GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Accounting Policies - only for AY 2016-17

ICDS - 01 (old) - Rule - Old - ICDS for AY 2016-17 (Since withdrawn) - Other Direct Tax / Income Tax - ICDS - 01 (old) - Accounting Policies [See: Notification No. 32/2015 Dated:- 31-3-2015] [ Came into force with effect from 1st day of April, 2015, - Only for AY 2016-17] Since Withdrawn vide notification no. 86/2016 dated 29-9-2016 ICDS I A. INCOME COMPUTATION AND DISCLOSURE STANDARD I RELATING TO ACCOUNTING POLICIES Preamble This Income Computation and Disclosure Standard is applicable for com .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

licies. Fundamental Accounting Assumptions 2. The following are fundamental accounting assumptions, namely: - (a) Going Concern "Going concern" refers to the assumption that the person has neither the intention nor the necessity of liquidation or of curtailing materially the scale of the business, profession or vocation and intends to continue his business, profession or vocation for the foreseeable future. (b) Consistency "Consistency" refers to the assumption that accountin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ounting Policies 4. Accounting policies adopted by a person shall be such so as to represent a true and fair view of the state of affairs and income of the business, profession or vocation. For this purpose, (i) the treatment and presentation of transactions and events shall be governed by their substance and not merely by the legal form; and (ii) marked to market loss or an expected loss shall not be recognised unless the recognition of such loss is in accordance with the provisions of any othe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version