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Earnings per Share

Ind AS - 033 - Rules - B. Indian Accounting Standards (Ind AS) - Companies (Indian Accounting Standards) Rules, 2015 - Ind AS - 033 - Indian Accounting Standard (Ind AS) 33 (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1 The objective of this Standard is to prescribe principles for the determination and presentation of , so as to improve performance comparisons bet .....

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Standards (Ind ASs) notified under the Companies Act apply. [Refer Appendix 1] 3 An entity that discloses shall calculate and disclose in accordance with this Standard. 4 When an entity presents both consolidated financial statements and separate financial statements prepared in accordance with Ind AS 110, Consolidated Financial Statements, and Ind AS 27, Separate Financial Statements, respectively, the disclosures required by this Standard shall be presented both in the consolidated financial s .....

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inancial statements. 4A [Refer Appendix 1] Definitions 5 The following terms are used in this Standard with the meanings specified: Antidilution is an increase in or a reduction in loss per share resulting from the assumption that convertible instruments are converted, that options or warrants are exercised, or that ordinary shares are issued upon the satisfaction of specified conditions. A contingent share agreement is an agreement to issue shares that is dependent on the satisfaction of specif .....

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ts are financial instruments that give the holder the right to purchase ordinary shares. An ordinary share is an equity instrument that is subordinate to all other classes of equity instruments. A potential ordinary share is a financial instrument or other contract that may entitle its holder to ordinary shares. Put options on ordinary shares are contracts that give the holder the right to sell ordinary shares at a specified price for a given period. 6 Ordinary shares participate in profit for t .....

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ontractual arrangements, such as the purchase of a business or other assets. 8 Terms defined in Ind AS 32, Financial Instruments: Presentation, are used in this Standard with the meanings specified in paragraph 11 of Ind AS 32, unless otherwise noted. Ind AS 32 defines financial instrument, financial asset, financial liability and equity instrument, and provides guidance on applying those definitions. Ind AS 113, Fair Value Measurement, defines fair value and sets out requirements for applying t .....

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ive of basic information is to provide a measure of the interests of each ordinary share of a parent entity in the performance of the entity over the reporting period. Earnings 12 For the purpose of calculating basic , the amounts attributable to ordinary equity holders of the parent entity in respect of: (a) profit or loss from continuing operations attributable to the parent entity; and (b) profit or loss attributable to the parent entity shall be the amounts in (a) and (b) adjusted for the af .....

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alculating basic . 13 All items of income and expense attributable to ordinary equity holders of the parent entity that are recognised in a period, including tax expense and dividends on preference shares classified as liabilities are included in the determination of profit or loss for the period attributable to ordinary equity holders of the parent entity (see Ind AS 1). 14 The after-tax amount of preference dividends that is deducted from profit or loss is: (a) the after-tax amount of any pref .....

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for a low initial dividend to compensate an entity for selling the preference shares at a discount, or an above-market dividend in later periods to compensate investors for purchasing preference shares at a premium, are sometimes referred to as increasing rate preference shares. Any original issue discount or premium on increasing rate preference shares is amortised to retained earnings using the effective interest method and treated as a preference dividend for the purposes of calculating (irre .....

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lating profit or loss attributable to ordinary equity holders of the parent entity. 17 Early conversion of convertible preference shares may be induced by an entity through favourable changes to the original conversion terms or the payment of additional consideration. The excess of the fair value of the ordinary shares or other consideration paid over the fair value of the ordinary shares issuable under the original conversion terms is a return to the preference shareholders, and is deducted in .....

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rage number of ordinary shares outstanding during the period reflects the possibility that the amount of shareholders capital varied during the period as a result of a larger or smaller number of shares being outstanding at any time. The weighted average number of ordinary shares outstanding during the period is the number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting .....

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inary shares issued on the voluntary reinvestment of dividends on ordinary or preference shares are included when dividends are reinvested; (c) ordinary shares issued as a result of the conversion of a debt instrument to ordinary shares are included from the date that interest ceases to accrue; (d) ordinary shares issued in place of interest or principal on other financial instruments are included from the date that interest ceases to accrue; (e) ordinary shares issued in exchange for the settle .....

