On 16-02-2015, MCA had notified Companies (Indian Accounting Standards) Rules, 2015.
Today, (30/03/2016) Ministry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standards) (Amendment) Rule, 2016.
The amendment has made the following changes:
Indian Accounting Standard (Ind AS) 11 – Construction Contracts notified. The standard shall be applied in accounting for construction contracts in the financial statements of contractors.
Indian Accounting Standard (Ind AS) 18 – Revenue notified. The standard shall be applied in accounting for revenue arising from following transactions and events:
(a) sale of goods;
(b) the rendering of services, and
(e) the use by others of entity assets yielding interest and royalties
[F No. 01/01/2009-CL-V(Part)]
Form 26 to replace Form 3CD of tax audit report from Tax Year 2026-27 Draft Form 26 has been issued…
When AO do not make any addition on the basis of the reasons on which the reopening was done, the…
Under MV Act separate compensation can not be granted under the head “loss of love and affection” – Supreme Court…
Trust accredited by National Institute of Open Schooling eligible for registration u/s.12AB and u/s 80G of the Act. In a…
Delay in furnishing Form 10B – Period between 15.03.2020 till 20.08.2022 to be excluded as per decision of Hon'ble Supreme…
Section 271AAB does not grant any immunity from penalty even if the assessee was able to show some reasonable cause…