In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate various disclosures by companies in their financial statements. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today. The Minister stated that the new disclosures with respect to the virtual currency/crypto currency transactions and CSR spending undertaken by companies during a financial year are:- Details of Crypto Currency or Virtual Currency Where the Company has traded or invested in Crypto currency or Virtual Currency during the financial year, the following shall be disclosed:-   profit or loss on transactions involving Crypto currency or Virtual Currency amount of currency held as at the reporting date, deposits or advances from any person f

  On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.2021. The details are as under:   The Quarterly statement in Form No. 15CC  to be furnished by  authorized dealer in respect of remittances made for the quarter ending on 30 th  June, 2021 , required to be furnished on or before 15 th  July, 2021 under  Rule 37BB  of the Rules, as extended to 31 st  July, 2021 vide Circular No.12 of 2021 dated 25.06.2021, may be filed on or before  31 st  August, 2021; The Equalization Levy Statement in Form No.1 for the Financial Year 2020- 21,  which was required to be filed on or before  30 th  June, 2021 , as extended to 31 st  July, 2021 vide Circular No.12 of 2021 dated 25.06.2021, may be