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substance of any contract associated with the issue. 22 Ordinary shares issued as part of the consideration transferred in a business combination are included in the weighted average number of shares from the acquisition date. This is because the acquirer incorporates into its statement of profit and loss the acquiree s profits and losses from that date. 23 Ordinary shares that will be issued upon the conversion of a mandatorily convertible instrument are included in the calculation of basic fro .....

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e excluded from the calculation of basic until the date the shares are no longer subject to recall. 25 [Refer Appendix 1] 26 The weighted average number of ordinary shares outstanding during the period and for all periods presented shall be adjusted for events, other than the conversion of potential ordinary shares, that have changed the number of ordinary shares outstanding without a corresponding change in resources. 27 Ordinary shares may be issued, or the number of ordinary shares outstandin .....

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, the number of ordinary shares outstanding is increased without an increase in resources. The number of ordinary shares outstanding before the event is adjusted for the proportionate change in the number of ordinary shares outstanding as if the event had occurred at the beginning of the earliest period presented. For example, on a two-for-one bonus issue, the number of ordinary shares outstanding before the issue is multiplied by three to obtain the new total number of ordinary shares, or by tw .....

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es outstanding for the period in which the combined transaction takes place is adjusted for the reduction in the number of ordinary shares from the date the special dividend is recognised. Diluted 30 An entity shall calculate diluted amounts for profit or loss attributable to ordinary equity holders of the parent entity and, if presented, profit or loss from continuing operations attributable to those equity holders. 31 For the purpose of calculating diluted , an entity shall adjust profit or lo .....

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the parent entity is increased by the after-tax amount of dividends and interest recognised in the period in respect of the dilutive potential ordinary shares and is adjusted for any other changes in income or expense that would result from the conversion of the dilutive potential ordinary shares; and (b) the weighted average number of ordinary shares outstanding is increased by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of .....

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ny interest recognised in the period related to dilutive potential ordinary shares; and (c) any other changes in income or expense that would result from the conversion of the dilutive potential ordinary shares. 34 After the potential ordinary shares are converted into ordinary shares, the items identified in paragraph 33(a)-(c) no longer arise. Instead, the new ordinary shares are entitled to participate in profit or loss attributable to ordinary equity holders of the parent entity. Therefore, .....

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eduction of interest expense related to potential ordinary shares and the resulting increase in profit or reduction in loss may lead to an increase in the expense related to a non-discretionary employee profit-sharing plan. For the purpose of calculating diluted , profit or loss attributable to ordinary equity holders of the parent entity is adjusted for any such consequential changes in income or expense. Shares 36 For the purpose of calculating diluted , the number of ordinary shares shall be .....

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determined independently for each period presented. The number of dilutive potential ordinary shares included in the year-to-date period is not a weighted average of the dilutive potential ordinary shares included in each interim computation. 38 Potential ordinary shares are weighted for the period they are outstanding. Potential ordinary shares that are cancelled or allowed to lapse during the period are included in the calculation of diluted only for the portion of the period during which the .....

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of conversion exists, the calculation assumes the most advantageous conversion rate or exercise price from the standpoint of the holder of the potential ordinary shares. 40 A subsidiary, joint venture or associate may issue to parties other than the parent or investors with joint control of, or significant influence over, the investee potential ordinary shares that are convertible into either ordinary shares of the subsidiary, joint venture or associate, or ordinary shares of the parent or inves .....

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ations. 42 An entity uses profit or loss from continuing operations attributable to the parent entity as the control number to establish whether potential ordinary shares are dilutive or antidilutive. Profit or loss from continuing operations attributable to the parent entity is adjusted in accordance with paragraph 12 and excludes items relating to discontinued operations. 43 Potential ordinary shares are antidilutive when their conversion to ordinary shares would increase or decrease loss per .....

