Home Highlights October 2012 Year 2012 This

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1. Amendment in National Advisory Committee on Accounting Standrads Constitution - Notification

2. National Advisory Committee on Accounting Standards - Tenure of the NACAS extended from one year to two years

3. Companies (Indian Accounting Standards) (Amendment) Rules, 2016 - Notification

4. Final Report of the Committee constituted for formulating Accounting Standards for the purposes of notification under section 145(2) of the Income-tax Act, 1961.

5. Notification on Income Computation and Disclosure Standards (ICDS) - ICDS notified in 2015 rescinded - Notification

6. Re-Constitution and Re-naming of Advisory Group of National Foundation for Corporate Social Responsibility (NFCSR) as "Governing Council, NFCSR"

7. The amended Accounting Standards should be used for preparation of accounts for accounting periods commencing on or after the date of notification - Circular

8. Central Government constituted the National Committee for Promotion Social and Economic Welfare

9. Constitution of National Financial Reporting Authority (NFRA) w.e.f. 1.10.2018

10. Export of specified food commodities permitted through National Cooperative Exports Limited (NCEL) - Notification

11. National Financial Reporting Authority Amendment Rules, 2022 - Punishment in case of non-compliance - Notification

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

13. Procedure, Formats and Standards of issue of Permanent Account Number (PAN)

14. Intangible Assets - Ind AS-38 of the Companies (Indian Accounting Standards) Rules, 2015 as amended.

15. Income Taxes - Ind AS-12 of the Companies (Indian Accounting Standards) Rules, 2015 as amended