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New Tax Accounting Standards

Dated:- 20-3-2015 - The Government has proposed related to income computation and disclosures by businesses to ensure consistency as well as clarity on taxation issue. Sub-section (2) of Section 145 of the Income Tax Act, 1961 (the Act) provides that .....

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ls in December, 2010 to inter alia suggest standards for the purposes of notification under Section 145 (2) of the Act. The Committee submitted its final report alongwith the draft of standards in August, 2012 which was placed in public domain for co .....

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