FAQ on Revised Schedule VI to the Companies Act 1956 withdrawn by ICAI In view of issuance of Schedule III to the Companies Act, 2013
CL&CGC/ 20/ 2017-2018
25th April, 2017
Announcement
Sub: Regarding withdrawal of Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012.
The Corporate Laws & Corporate Governance Committee (CL&CGC) of the Institute of Chartered Accountants of India (ICAI) had issued the Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 in May, 2012.
In view of issuance of Schedule III to the Companies Act, 2013, which is to be followed by the companies from 1st April, 2014, the applicability of Revised Schedule VI to the Companies Act 1956 is for the preparation of Financial Statements prior to that period.
The Committee at its 36th meeting held on 10th April, 2017 decided to withdraw Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956. Therefore, the same stands withdrawn.
Accordingly, members are requested to please note.
Chairman,
Corporate Laws & Corporate Governance Committee
Vice Chairman,
Corporate Laws & Corporate Governance Committee
AO stating that material forming basis of reopening shall be disclosed at the stage of assessment/re-assessment, indicates that the AO…
Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of…
High Court declined to allow production of physical documents by in Faceless Assessment simply because they were voluminous In a…
The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information - ITAT In a…
Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…
Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a…