sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
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
Latest Expert Exchange
ICAI »
 CPE Events 18th March -23th March 2019
 UDIN Being Made Mandatory in 2nd Phase for GST & Tax Audit Reports
 Announcement - CA Exams May 2019 - Apply for Changes/Corrections
 Request to Contribute Women Specific Articles for ICAI Monthly Journal The Chartered Accountant.
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Vasai from 16th March to 31st March, 2019
 Exposure Draft of Definition of Business (Amendments to Ind AS 103) (Comments to be received by April 6, 2019)
 Exposure Draft of Definition of Material (Amendments to Ind AS 1 and Ind AS 8) (Comments to be received by April 6, 2019)
 Exposure Draft of Standard on Internal Audit (SIA) 230,Objectives of Internal Audit (Comments to be received by March 28, 2019)
 Exposure Draft of Standard on Internal Audit (SIA) 240, Using the Work of an Expert (Comments to be received by March 28, 2019)
 Exposure Draft of Standard on Internal Audit (SIA) 360,Communication with Management (Comments to be received by March 28, 2019)
 Exposure Draft of Standard on Internal Audit (SIA) 370,Reporting Results to Management (Comments to be received by March 28, 2019)

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