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	<title>TaxGuru &#187; ACCOUNTING STANDARDS</title>
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	<link>http://taxguru.in</link>
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		<title>Companies need not maintain 2 set of book of account</title>
		<link>http://taxguru.in/company-law/companies-maintain-2-set-book-account.html</link>
		<comments>http://taxguru.in/company-law/companies-maintain-2-set-book-account.html#comments</comments>
		<pubDate>Tue, 18 Oct 2011 22:30:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[international financial reporting standard]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=44698</guid>
		<description><![CDATA[Companies wanting to migrate to international auditing norms, the International Financial reporting Standard (IFRS), may be spared from maintaining two books of accounts -- one under the Companies Act and the other for taxation purposes, if a Finance Ministry proposal gets implemented. The proposal, which was floated in a Discussion Paper on Tax Accounting Standards (TAS) issued by the ministry today, aims at 'reducing the complinace burden on businesses'.]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/companies-maintain-2-set-book-account.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Govt notifies 35 accounting standards in line with IFRS</title>
		<link>http://taxguru.in/company-law/govt-notifies-35-accounting-standards-in-line-with-ifrs.html</link>
		<comments>http://taxguru.in/company-law/govt-notifies-35-accounting-standards-in-line-with-ifrs.html#comments</comments>
		<pubDate>Sun, 27 Feb 2011 04:53:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Files]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[govt]]></category>
		<category><![CDATA[IFRS]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=37092</guid>
		<description><![CDATA[The government today notified 35 accounting standards with a view to update Indian accounting norms in line with the global audit practice IFRS. The companies, however, will be given time to adjust to the new accounting standards as government has now deferred the implementation of the International Financial Reporting Standards (IFRS) beyond April 1 this year. ]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/govt-notifies-35-accounting-standards-in-line-with-ifrs.html/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Section 210A of the Companies Act, 1956 &#8211; Constitution of National Advisory Committee on Accounting Standards &#8211; Notified Committee</title>
		<link>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-notified-committee.html</link>
		<comments>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-notified-committee.html#comments</comments>
		<pubDate>Wed, 26 Jan 2011 14:12:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Companies Act 1956 - Constitution of National Advisory Committee]]></category>
		<category><![CDATA[Section 210A]]></category>

		<guid isPermaLink="false">http://taxguru.in/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-notified-committee-476.html</guid>
		<description><![CDATA[NOTIFICATION No. S.O.107(E), dated 19-1-2011 In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby constitutes an Advisory Committee to be called the National Advisory Committee on Accounting Standards, consisting of the following persons to advise the Central Government on the [...]]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-notified-committee.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>FICCI Call to Defer Compliance Date of IFRS from April 1, 2011</title>
		<link>http://taxguru.in/finance/ficci-call-to-defer-compliance-date-of-ifrs-from-april-1-2011.html</link>
		<comments>http://taxguru.in/finance/ficci-call-to-defer-compliance-date-of-ifrs-from-april-1-2011.html#comments</comments>
		<pubDate>Fri, 31 Dec 2010 02:00:25 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[ficci]]></category>
		<category><![CDATA[IFRS]]></category>

		<guid isPermaLink="false">http://taxguru.in/ficci-call-to-defer-compliance-date-of-ifrs-from-april-1-2011-1039.html</guid>
		<description><![CDATA[FICCI has urged the Government to defer the date of implementation of compliance with IFRS (International Financial Reporting Standards) by India Inc. from April 1, 2011 to a date when companies are better equipped to deal with the new envisaged acco]]></description>
		<wfw:commentRss>http://taxguru.in/finance/ficci-call-to-defer-compliance-date-of-ifrs-from-april-1-2011.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Finance Minister’s Address at 42nd Annual Conference of SIRCof ICAI</title>
