News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« ICAI »
 What is required to generate UDIN?
 The last date to fill MEF is approaching soon.
 â€˜FAQ on 'Presentation of Dividend and Dividend Distribution Tax'(Revised September, 2019)
 What to do in case I forget the password?
 DAAB of ICAI invites Expression of Interest from Expert Reviewers for Reviewing Modules of DISA 3.0a
 â€˜FAQ on 'Presentation of Dividend and Dividend Distribution Tax'(Revised September, 2019)
 Correction Window for Chartered Accountant Examinations, November 2019 Extended to 18-09-2019.
 Invitation to contribute articles for ICAI International Conference "Accountancy Profession: Catalyzing Reforms, Creating Values" on December 6-7, 2019 at Mumbai
 How to change the Password?
 Survey on GST Implementation in India
 Is it advisable to change the password after first login?

Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective as the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 has been issued.
October, 08th 2016

Sub: Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective as the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 has been issued.

The Corporate Laws & Corporate Governance Committee (CL&CGC) of the Institute of Chartered Accountants of India (ICAI) had issued an Application Guide on the Provisions of Schedule II to the Companies Act, 2013 in February, 2015.



Subsequently, the Research Committee of ICAI issued the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 in February, 2016.

This is to mention here that since the authority of the Guidance Notes issued by ICAI is above than the Application Guides issued, the Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective and stands withdrawn from the date the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013, became applicable i.e. for accounting periods beginning on or after April 1, 2016; though its earlier application was encouraged. 



Accordingly, members are requested to please note.

(CA Dhinal Shah)
Chairman, Corporate Laws & Corporate Governance Committee
Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions