Monthly Archives: July 2017

Final Rules prescribing method of valuation of unquoted shares

Posted on July 20, 2017

CBDT has notified amended Rule 11UA prescribing method of valuation of fair market value (‘FMV’) of unquoted equity shares for the purpose of section 56(2)(x) . Section 56(2)(x) provides that where any person received any property without consideration or for … Continue reading →

Posted in Direct Tax |

Note on Internal Financial Controls Exemption for Private Limited Companies

Posted on July 13, 2017

Internal Financial Controls – Applicability on Private Limited Companies As per provisions of Section 143(3)(i) of companies Act, The Auditor Report shall state whether the Company has adequate internal financial controls system inplace and the operating effectiveness of such controls. … Continue reading →

Posted in Audit & Assurance | Tagged , , |