To bring in transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) has amended Schedule III of the Companies Act, 2013. The disclosures regarding the trade or investment of the company in cryptocurrency or virtual currency should be stated. The profit or loss in the transactions involving cryptocurrency. Deposits or advances taken from any person for the purpose of trading or investing in cryptocurrency should also be reported. Under section 135 of the companies act details regarding Corporate Social Responsibility (CSR) activities including the amount of expenditure incurred, shortfall at the end of the year also has to be mentioned.
Source: Tax Guru