Volume 18 (XVIII) 2012-13

The opinions contained in this compilation are of the competent Committees constituted by the Council of the Institute and are of operational nature and not on issues on which relevant laws and rules are not explicit. These “Selected Opinions” are not a compendium of “legal advice”.

The opinions issued by the Committees to the members’ queries are dated. Since an opinion is arrived at on the basis of the facts and circumstances of each individual query, it may change if the facts and the circumstances change. An opinion may also change due to subsequent developments in law, pronouncements made by the Institute and other relevant changes. The Institute and the Committees will have no liability in connection with such opinion.

In every case the members have to take their own decisions in the light of facts and circumstances in accordance with related laws and rules etc., applicable to the issue under decision at that point in time.


1.1    Disclosure Requirements of IAS-12 ‘Income Taxes’
1.2    Exchange of Assets on Demutualization of the Stock Exchanges
1.3    Interest on Defence Saving Certificate held by an Employee’s Provident Fund
1.4    Request From a Company for Exemption from application of IAS-2
1.5    Clarification regarding WWF and WPPF


2.1    Certain clarifications regarding ATR – 17 (Revised 2012)
2.2    Audit Report on Consolidated Financial Statements after Change of Auditors
2.3    Technical Opinion on Public Sector Bidding