MCA to Launch MCA-21 Version 3, Focus on Online Compliance Monitoring and Ease of Doing Business
Highlights
MCA-21 is an initiative undertaken by the Ministry of Corporate Affairs in order to store and maintain data of all the registered companies that file accounts online with MCAThe MCA-21, V 3.0 will come up with features like single source of truth, online compliance monitoring, ease of doing business, e-adjudication etc.A survey report of NSSO declared over one third of the companies under the MCA’s MCA-21 database used in calculating India’s GDP could either not be tracked, incorrect or non-functional.
The Ministry of Corporate Affairs (MCA) is currently working on the version 3 of MCA-21 database, which will focus on many current lags to upgrade the functionality of its database.
The MCA-21, V 3.0 will come up with features like single source of truth, online complia...