		<link>http://taxguru.in/chartered-accountant/finance-minister%e2%80%99s-address-at-42nd-annual-conference-of-sircof-icai.html</link>
		<comments>http://taxguru.in/chartered-accountant/finance-minister%e2%80%99s-address-at-42nd-annual-conference-of-sircof-icai.html#comments</comments>
		<pubDate>Sun, 28 Nov 2010 03:10:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[chartered accountants]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[SIRC]]></category>

		<guid isPermaLink="false">http://taxguru.in/finance-minister%e2%80%99s-address-at-42nd-annual-conference-of-sircof-icai-741.html</guid>
		<description><![CDATA[Union Finance Minister Mr. Pranab Mukherjee asked Chartered Accountants to apply Accounting Standards uniformly and assist in presenting the true picture of the financial health of the company while ensuring accountability in all aspects. He said tha]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/finance-minister%e2%80%99s-address-at-42nd-annual-conference-of-sircof-icai.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>National Advisory Committee on Accounting Standards Almost Finalizes drafting of the Converged Accounting Standards</title>
		<link>http://taxguru.in/finance/national-advisory-committee-on-accounting-standards-almost-finalizes-drafting-of-the-converged-accounting-standards.html</link>
		<comments>http://taxguru.in/finance/national-advisory-committee-on-accounting-standards-almost-finalizes-drafting-of-the-converged-accounting-standards.html#comments</comments>
		<pubDate>Sat, 06 Nov 2010 06:15:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[national advisory committee]]></category>

		<guid isPermaLink="false">http://taxguru.in/national-advisory-committee-on-accounting-standards-almost-finalizes-drafting-of-the-converged-accounting-standards-507.html</guid>
		<description><![CDATA[Ministry of Corporate Affairs, after wide consultations with all stakeholders and regulators, has drawn up a clear roadmap for implementation of Indian Accounting Standards converged with IFRS. Converged Standards will have to be followed by Phase-I ]]></description>
		<wfw:commentRss>http://taxguru.in/finance/national-advisory-committee-on-accounting-standards-almost-finalizes-drafting-of-the-converged-accounting-standards.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Section 210A of the Companies Act 1956 &#8211; Constitution of National Advisory Committee on Accounting Standards &#8211; Amendment in Notification number S.O. 1800(E), dated 21-7-2009</title>
		<link>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-amendment-in-notification-number-s-o-1800e-dated-21-7-2009.html</link>
		<comments>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-amendment-in-notification-number-s-o-1800e-dated-21-7-2009.html#comments</comments>
		<pubDate>Tue, 27 Jul 2010 02:05:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Companies Act 1956]]></category>
		<category><![CDATA[national advisory committee]]></category>
		<category><![CDATA[Section 210A]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=32746</guid>
		<description><![CDATA[In exercise of the powers conferred by sub-section (1) of Section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following amendment in the notification of Government of India, Ministry of Corporate Affairs, published in the Gazette of India  , Extraordinary, dated the 21st July, 2009 vide number S.O. 1800(E), dated the 21st July, 2009, namely :–In the said notification for the figures “20-7-2010” wherever they occur, the figures “20-8-2010” shall be substituted.]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/section-210a-of-the-companies-act-1956-constitution-of-national-advisory-committee-on-accounting-standards-amendment-in-notification-number-s-o-1800e-dated-21-7-2009.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI &#8211; Opportunity for Skilled Translators</title>
		<link>http://taxguru.in/chartered-accountant/icai-opportunity-for-skilled-translators.html</link>
		<comments>http://taxguru.in/chartered-accountant/icai-opportunity-for-skilled-translators.html#comments</comments>
		<pubDate>Thu, 15 Jul 2010 01:45:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[Skilled Translators]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=31985</guid>
		<description><![CDATA[Opportunity for Skilled Translators (Hindi) to translate all Converged Accounting Standards (ASs) in Hindi in the project of the Accounting Standards Board (ASB). The Institute of Chartered Accountants of India (ICAI), an apex premier Accounting professional body set up by an Act of Parliament, has set up the Accounting Standards Board (ASB) for formulating the Accounting Standards. ]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/icai-opportunity-for-skilled-translators.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Convergence with International Financial Reporting Standards</title>
