The Ministry of Corporate Affairs had earlier issued a notification to the effect that it will be mandatory for all companies who are using accounting software to employ an accounting software which have feature of keeping audit trail. This notification was made effective from 1st April, 2021. However, this time limit has now been extended by one year. For this purpose, MCA notified on 01st April, 2021 that the time limit for the above compliance is extended to 1st April, 2022. Therefore, the companies are not required to be in a hurry and will get a sufficient time period of one year to employ such accounting software which could keep audit trail.
Read Further:- Accounting software with audit trail time limit extended
