Option 1: The Act regulates the corporate sector to make it accountable.

This statement is correct. The Companies Act, 2013 aims to regulate the corporate sector and ensure accountability among companies. It includes provisions for corporate governance, transparency in financial reporting, and protection of shareholders` interests.

Option 2: It provides for Corporate Social Responsibility.

This statement is correct. The Companies Act, 2013 has introduced the concept of Corporate Social Responsibility (CSR) which mandates companies to spend a certain percentage of their profits on social and environmental causes.

Option 3: It provides more opportunities for new entrepreneurs.

This statement is incorrect. The Companies Act, 2013 does not specifically provide more opportunities for new entrepreneurs. It primarily focuses on regulating the functioning of existing companies and improving corporate governance.

Option 4: It enables wide application of Information Technology.

This statement is correct. The Companies Act, 2013 encourages the use of information technology in various aspects of company management, including e-filing of documents, e-voting for shareholders, and online registration of companies.

In conclusion, the incorrect statement is option 3 as the Companies Act, 2013 does not provide more opportunities for new entrepreneurs.