MCA Updates Companies (Accounts) Second amendment Rules, 2021

These rules may be called the Companies (Accounts) Second amendment Rules, 2021
They shall come in to force with effect from the 1st April 2021.

Rule	Companies (Accounts) Rule 2014	Companies (Accounts)Second Amendment Rules 2021	Comments
Rule (3) Manner of books of accounts to be kept in electronic mode sub rule (1) proviso	Provided that for the financial year commencing on or after the ~~1st day of April, 2021~~, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.	Provided that for the financial year commencing on or after the 1st day of April, 2022, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.	The words letter and figures “1^st April 2021” the words letter and figures “1^st April 2022” is substituted.

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