Authentication of Cost Audit Report in cases where a firm of Cost Auditors is approved under U/s 233B (2) of the Companies Act, 1956 for conducting Cost Audit.
Circular No. 392 – Income Tax Section 6 provides that in computing the net wealth of (a) an individual or a Hindu undivided family not resident in India or resident but not ordinarily resident in India, or (b) a company not resident in India, during the year ending on the valuation date, the value of assets and debts located outside India should be excluded.
