Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: empanelment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4%
 
 
News Headlines »
 How you can save tax in the last 2 days of current FY
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help

RBI tightens accounting norms
May, 23rd 2008

The Reserve Bank on Wednesday tightened norms for investment by banks in subsidiaries and joint ventures, by making it mandatory for the lenders to reveal whether such investments are for more than one year or not.

"It has been decided that the Board of Directors of banks should invariably record the intent of holding of the investment for a temporary period or otherwise at the time of investment in the subsidiary, associate and joint ventures," the central bank said in a notification.

Henceforth, all investments by banks in their subsidiaries and joint ventures for more than one year will have to be shown in the consolidated financial statement, the notification said.

It said if such investments are made without recording any intent, they would have to be taken into account while preparing the consolidated financial statement.

The intention with regard to disposal of relevant investment, it added, should be considered at the time of acquisition of investment.

RBI has issued the notification in accordance with guidelines of the Institute of Chartered Accountants of India (ICAI) for preparation of consolidated financial statement.

The ICAI guidelines pertain to Accounting Standards (AS 21, 23 and 27) that deal with consolidated financial statements, accounting for investment in associates and financial reporting of interests in joint ventures.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions