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: ACCOUNTING STANDARD :: TDS :: ACCOUNTING STANDARDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4% :: due date for vat payment
 
 
« ICAI »
 Frequently Asked Questions on the Companies Act 2013
  Frequently Asked Questions on the Insolvency and Bankruptcy Code, 2016
 Change of venue in respect of some of the candidates of Intermediate (IPC) at Rajkot and Kolkata, for May 2017 exams
 Registrations open for Post Qualification Diploma in International Taxation - Chennai and Pune
 Swot analysis for the profession and Institute & actionables thereon and in process also identify and analyze the strategic alliances
 Request to provide/update PAN details to avoid blocking of e-filing account by the Income-tax Department
 Revised order amplifying the Terms of Reference of the High Level Committee by Govt to dispose off disciplinary cases.
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 5 (Revised)
 FAQ on treatment of Securities Premium Account under Ind AS on the date of transition.
 Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board
 Next Batches for the Certificate Course on Cooperatives at Jamshedpur and Ranchi.

ICAI to frame accounting norms for farm sector
May, 29th 2009

Corporatisation of agriculture and vast income potential of commercial crops have attracted the attention of accounting regulator ICAI, which for the first time is evolving accounting norms for the sector.    

"So far, there are no rules and standards for the agriculture sector. How do you value tea and coffee crops or other commercial crops? We are thinking to frame some standards for the agriculture sector," ICAI Vice-President Amarjit Chopra told PTI.    

Globally, there are accounting standards for the farm sector but this is not so in India, where agricultural income is exempted from income tax.    

Chopra said the producers don't know how to value floriculture, horticulture, plantation crops like tea, coffee, rubber etc and hence the sector remains untapped.    

The accounting norms become important more so when India is largely an agrarian economy, he added.    

The International Accounting Standards prescribes the accounting treatment for agriculture, which includes biological transformation of living animals or plants for sale into agricultural produce or additional biological assets.    

However, in India there is no accounting norm on biological assets and agricultural produce.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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