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Accounting Standards

ICAI Accounting Standards differentiating Lease Transactions has no relevance in allowing Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) that the Accounting Standards differentiating lease transactions has no relevance in granting deduction under...

Covid-19 Disruptions: ICAI Advisory on Accounting and Assurance related issues for F.Y - 2019-20

Financial Reporting - High-Level Independent Committee - COP Fees - Cash Flows - ICAI - Taxscan

ICAI issues Advisory on Impact of Coronavirus on Financial Reporting and the Auditors Consideration

ICAI proposes Twelve New Accounting Standards for Local Bodies

ICAI releases Exposure Draft Accounting Standard (AS) on Presentation of Financial Statements [Read...

A Provision made as per Accounting Standards of ICAI Excludable from Book Profits: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata has held that a provision made according to the Accounting Standards of the Institute of Chartered Accountants of India (ICAI) can be excluded while...

ICAI issues Accounting Standards for Local Bodies

The Institute of Chartered Accountants of India ( ICAI ) has issued Accounting Standards for Local Bodies. The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting...

ICAI releases FAQs on SA 570 (Revised), ‘Going Concern’ [Read FAQs]

The Institute of Chartered Accountants of India ( ICAI ) has issued Frequently Asked Questions on SA 570 (Revised), ‘Going Concern’ (Applicable for audits of financial year 2017-18). ICAI has issued...

Certain Govt Companies Exempted from Ind AS for Deferred Tax Assets [Read Notification]

The Ministry of Corporate Affairs (MCA) last day notified that the provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability are...

MCA Notifies Govt Companies to which Accounting Standards relating to Deferred Tax Asset or Liability are not applicable [Read Notification]

The Ministry of Corporate Affairs (MCA) last day notified the Government Companies for which the provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or...