Tag Archives: Guidance note

Guidance Note on Accounting for Real Estate Transactions

By | May 11, 2016

The Institute of Chartered Accountants of India Guidance Note on Accounting for Real Estate Transactions (for entities to whom Ind AS is applicable) 1. Objective and Scope Objective 1.1 The objective of this Guidance Note is to recommend the accounting treatment by entities dealing in ‘Real Estate’ as sellers or developers. The term ‘real estate’… Read More »

Guidance Note on CARO 2016

By | April 24, 2016

Guidance Note on CARO 2016 Guidance Note on Companies Auditor’s Report Order 2016 The Ministry of Corporate Affairs has issued the Companies (Auditor’s Report) Order, 2016 (CARO 2016) vide Order dated 29th March 2016. The Order would be applicable for audit of the financial statements for the period beginning on or after April 1, 2015.… Read More »

Guidance Note on Reporting on Fraud u/s 143(12) of Companies Act 2013

By | February 13, 2016

Guidance Note on Reporting on Fraud u/s 143(12) of Companies Act 2013 The Council of the Institute of Chartered Accountants of India at its 350th meeting held on February 10, 2016 approved the Revised Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013. For the benefit of the members, complete… Read More »

Guidance Note on Audit of Banks 2016 edition released by ICAI

By | February 13, 2016

Guidance Note on Audit of Banks 2016 edition released by ICAI 12.02.2016 The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has today issued the Guidance Note on Audit of Banks 2016 edition. For the benefit of members, complete text of the Guidance Note and the contents of accompanying CD… Read More »

Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013

By | October 30, 2015

Auditing and Assurance Standards Board Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013 The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has today issued the Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013. For the benefit of… Read More »

5 Guidance Notes Withdrawn by ICAI

By | October 27, 2015

The Institute of Chartered Accountants of India has decided to withdraw 5 Guidance Notes on different accounting aspects. The list of the Guidance notes which have been withdraws are as follows:-   1. Guidance Note on Accounting for Depreciation in Companies   2. Guidance Note on Treatment of Reserve Created on Revaluation of Fixed Assets… Read More »

ICAI opinion in guidance note can be used to compute taxable income

By | September 22, 2015

whether the assessee could take recourse to the “guidance note” issued by the Institute of Chartered Accountants of India qua accounting for lease in determination of its income, and whether the deduction as claimed by the assessee ought to be allowed ? Where assessee had maintained accounts as per guidance note on accounting for leases… Read More »