The weekly messenger | Edition 25.21

September 2021

This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas.

Regulatory news

Filing of Related Party Transactions in XBRL mode ‒ 6 September 2021

As per Securities and exchange board of India (SEBI) (Listing Obligations and Disclosure Requirements (LODR)) Regulations, 2015, listed entities are required to submit disclosures of Related party transactions (RPTs) on a consolidated basis within 30 days from the date of publication of its standalone and consolidated financial results for the half-year.

In order to make the aforesaid disclosure more accurate and efficient, the Bombay stock Exchange (BSE) in consultation with SEBI, has introduced a facility of filing of RPTs in XBRL mode with immediate effect.

For more information, click here.

SEBI (LODR) (Fifth Amendment) Regulations, 2021 ‒ 7 September 2021.

The SEBI has issued the SEBI (LODR) (Fifth Amendment) Regulations, 2021, wherein largely the corporate governance requirements have been extended to and certain new disclosure requirements have been inserted for the debt listed entities

These regulations shall come into force w.e.f. 7 September 2021.

For more information, click here.

CBDT extends due dates for filing of Income Tax Returns and Tax Audit Report for the A.Y. 2021-22

The Central Board of Direct Taxes (CBDT) has further extended the due dates of filing of the Income Tax Returns (ITR) and Tax Audit Reports for the Assessment Year (A.Y.) 2021-22. The revised due dates are as follows:

Particulars

Revised Due date of furnishing of ITR

Revised Due date of furnishing of Tax Audit Reports and Form 3CEB (wherever applicable)

For taxpayers who are required to get their accounts audited

15 February 2022

 

(Earlier extended till 30 November 2021)

15 January 2022

 

(Earlier extended till 31 October 2021)

For taxpayers who are required to furnish report in respect of international/specified domestic transactions

28 February 2022

 

(Earlier extended till 31 December 2021)

31 January 2022

 

(Earlier extended till 30 November 2021)

For other taxpayers

31 December 2021

 

(Earlier extended till 30 September 2021)

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For more information, click here.

Applicable date for certain provisions of Employees’ State Insurance Act, 1948 ‒ 31 August 2021 

The provisions of the following sections of Employees’ State Insurance Act, 1948:

  • Chapter IV (except sections 44 and 45 which have already been brought into force)
  • Chapters V and VI (except sub-section (1) of section 76 and sections 77, 78, 79 and 81 which have already been brought into force)

shall come into force w.e.f 1 September 2021 in the entire area of Mayiladuthurai, Vellore and Ariyalur districts in the State of Tamil Nadu, in addition to the already implemented area in the district.

For more information, click here.