<h1>Proposed Amendments to Companies (Accounts) Rules, 2014: Key Changes in CSR, Data Storage, and Disclosure Requirements.</h1> The proposed amendments to the Companies (Accounts) Rules, 2014, address several key areas. The requirement for Indian companies to store electronic backups on servers located in India remains, unless data access is permitted under international treaties. Consolidation exemptions for subsidiaries outside India will not be extended beyond 2014-15. The Committee suggests no exemptions for small or private companies from account consolidation and recommends changes to capture unhedged foreign exchange exposure. Disclosure requirements for related party transactions and director remuneration are to be streamlined. CSR policy rules will be amended to allow companies that no longer meet criteria to cease CSR spending, and administrative overheads for CSR can increase from 5% to 10%.