Home Highlights February 2016 Year 2016 This

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1. Companies (Auditor's Report) Order, 2016 - Notification

2. Comments/suggestions invited on ‘Draft Adjudication Manual’ - Cir. No. Draft Circular Dated: November 29, 2011

3. Statutory Auditor (Chartered Accountant), Cost Auditor or Secretarial Auditor has to report the fraud in the company in the prescribed manner. - Notification

4. Intending to invite deposit from its members - A certificate from Statutory auditor shall be required in prescribed form - Rule 4 of the Companies (Acceptance of...

5. CBEC issued a Draft circular inviting suggestions on the issue of Application of principle of “unjust enrichment” in case of refund

6. New and Revised Auditors’ reporting standards (w.e.f. accounting periods starting 01/04/2018)

7. Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

8. CENVAT credit - shortage of input - merely for smaller quantity found short by the internal auditor and reported in 3CD report, credit cannot be denied - AT

9. Valuation- inter-connected undertaking - related parties or not - applicability of doctrine of mutuality of interest - The fact that Appellant 1 and Appellant 2 were not...

10. Rectification u/s 154 - The ld. AR invited our attention in ITR 7 where it is mentioned that the correct figures in claim of section 11(1)(2) of the Act. The assessee...