Amendment to Schedule III to the Companies Act, 2013 - G.S.R. 207 (E) - Companies Law

Enhanced financial disclosures require ageing schedules, promoter shareholding, fund flow and crypto holdings disclosures in company accounts.

Amendments to Schedule III (effective 1 April 2021) revise presentation and significantly expand disclosure requirements: replace 'Turnover' with 'Total Income'; relabel Tangible Assets as Property, Plant and Equipment and add Intangible Assets; revise Statement of Changes in Equity; recognise lease liabilities; require promoter shareholding disclosure; separate current maturities of long term borrowings; mandate ageing schedules for trade receivables and payables and disclosure of unbilled dues; require title deed details for immovable property not held in company name; require disclosures on revaluations by registered valuers, loans to promoters/directors/KMPs, use of borrowed funds and intermediary fund flows, benami property proceedings, struck off company transactions, wilful defaulter status, CSR, undisclosed income, and crypto currency holdings.