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Accounting Standard

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(Querist)
01 October 2008 Is accounting standard issue by ICAI apply on partnership firm or not?
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CA Gaurav Khanna

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CA Gaurav Khanna (Expert)
01 October 2008 Yes mandatory accounting standards are applicable if such statements are required to be statutorily sudited under any law e.g. accounts required to be audited u/s 44AB of the income tax act.

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