FAQ on Revised Schedule VI to the Companies Act 1956 withdrawn by ICAI In view of issuance of Schedule III to the Companies Act, 2013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 Therefore, the same stands withdrawn.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
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…
Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right…
Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a…
Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment,…
Interest earned on borrowed funds/ unutilized capital subsidy are capital receipts In a recent judgment, Hon'ble Guwahati High Court has…
There is no statutory requirement of pre-deposit for stay of demand under Income Tax Act - High Court stayed demand …