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lution of basic , each issue or series of potential ordinary shares is considered in sequence from the most dilutive to the least dilutive, ie dilutive potential ordinary shares with the lowest earnings per incremental share are included in the diluted calculation before those with a higher earnings per incremental share. Options and warrants are generally included first because they do not affect the numerator of the calculation. Options, warrants and their equivalents 45 For the purpose of cal .....

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ssue of ordinary shares for no consideration. 46 Options and warrants are dilutive when they would result in the issue of ordinary shares for less than the average market price of ordinary shares during the period. The amount of the dilution is the average market price of ordinary shares during the period minus the issue price. Therefore, to calculate diluted , potential ordinary shares are treated as consisting of both the following: (a) a contract to issue a certain number of the ordinary shar .....

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calculation of diluted . 47 Options and warrants have a dilutive effect only when the average market price of ordinary shares during the period exceeds the exercise price of the options or warrants (ie they are in the money ). Previously reported are not retroactively adjusted to reflect changes in prices of ordinary shares. 47A For share options and other share-based payment arrangements to which Ind AS 102, Share-based Payment, applies, the issue price referred to in paragraph 46 and the exer .....

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ed employee share options are treated as contingently issuable shares because their issue is contingent upon satisfying specified conditions in addition to the passage of time. Convertible instruments 49 The dilutive effect of convertible instruments shall be reflected in diluted in accordance with paragraphs 33 and 36. 50 Convertible preference shares are antidilutive whenever the amount of the dividend on such shares declared in or accumulated for the current period per ordinary share obtainab .....

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for the purpose of determining whether the remaining outstanding preference shares are dilutive. The shares redeemed or converted are considered separately from those shares that are not redeemed or converted. Contingently issuable shares 52 As in the calculation of basic , contingently issuable ordinary shares are treated as outstanding and included in the calculation of diluted if the conditions are satisfied (ie the events have occurred). Contingently issuable shares are included from the beg .....

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the condition for contingent issue and if that amount has been attained at the end of the reporting period but must be maintained beyond the end of the reporting period for an additional period, then the additional ordinary shares are treated as outstanding, if the effect is dilutive, when calculating diluted . In that case, the calculation of diluted is based on the number of ordinary shares that would be issued if the amount of earnings at the end of the reporting period were the amount of ear .....

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s that would be issued if the market price at the end of the reporting period were the market price at the end of the contingency period. If the condition is based on an average of market prices over a period of time that extends beyond the end of the reporting period, the average for the period of time that has lapsed is used. Because the market price may change in a future period, the calculation of basic does not include such contingently issuable ordinary shares until the end of the continge .....

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met. 56 In other cases, the number of ordinary shares contingently issuable depends on a condition other than earnings or market price (for example, the opening of a specific number of retail stores). In such cases, assuming that the present status of the condition remains unchanged until the end of the contingency period, the contingently issuable ordinary shares are included in the calculation of diluted according to the status at the end of the reporting period. 57 Contingently issuable pote .....

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tity determines their impact on the calculation of diluted by following the provisions for options and warrants in paragraphs 45-48, the provisions for convertible instruments in paragraphs 49-51, the provisions for contracts that may be settled in ordinary shares or cash in paragraphs 58-61, or other provisions, as appropriate. However, exercise or conversion is not assumed for the purpose of calculating diluted unless exercise or conversion of similar outstanding potential ordinary shares that .....

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onent and a liability component, the entity shall adjust the numerator for any changes in profit or loss that would have resulted during the period if the contract had been classified wholly as an equity instrument. That adjustment is similar to the adjustments required in paragraph 33. 60 For contracts that may be settled in ordinary shares or cash at the holder s option, the more dilutive of cash settlement and share settlement shall be used in calculating diluted . 61 An example of a contract .....

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ed because including them would be antidilutive. The put option would be exercised only if the exercise price were higher than the market price and the call option would be exercised only if the exercise price were lower than the market price. Written put options 63 Contracts that require the entity to repurchase its own shares, such as written put options and forward purchase contracts, are reflected in the calculation of diluted if the effect is dilutive. If these contracts are in the money du .....

