INDIAN ACCOUNTING STANDARD (IND AS 19) Employee Benefits (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles). Objective The objective of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to… Read More »
Indian Accounting Standard (Ind AS 17) Leases (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in… Read More »
Indian Accounting Standard (Ind AS 16) Property, Plant and Equipment (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that… Read More »
Indian Accounting Standard (Ind AS 12) Income Taxes (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for income… Read More »
Indian Accounting Standard (Ind AS 10) Events after the Reporting Period (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe: (a) When an entity should adjust its financial statements… Read More »
Indian Accounting Standard (Ind AS 8) Accounting Policies, Changes in Accounting Estimates and Errors (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the criteria for selecting and changing… Read More »
Indian Accounting Standard (Ind AS 7) Statement of Cash Flows (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis… Read More »
Changes in Schedule III to the Companies Act, 2013 MCA issued a notification dated 4th September, 2013 whereby it has made changes (additional disclosures required for dues payable to micro enterprises and small enterprises) in the Schedule III of the Companies Act, 2013. Schedule III of the Companies Act, 2013 provides “General Instructions for preparation… Read More »
Whether the benefit of Section 54B can be claimed only in case Capital Asset (land) sold is Long tern Capital Asset ? Section 54B does not refer to a short-term capital asset or a long-term capital asset. It merely refers to a capital asset. Where the ingredients of Section 54B exist, the computation of capital… Read More »
Whether in case of Trust, actual rent received is to be treated as the income from house property of the assessee and not under the head income from house property (with the provisions of u/s. 23 & 24 of the Act) ? while arriving at the rental income of the assessee trust any expenditure incurred whatsoever related… Read More »