Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT RATES :: form 3cd :: cpt :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TDS :: VAT Audit
 
 
General »
 DHFL loan to Manpreet Estates under tax scan
 Council acts to ease cascading tax impact on petroproducts
 Income Tax comes a cropper tracking shell firms
 Income Tax returns: Is rental income from property taxable in hands of homeowners?
 Tax department to engage with corporates to spur receipts
 Furnish Form 67 to claim foreign tax credit in India tax return
 GST: Commerce ministry to write to finance ministry over trademark rule
 GST: Govt issues clarification to address service tax issues, misses key concerns
 How to file LUT/Bond for SEZ units under GST
 Exemption From Capital Gains On Sale Of Agricultural Land
 FinMin wants RBI to lower rates, boost domestic demand

Accounting relief for IndAS companies
July, 27th 2017

Companies going for Indian accounting standards (IndAS) need not do second round of adjustment for mark-to-market losses on financial instruments in its book profits for the purpose of tax computation, the income tax department has clarified.

This is so because these are already adjusted to book profits under minimum alternate tax (MAT), the Central Board of Direct Taxes (CBDT) said.

However, if there is a reduction in value of assets other than financial instruments through mark-to-market values, the companies will have to adjust those to the book profit.

The CBDT has issued frequently asked questions (FAQs) on the issue after receiving the recommendations of an expert committee.

The Finance Act, 2017, had amended the MAT provisions (Section 115JB) for IndAS compliant companies with effect from April 1, 2017.

Barring banks, insurance and non-banking financial companies, most companies are required to adopt Ind AS from April 1, 2017. Small unlisted firms of less than Rs 250 crore of net worth, subsidiaries, joint ventures and holding companies are, however, exempted.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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