Sukhwinder Singh & Co.

01/01/2024

No one can go back in time to change what has happened. So work on your present to make yourself a wonderful future.

Happy New Year 2024!

31/05/2021

Do you know?

According to the latest data released by the Ministry of Corporate Affairs (MCA) total of 12,554 Companies was Registered in the month of April in India. The total number of active companies in India (30/04/2021) is 13,55,505.

01/04/2021

https://cssukhwindersingh.com/spices-board-registration/

25/03/2021

Dear Professional friends,

The following are the Summary of Important Consideration for all Auditors and Companies from FY 2021-22 onwards, as per MCA Notifications dated 24/03/2021

1. Mandatory use of Accounting Software having Audit Trail
From FY commencing on 01.04.2021, every Company shall use Accounting Software having a feature to record an audit trail of each transaction, creating the edit log of changes made & ensuring that the audit trail cannot be disabled.

2. Additional Matters to be included in Auditors Report
i. Reporting regarding advances, loans & Investments other than disclosed in notes to accounts.

ii. Receiving of funds for further lending or investing other than disclosed in notes to accounts.

iii. Dividend declared or paid is in compliance with section 123 of CA, 2013.

iv. Comment of use of Accounting Software having Audit Trail & other rules therein.

3. New Disclosures in Financial Statements from 01/04/2021
i. Disclosure of Shareholding of Promoters

ii. Trade Payables aging schedule with age 1 year, 1-2 year, 2-3 year & More than 3 years

iii. Reconciliation of the gross and net carrying amounts of each class of assets

iv. Trade Receivables aging schedule with age 1 year, 1-2 year, 2-3 year & More than 3 years

v. Detailed disclosure regarding title deeds of Immovable Property not held in name of the Company.

vi. Disclosure regarding revaluation & CWIP aging.

vii. Loans or Advances granted to promoters, directors, KMPs, and the related parties

viii. Details of Benami Property held

ix. Reconciliation and reasons of material discrepancies, in quarterly statements submitted to bank and books of accounts.

x. Disclosure where a company is a declared wilful defaulter by any bank or financial institution.

xi. Relationship with Struck-off Companies.

xii. Pending registration of charges or satisfaction with Registrar of Companies.

xiii. Compliance with the number of layers of companies.

xiv. Disclosure of 11 Ratios.

xv. Compliance with approved Scheme(s) of Arrangements.

xvi. Utilisation of Borrowed funds and share premium.

xvii. Details of transactions not recorded in the books that have been surrendered or disclosed as income in the tax assessments.

xviii. Disclosure regarding Corporate Social Responsibility.

xix. Details of Crypto-Currency or virtual currency

Warm Professional Regards | PCS Sukhwinder Singh

29/01/2021

Due Date Extended

15/02/2021

01/01/2021

One CS Trainee Required in a PCS firm located at New Patel Nager, New Delhi.
Stipend - Rs 5000/- P.M.
Interest candidates may send their CV at [email protected]

26/08/2020

https://cssukhwindersingh.com/draft-documents-for-agm-extension

10/07/2020

Acquire or Dispose-off your Companies
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06/07/2020

Top Stories Of The Day

1. Ratan Tata inspires 27-year-old assistant to start his own startup course to help aspiring entrepreneurs

https://bit.ly/RatanTataSN

2. Paytm and Vijay Shekhar Sharma to acquire general insurer Raheja QBE

https://bit.ly/PaytmRaheja

3. Reliance Industries Limited's market valuation crosses Rs 11.5 lakh crore mark

https://bit.ly/RILValuation

4. Nykaa prepares for the 'new normal', launches home and travel essentials

https://bit.ly/NykaaTravel

5. Payments processor Instamojo turns profitable, posts record revenue in the first quarter

https://bit.ly/InstamojoQ1

6. Aye Finance raises Rs 125 Cr from Germany-based Invest in Vision

https://bit.ly/AyeFinanceYS

The move comes after the huge response to Ratan Tata’s startup pitch deck template posted on his Instagram page last winter.

02/04/2020

https://cssukhwindersingh.com/list-of-forms-covered-under-clss-2020-and-llpss-2020/