Saturday, October 26, 2019

No requirement for an auditor to secure NOC from previous auditor in terms of clause 8 of Schedule I of CA Act: HC

INCOME TAX/CHARTERED ACCOUNTANTS ACT : In terms of clause (8) of First Schedule of Act, there is no requirement for an auditor to secure a no objection certificate from previous auditor as only requirement is that Chartered Accountant, who accepts position as an auditor, must communicate with previous auditor about same

from www.taxmann.com Latest Case Laws https://ift.tt/2BKi1vB

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...