Corporate Updates – 29-03-2017


MCA has notified the Companies (Indian Accounting Standards) (Amendment) Rules, 2017 which shall come into force on the 1st day of April, 2017. The amendment are focusing majorly on the treatment of Share-based Payment, Treatment of vesting and non-vesting conditions, Share-based payment transactions with a net settlement feature for withholding tax obligations, Transitional provisions and Accounting for a modification of a share-based payment transaction that changes its classification from cash-settled to equity-settled.


CBDT has notified the amendment rules which may be called the Income Tax (3rd Amendment) Rules, 2017 and shall come into force on the date of their publication in the Official Gazette. The amendment provides that every notice or other document communicated in electronic form by an income-tax authority under the Act shall be deemed to be authenticated, in case of electronic mail or electronic mail message, if the name and office of such income-tax authority is printed on the e-mail body, if the notice or other document is in the email body itself; or is printed on the attachment to the e-mail, if the notice or other document is in the attachment, and the e-mail is issued from the designated e-mail address of such income-tax authority. Further, the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) shall specify the designated e-mail address of the income-tax authority, the designated website and the procedure, formats and standards for ensuring authenticity of the communication.

News from NIRC of ICSI

NIRC is organising 5 Days Capacity Building Sessions on Companies Act, 2013, Covering : Deposits, Charge, Borrowings, Loan to Directors & Inter corporate Loans / Investments/Guarantee/Security from Monday, the 27th March, 2017 to Friday, the 31st March, 2017 from 5.30 PM to 8.00 PM. at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi. Fee:Rs.750/-; (inclusive of service tax) ; for all sessions (including Corporate Members); Rs.200/- per session; PCH – 2/day.

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