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ncremental ordinary shares (the difference between the number of ordinary shares assumed issued and the number of ordinary shares received from satisfying the contract) shall be included in the calculation of diluted . Retrospective adjustments 64 If the number of ordinary or potential ordinary shares outstanding increases as a result of a capitalisation, bonus issue or share split, or decreases as a result of a reverse share split, the calculation of basic and diluted for all periods presented .....

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lting from changes in accounting policies accounted for retrospectively. 65 An entity does not restate diluted of any prior period presented for changes in the assumptions used in calculations or for the conversion of potential ordinary shares into ordinary shares. Presentation 66 An entity shall present in the statement of profit and loss basic and diluted for profit or loss from continuing operations attributable to the ordinary equity holders of the parent entity and for profit or loss attrib .....

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l, dual presentation can be accomplished in one line in the statement of profit and loss. 67A [Refer Appendix 1] 68 An entity that reports a discontinued operation shall disclose the basic and diluted amounts per share for the discontinued operation either in the statement of profit and loss or in the notes. 68A [Refer Appendix 1] 69 An entity shall present basic and diluted , even if the amounts are negative (ie a loss per share). Disclosure 70 An entity shall disclose the following: (a) the am .....

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class of instruments that affects . (c) instruments (including contingently issuable shares) that could potentially dilute basic in the future, but were not included in the calculation of diluted because they are antidilutive for the period(s) presented. (d) a description of ordinary share transactions or potential ordinary share transactions, other than those accounted for in accordance with paragraph 64, that occur after the reporting period and that would have changed significantly the number .....

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nding at the end of the reporting period into ordinary shares; (e) an issue of options, warrants, or convertible instruments; and (f) the achievement of conditions that would result in the issue of contingently issuable shares. amounts are not adjusted for such transactions occurring after the reporting period because such transactions do not affect the amount of capital used to produce profit or loss for the period. 72 Financial instruments and other contracts generating potential ordinary shar .....

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Financial Instruments: Disclosures). 73 If an entity discloses, in addition to basic and diluted , amounts per share using a reported component of the statement of profit and loss other than one required by this Standard, such amounts shall be calculated using the weighted average number of ordinary shares determined in accordance with this Standard. Basic and diluted amounts per share relating to such a component shall be disclosed with equal prominence and presented in the notes. An entity sha .....

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ppendix A Application guidance This appendix is an integral part of the Ind AS. Profit or loss attributable to the parent entity A1 For the purpose of calculating based on the consolidated financial statements, profit or loss attributable to the parent entity refers to profit or loss of the consolidated entity after adjusting for non-controlling interests. Rights issues A2 The issue of ordinary shares at the time of exercise or conversion of potential ordinary shares does not usually give rise t .....

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periods before the rights issue is the number of ordinary shares outstanding before the issue, multiplied by the following factor: Fair value per share immediately before the exercise of rights Theoretical ex-rights fair value per share The theoretical ex-rights fair value per share is calculated by adding the aggregate fair value of the shares immediately before the exercise of the rights to the proceeds from the exercise of the rights, and dividing by the number of shares outstanding after th .....

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ble to the parent entity of (Rs. 7,200), a loss attributable to the parent entity of (Rs. 2,400), and 2,000 ordinary shares and 400 potential ordinary shares outstanding. The entity s basic is ₹ 2.40 for continuing operations, (Rs. 3.60) for discontinued operations and (Rs. 1.20) for the loss. The 400 potential ordinary shares are included in the diluted calculation because the resulting ₹ 2.00 for continuing operations is dilutive, assuming no profit or loss impact of those 400 pote .....

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e of calculating diluted , the average market price of ordinary shares assumed to be issued is calculated on the basis of the average market price of the ordinary shares during the period. Theoretically, every market transaction for an entity s ordinary shares could be included in the determination of the average market price. As a practical matter, however, a simple average of weekly or monthly prices is usually adequate. A5 Generally, closing market prices are adequate for calculating the aver .....

