Company Law Board:
Company Law Board has issued Clarification on applicability of Section 58A(9) and Section 58AA of the Companies Act, 1956 with regard to the commencement of Section 74(2) of the Companies Act, 2013 w.e.f. 06.06.2014. As the corresponding Sections namely 58A(9) and 58AA of the Companies Act, 1956 ceased to have effect, all Benches of the Company Law Board shall not accept further applications under sections 58A(9) and 58AA of the Companies Act, 1956. Further, all applications under section 58A(9) and 58AA of the Companies Act, 1956 prior to 06.06.2014 pending in the Regional Benches shall be disposed of under the provisions of the said Act on top priority basis.
CBDT:
CBDT has revised the format of Form 3CA, Form 3CB and Form 3CD (Format of Tax Audit Reports) under section 44AB of the Income Tax Act, 1961 and has notified the Income Tax (7th Amendment) Rules, 2014. The Notification will be applicable from the date of its publication in official gazette. Form 3CA is an Audit report, which is required to be filed in a case where the accounts of the business or profession of a person have been audited under any other law, Form 3CB is an Audit report, which is required to be filed, in the case of a person referred to in clause (b) of sub – rule (1) of rule 6G and Form 3CD is a Statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961.
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