Exchange rate determination sets conversion rates for foreign currencies affecting import and export valuation purposes.
Determination prescribes conversion rates of specified foreign currencies into Indian rupees, effective 4th April, 2014, under section 14 of the Customs Act, to be applied distinctly for imported goods and for export goods as set out in two annexed schedules, and supersedes the prior notification except as to past actions.

Income tax rule amendment prescribing new filing manners and form updates, adding notice alongside audit report for compliance.
The Income-tax (4th Amendment) Rules, 2014 amend Rule 12 of the Income-tax Rules, 1962 by updating year references, inserting a proviso authorising issuance of a notice under a clause of section eleven, prescribing new filing manners for certain return forms for specified assessment years, and expressly adding the term notice alongside report of audit for compliance; Appendix II form references are also updated. The amendments take effect from the commencement date specified in the notification.

Tariff Schedule Amendment: India-Japan CEPA replaces prior customs notification table for chapter-wise goods tariff rates.
The Central Government, under section 25(1) of the Customs Act, 1962, issues Notification No.09/2014 substituting the Table in Notification No.69/2011-Customs (India-Japan CEPA). The substituted Table lists chapter, heading, sub heading and tariff items with the corresponding customs tariff rate entries applicable to "All goods," thereby defining the tariff classification and preferential tariff treatment for goods covered by the India-Japan CEPA notification.

Tariff concession amendment: substitution of HS-code schedules updating preferential duty relief under the DFTP scheme.
Amendment to the DFTP tariff concession schedules by substituting Appendix I with a Table listing HS codes and the extent of tariff concession as a percentage of the applied rate of duty, and substituting Appendix II with an updated list of HS-code entries describing eligible goods for preferential treatment under the scheme.

SEZ authority membership amended to substitute two members under statutory power, updating SEEPZ notified representatives.
Amendment substitutes the persons listed at entries 5 and 6 in notification S.O. 569(E) by replacing the prior nominees with new appointees identified by name and corporate designation, effected by the Central Government under statutory powers and issued by the Department of Commerce for SEEPZ SEZ Authority.

Schedule entry wording correction clarifies 'entry Nos' should read 'Sl. No.' affecting embassy and organisation lists.
The notification amends the earlier VAT notification by directing that the phrase "entry Nos" appearing in the second paragraph and in the table headings of Part A (List of Embassies) and Part B (List of International Organisations) of Entry 1 of the Sixth Schedule shall be read as "Sl. No." The remainder of the earlier notification remains unchanged.

Prospectus disclosure obligations require full issue, promoter and financial disclosures and strict refund and allotment procedures.
The rules mandate extensive prospectus disclosures including identities of issue participants, issue timetable, declarations on allotment/refunds and segregation of issue funds; full capital structure presentation and tabular history of past allotments; directors' and promoters' interests and sources of promoter contribution; objects, funding plan and project schedule; statutory, litigation and auditor qualifications disclosures; required auditors' and valuation reports for acquisitions; fact sheet summary; refund and allotment filing procedures (Form PAS 3); dematerialisation of promoter convertible holdings; shelf prospectus and private placement conditions with prescribed forms and limits.

Useful life limits for assets require disclosure when varied and prescribe a toll road amortisation method.
Amendment to Schedule II limits asset useful life to the lives specified in Part 'C' and residual value to no more than five percent of original cost, requiring disclosure where companies use different estimates. Intangible assets generally follow applicable accounting standards, but toll road concession intangibles may be amortised by allocating cost over projected concession revenues using the formula: Amortisation Amount = Cost x (Actual Revenue for the Year / Projected Revenue over Concession), with annual review and adjustment of projections so cost is fully amortised over the concession. Part 'C' also prescribes 25 years for continuous process plants where no special rate applies.

Companies must follow deposit limits, mandatory insurance or security, trustee oversight and detailed public disclosures.
The Companies (Acceptance of Deposits) Rules, 2014 set exclusions and definitions of "deposit", establish eligibility and quantitative limits for public companies to accept deposits, require specified tenors and caps on interest/brokerage, mandate detailed disclosure and filing of circulars (Form DPT-1), compulsory deposit insurance and/or security by charge, appointment and duties of trustees and execution of a deposit trust deed (Form DPT-2), maintenance of liquid assets and deposit registers, audited annual filing in Form DPT-3, penal interest for overdue unpaid deposits and fines for rule contraventions.

Auditor appointment and rotation: prescribed procedures, eligibility limits and mandated fraud-reporting obligations to regulators.
The rules govern auditor selection and appointment processes, requiring audit committees or boards to evaluate qualifications, disciplinary history and suitability, recommend candidates and follow specified procedures for board disagreement, member ratification and auditor certification. They prescribe rotation and ineligibility conditions-including network restrictions and transitional calculations-procedures for removal and resignation using Form ADT-2 and ADT-3, auditor report additions on litigation and provisions, and a mandated reporting process to the Central Government for suspected frauds via Form ADT-4.

Board meetings by video conferencing: procedural safeguards, excluded matters, recordkeeping and director disclosure obligations enforced.
Prescribes procedures and safeguards for Board meetings by video conferencing or audio visual means, including identity verification, quorum and roll call, recording and minutes retention, notice and opt in mechanisms, exclusion of specified matters from remote consideration, and deeming the scheduled in India venue as the meeting place; mandates committees for specified companies, establishes a vigil mechanism with audit committee oversight, requires director disclosures and maintenance of prescribed MBP registers for loans, guarantees, investments and related party contracts, and imposes special resolution and disclosure requirements for sizeable inter company transactions and payments on loss of office.