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g greatly and the closing market prices no longer produce a representative average price. Options, warrants and their equivalents A6 Options or warrants to purchase convertible instruments are assumed to be exercised to purchase the convertible instrument whenever the average prices of both the convertible instrument and the ordinary shares obtainable upon conversion are above the exercise price of the options or warrants. However, exercise is not assumed unless conversion of similar outstanding .....

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which the instrument may be tendered under the option or warrant agreement and the resulting discount establishes an effective exercise price below the market price of the ordinary shares obtainable upon exercise. In the calculation of diluted , those options or warrants are assumed to be exercised and the debt or other instruments are assumed to be tendered. If tendering cash is more advantageous to the option or warrant holder and the contract permits tendering cash, tendering of cash is assum .....

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the entity (or its parent or a subsidiary). In the calculation of diluted , those options or warrants are assumed to be exercised and the proceeds applied to purchase the debt at its average market price rather than to purchase ordinary shares. However, the excess proceeds received from the assumed exercise over the amount used for the assumed purchase of debt are considered (ie assumed to be used to buy back ordinary shares) in the diluted calculation. Interest (net of tax) on any debt assumed .....

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7; 4,200. The difference between the 150 ordinary shares issued and the 120 ordinary shares received from satisfying the put option (30 incremental ordinary shares) is added to the denominator in calculating diluted . Instruments of subsidiaries, joint ventures or associates A11 Potential ordinary shares of a subsidiary, joint venture or associate convertible into either ordinary shares of the subsidiary, joint venture or associate, or ordinary shares of the parent or investors with joint contro .....

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uments of the subsidiary, joint venture or associate. (b) instruments of a subsidiary, joint venture or associate that are convertible into the reporting entity s ordinary shares are considered among the potential ordinary shares of the reporting entity for the purpose of calculating diluted . Likewise, options or warrants issued by a subsidiary, joint venture or associate to purchase ordinary shares of the reporting entity are considered among the potential ordinary shares of the reporting enti .....

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e profit or loss recorded by the reporting entity (such as dividend income or equity method income) that is attributable to the increase in the number of ordinary shares of the subsidiary, joint venture or associate outstanding as a result of the assumed conversion. The denominator of the diluted calculation is not affected because the number of ordinary shares of the reporting entity outstanding would not change upon assumed conversion. Participating equity instruments and two-class ordinary sh .....

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version is assumed for those instruments described in paragraph A13 that are convertible into ordinary shares if the effect is dilutive. For those instruments that are not convertible into a class of ordinary shares, profit or loss for the period is allocated to the different classes of shares and participating equity instruments in accordance with their dividend rights or other rights to participate in undistributed earnings. To calculate basic and diluted : (a) profit or loss attributable to o .....

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profit or loss for the period had been distributed. The total profit or loss allocated to each class of equity instrument is determined by adding together the amount allocated for dividends and the amount allocated for a participation feature. (c) the total amount of profit or loss allocated to each class of equity instrument is divided by the number of outstanding instruments to which the earnings are allocated to determine the for the instrument. For the calculation of diluted , all potential .....

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equivalent of warrants or options in the calculation of diluted . The unpaid balance is assumed to represent proceeds used to purchase ordinary shares. The number of shares included in diluted is the difference between the number of shares subscribed and the number of shares assumed to be purchased. Appendix 1 Note: This Appendix is not a part of the Indian Accounting Standard. The purpose of this Appendix is only to bring out the major differences, if any, between Indian Accounting Standard (In .....

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ents. 2 Different terminology is used, as used in existing laws eg, the term Statement of profit and loss is used instead of Statement of comprehensive income . The words approval of the financial statements for issue have been used instead of authorisation of the financial statements for issue in the context of financial statements considered for the purpose of events after the reporting period. 3 Paragraph 2 of IAS 33 requires that the entire standard applies to: (a) the separate or individual .....

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(i) whose ordinary shares or potential ordinary shares are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets) or (ii) that files, or is in the process of filing, its financial statements with a Securities Regulator or other regulatory organisation for the purpose of issuing ordinary shares in a public market. It also requires that an entity that discloses shall calculate and disclose in accordance with this Standa .....

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