The Companies (Indian Accounting Standards) Amendment Rules, 2020
The Ministry of Corporate Affairs has notified the Companies (Indian Accounting Standards) Amendment Rules, 2020. The Rules amend the Companies (Indian Accounting Standards) Rules, 2015.
Amendments have been made to the following IndAS notified so far:
IndAS 1 related to Presentation of Financial Statements
IndAS 103 related to Business Combinations
IndAS 107 related to Financial Instruments: Disclosures
IndAS 109 related to Financial Instruments
INdAS 116 related to Leases
INdAS 8 related to Operating Segments
IndAS 10 related to Events after the Reporting Period
IndAS 34 related to Interim Financial Reporting
IndAS 37 related to Provisions, Contingent Liabilities and Contingent Assets
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- Non- payment of cost imposed can’t trigger automatic confirmation of an invalid exparte assessment.
- Non-deduction of TDS does not make transaction as unexplained in the hands of deductee – ITAT
- Last date to submit MEF 2026-27 extended to 09.09.2026
- Validity of demand u/s 156 for default u/s 115-O, if assessment order u/s 143(3) has Nil demand
- Issue already examined and adjudicated by CIT(Appeals), can’t be reopened on same set of facts
 Amendment Rules 2020){kind=link}