Declaration of dividend out of reserves limited by prior dividend rates and reserve maintenance, with loss set-off requirement.
Declaration of dividend out of accumulated reserves is permitted when profits are inadequate, but is limited by a dividend rate cap based on recent dividend history and by a ceiling relative to paid-up share capital and free reserves in the latest audited financial statement. Withdrawn amounts must first be used to set off current-year losses before equity dividends, and reserves after withdrawal must not fall below a mandated buffer of paid-up share capital. Carried-over losses and unprovided depreciation must be set off against current profits before any dividend.

Companies Appointment and Qualification of Directors rules mandate women and independent directors, a databank for independents, and DIN procedures.
The Rules require specified companies to appoint at least one woman director and prescribed classes of public companies to have a minimum number of independent directors; mandate an authorised agency to create and maintain an online databank of prospective independent directors with detailed personal, professional and directorship information; and establish electronic procedures for allotment, change, surrender, deactivation and cancellation of Director Identification Numbers (DIN), together with prescribed forms, filing timelines, verification and Registrar notification obligations.

LLP to company registration requires URC 1/URC 2 filings, publication, creditor consents, auditor certified accounts and Registrar approval.
Conversion into a company under Part I of Chapter XXI applies Chapter II incorporation provisions mutatis mutandis and requires URC 1 filing with verified lists of members/partners and proposed directors, affidavits of non disqualification, the constituting instrument, consents from secured creditors and members, auditor certified recent accounts, publication of URC 2 inviting objections within twenty one days, consideration of objections by the Registrar within thirty days, and issuance of a certificate of incorporation in Form INC 11 if satisfied.

Corporate register maintenance and e voting protocols require strict updating, authentication, and secure electronic recordkeeping.
Prescribes procedures for maintaining, authenticating, preserving and inspecting statutory registers and returns under the Companies Act, 2013, including member, debenture and foreign registers; timings for entries after allotment or transfer; declarations and returns relating to beneficial ownership; electronic notice and e voting protocols with scrutinizer duties; minute taking and filing obligations using prescribed MGT forms; standards for electronic records security, backups and access; and penalties and fees for non compliance.

Definition of Director Identification Number clarifies identity rules and incorporates prior identifiers for corporate compliance.
These Rules define operative terms for the Companies Act, designating Director Identification Number (DIN) including prior DINs and DPIN, and specifying digital compliance mechanisms such as Digital Signature Certificate, electronic record, electronic registry, electronic mode (covering B2B/B2C, deposits, online services and data communications), Certifying Authority, e-Form, Registrar's Front Office and Pre-fill. They treat a holding company director or key managerial personnel and their relatives as related parties and list specific relatives for related-party and disqualification purposes.

Inspection and investigation rules require security deposits and permit appointment of specialised experts for SFIO functions.
Rules prescribe appointment of experts for SFIO functions and set terms of service for the Director, experts and staff, governed by deputation and recruitment rules and allowing contractual engagement. A security requirement for appointment of an inspector ties specified refundable deposits to prior-year turnover, and letters of request under section 217 must be transmitted as specified by the Ministry of Corporate Affairs.

Registration of charges: mandatory e filing in prescribed forms with specified timelines, fees and condonation procedure.
The rules require electronic filing of prescribed Forms (notably CHG 1 and CHG 9) for creation, modification and satisfaction of charges within thirty days; late filings within an extended period incur additional fees while filings beyond that period require Central Government condonation via Form CHG 8. Filings must include the instrument evidencing the charge, verified by specified officers; the Registrar issues conclusive certificates of registration or modification (Forms CHG 2/CHG 3), maintains the public register via the MCA portal, and entries must be mirrored in the company's internal register (Form CHG 7). Satisfaction and receiver appointments are notified through specified Forms with preservation, inspection and evidentiary rules.

Managerial remuneration disclosures require detailed Board report metrics and affirm adherence to company remuneration policy.
Rules require filing Form MR.1 for appointments of MD/WTD/Manager/CEO/Company Secretary/CFO within sixty days; Form MR.2 governs Central Government applications and approvals for appointments or excess remuneration with prescribed fees and timelines. Listed companies must disclose extensive remuneration metrics and comparisons in the Board's report and list senior employees meeting remuneration or shareholding thresholds. Conditions allow certain companies to pay beyond Schedule V limits subject to board, committee and shareholder approvals and no default certifications. Secretarial audit obligations (Form MR.3) and enumerated duties of the Company Secretary are specified.

Companies (Share Capital & Debentures) Rules, 2014 set conditions for differential shares, sweat equity, ESOPs, buy-backs and debentures.
The Companies (Share Capital and Debentures) Rules, 2014 prescribe procedural, disclosure and substantive conditions for issuance and management of share capital and debentures under the Companies Act, 2013. Key provisions regulate equity shares with differential rights (authorization, limits, eligibility, disclosures), physical share certificate issuance and replacement, issuance of sweat equity and employee stock options (approvals, valuation, limits, lock-in, disclosures), preferential issues (pricing and valuation), buy-backs (solvency declaration, offer mechanics, filings) and debentures (security creation, trustee duties, trust deed, Debenture Redemption Reserve and events of default), supported by prescribed registers and forms.