ICAI withdraw GNs on FBT & Revaluation Reserve for Issue of Bonus Shares

Withdrawal of two Guidance Notes on Accounting – (07-10-2016)

The Council, at its 359th meeting, held on September 16-17, 2016, has decided to withdraw the following two Guidance Notes on Accounting as the same are no longer relevant in the present day context:

• GN(A) 9 (Issued 1994) – Guidance Note on Availability of Revaluation Reserve for Issue of Bonus Shares
• GN(A) 20 (Issued 2005) – Guidance Notes on Accounting for Fringe Benefits Tax