COVID-19: Relaxations introduced by the Ministry of Corporate Affairs (MCA)

The Government of India (GOI), in order to control the spread of COVID-19, has announced complete lockdown in entire nation since March 24, 2020. Keeping in mind the consequences of COVID-19, the Ministry of Corporate Affairs (MCA) has also introduced certain relaxations and extension of timelines for filing to the companies. Mostly Companies has provided ‘Work from Home’ facility. But due to difficulties faced in co-ordination and lack of office facilities, timely statutory compliance by […]

Companies can fulfil CSR obligations by donating to PM CARES: Ministry of Corporate Affairs

Companies can fulfill their corporate social responsibility (CSR) obligations through donations to the newly formed Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund, the Ministry of Corporate Affairs clarified on Saturday. The emergency fund was created by Prime Minister Narendra Modi on Saturday after his office received numerous requests from people for donations to support the government in its fight against the impact of Covid-19. “People from all walks of life […]

PM Modi Launches CHAMPIONS: Technology Platform to empower MSMEs

Government improvising annual filing form for companies – CSR data

Government is amending the form for furnishing annual financial statements under the Companies law as part of efforts to ensure that CSR spending figures are reported in a proper manner. The Ministry of Corporate Affairs (MCA), which is implementing the Companies Act, is in the process of making amendments to AOC-4 XBRL form regarding CSR disclosure – which is used to submit annual financial statements. Xtensible Business Reporting Language (XBRL) is used for communicating financial […]