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: cpt :: list of goods taxed at 4% :: VAT Audit :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd
 
 
ICAI »
 CPE Events 5th December - 10th December 2016
 Here's how your employer can help you save tax
 Introduction of facility for online submission of requests for issue of duplicate mark sheets/pass certificates.
 ICAI invites suggestions on revised Model GST Law
 Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board
 President's Message - December 2016
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 6
 Announcement regarding registration as an Insolvency Professional with the Indian Institute of Insolvency Professionals of ICAI
 CPE Events 28th November - 3th November 2016
 Admit Cards for CPT December 2016 Examination
 Application Form for the Information Systems Audit (ISA) Assessment Test - December, 2016 [Last Date - 7th December, 2016]

ICAI requests CBDT to review the ITR forms vis--vis Revised Schedule VI
June, 25th 2012

The Ministry of Corporate Affairs (MCA) has notified the Schedule VI (Revised) which is applicable in respect of Balance Sheet and Profit and Loss Account prepared for the financial year commencing on or after 1.4.2011. The Revised Schedule VI had changed the nomenclature of certain items, modified the present classification of accounts, removed / added certain disclosure requirements etc which in turn has impacted the financial reporting requirement for the Companies.

Considering, the changes in the financial reporting requirements for the Companies, the Direct Taxes Committee of ICAI has suggested CBDT to consider streamlining of the income tax return forms to incorporate the changes made in the Revised Schedule VI. It has also been mentioned that in case the same is not done the Indian companies will be required to prepare another set of financial statements for satisfying the requirement of the Income-tax Act, which not only will result in higher costs, but also consume considerable time and effort.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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