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Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Step 1 – Issue Identification & Review
The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.
• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required
Step 2 – Draft Generation
Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.
• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review. 
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The Institute of Chartered Accountants of India has decided to withdraw 5 Guidance Notes on different accounting aspects. The list of the Guidance notes which have been withdraws are as follows:-
1. Guidance Note on Accounting for Depreciation in Companies
2. Guidance Note on Treatment of Reserve Created on Revaluation of Fixed Assets
3. Guidance Note on Some Important Issues Arising from the Amendments to Schedule XIV to the Companies Act, 1956
4. Guidance Note on Remuneration Paid to Key Managerial Personnel- Whether a Related Party Transaction
5. Guidance Note on Applicability of Accounting Standard (AS) 20, Earning Per Share
These Guidance notes have been withdrawn because the guidance provides in these guidance notes have been addressed by changes made in the Companies Act, 2013.
Withdrawal of Guidance Notes aligns accounting guidance with Companies Act amendments, removing outdated practice-specific guidance and consolidating statutory compliance. The Institute of Chartered Accountants of India has withdrawn five Guidance Notes-on Depreciation, Revaluation Reserve treatment, issues from Schedule XIV amendments, remuneration to key managerial personnel as related party transactions, and applicability of AS 20 (Earnings Per Share)-because the guidance they provided has been addressed by changes introduced in the Companies Act, 2013.Press 'Enter' after typing page number.