Companies (Accounts) Second Amendment Rules, 2021- MCA has postponed the applicability of software with Audit features for Companies from 01.04.2022 instead of 01.04.2021 notified earlier.
Companies incorporated under the Companies Act 2013 now have an other year to install the audit trail mandate in their accounting software .
The MCA Ministry of corporate affairs has deferred the requirement of the same by one year by substitution of the effective date .
Earlier The MCA had issued a notification stating that companies to install software that has audit trail tracking all the modified / altered/ added / deleted entries in the books of account
This mandates the software companies to put up a feature in software showing the log of such changes in order to curb back dated changes .
But now by way of below notification the same is postponed to 01-04-2022 .
SOURCE
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st April, 2021
G.S. R. 247 (E).— In exercise of the powers conferred by section 134 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:-
(1) These rules may be called the Companies (Accounts) Second Amendment Rules, 2021.
(2) They shall come into force with effect from the 1st day of April, 2021.
2. In the Companies (Accounts) Rules, 2014, in proviso to sub-rule (1) of rule 3, for the figures, letters and words “1st day of April, 2021”, the figures, letters and words “1st day of April, 2022” shall be Substituted.
Note: The principal rules were published in the Gazette of India vide notification number G.S.R. 239(E), dated 31st March, 2014 and were last amended vide notification number G.S.R. 205(E), dated the 24th March, 2021.
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