MCA Notify the amendment in Schedule III of Companies Act, 2013

25 March 2021

MCA Notify the amendment in Schedule III to the Companies Act, 2013

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The Ministry of Corporate Affairs (MCA) vide its Notification Dated 24th March 2021 amends Schedule III to the Companies Act, 2013 which deals with the format of Balance Sheet.

Official Notification is as follows:-



New Delhi, 24th March, 2021

G.S.R. (E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments in Schedule III to the said Act with effect from 1st day of April, 2021, namely:-

In the said Schedule,-

a. in Division I,-

(i) under the heading “General instructions for preparation of Balance Sheet and statement of Profit and Loss of a company”, under sub-heading “General instructions”, in paragraph 4, in clause (i), for the word “may” the word “shall” and for the word “Turnover”, at both the places where it occurs, the words “Total Income” shall be substituted;

(ii) in Part I- Balance Sheet,-

(A) under the heading “II Assets”, under sub-heading “Non-current assets”, after the words “Property, Plant and Equipment”, the words “and Intangible assets” shall be inserted and for the words “Tangible Assets”, the words “Property, Plant and Equipment” shall be substituted;

(B) in the “Notes”, under the heading “General Instructions for Preparation of Balance Sheet”, in paragraph 6,-

(I) under the heading “A. Share Capital”, after item (l) and the entries relating thereto, the following shall be inserted, namely:

“(m) A company shall disclose Shareholding of Promoters* as below:


Shares held by promoters at the end of the year % Change during the


S. No Promoter name No. of Shares** %of total shares**  

*Promoter here means promoter as defined in the Companies Act, 2013.

** Details shall be given separately for each class of shares

*** percentage change shall be computed with respect to the number at the beginning of the year or if issued during the year for the first time then with respect to the date of issue. ”

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