		<link>http://taxguru.in/finance/convergence-with-international-financial-reporting-standards.html</link>
		<comments>http://taxguru.in/finance/convergence-with-international-financial-reporting-standards.html#comments</comments>
		<pubDate>Thu, 11 Mar 2010 02:48:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[Minister for Corporate Affairs]]></category>
		<category><![CDATA[Salman Khirshid]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=23317</guid>
		<description><![CDATA[The Government has informed Lok Sabha that the Government has adopted the approach of convergence of Accounting Standards issued under the Companies Act, 1956 with the International Financial Reporting Standards (IFRS), keeping in view the requirements relevant to Indian conditions and to enable Indian companies and concerned regulatory bodies to transform to the new standards smoothly.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/convergence-with-international-financial-reporting-standards.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Nucleus Software wins Gold shield for Best Annual Report, 2009, by ICAI</title>
		<link>http://taxguru.in/chartered-accountant/nucleus-software-wins-gold-shield-for-best-annual-report-2009-by-icai.html</link>
		<comments>http://taxguru.in/chartered-accountant/nucleus-software-wins-gold-shield-for-best-annual-report-2009-by-icai.html#comments</comments>
		<pubDate>Thu, 04 Feb 2010 03:40:20 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[annual report]]></category>
		<category><![CDATA[Awards for Excellence]]></category>
		<category><![CDATA[Communication]]></category>
		<category><![CDATA[Entertainment]]></category>
		<category><![CDATA[financial reporting]]></category>
		<category><![CDATA[Information Technology]]></category>
		<category><![CDATA[Nucleus Software]]></category>
		<category><![CDATA[statutory guidelines]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=20534</guid>
		<description><![CDATA[The award under different categories is conferred on the basis of evaluation administered by ICAI's committee for the degree of compliance with the accounting standards, statutory guidelines and other relevant pronouncements which also include governance.]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/nucleus-software-wins-gold-shield-for-best-annual-report-2009-by-icai.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Two separate sets of accounting standards u/s section 211(3C) of the Companies act agreed upon by the core group for convergence of Indian accounting standards with IFRS</title>
		<link>http://taxguru.in/finance/two-separate-sets-of-accounting-standards-us-section-2113c-of-the-companies-act-agreed-upon-by-the-core-group-for-convergence-of-indian-accounting-standards-with-ifrs.html</link>
		<comments>http://taxguru.in/finance/two-separate-sets-of-accounting-standards-us-section-2113c-of-the-companies-act-agreed-upon-by-the-core-group-for-convergence-of-indian-accounting-standards-with-ifrs.html#comments</comments>
		<pubDate>Fri, 22 Jan 2010 17:18:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[balance sheet]]></category>
		<category><![CDATA[balance sheets]]></category>
		<category><![CDATA[bse sensex]]></category>
		<category><![CDATA[compliance]]></category>
		<category><![CDATA[convergence]]></category>
		<category><![CDATA[core group]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[insurance companies]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[medium companies]]></category>
		<category><![CDATA[net worth]]></category>
		<category><![CDATA[nifty 50]]></category>
		<category><![CDATA[phase ii]]></category>
		<category><![CDATA[phase iii]]></category>
		<category><![CDATA[sensex 30]]></category>
		<category><![CDATA[stock exchanges]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19903</guid>
		<description><![CDATA[The Core Group, constituted by the Ministry of Corporate Affairs for convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS) from April, 2011, that held its meeting on 11th January 2010 agreed that in view of the roadmap for achieving convergence, there will be two separate sets of Accounting Standards u/s Section 211(3C) of the Companies Act, 1956. ]]></description>
		<wfw:commentRss>http://taxguru.in/finance/two-separate-sets-of-accounting-standards-us-section-2113c-of-the-companies-act-agreed-upon-by-the-core-group-for-convergence-of-indian-accounting-standards-with-ifrs.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Small and medium enterprises will not have to prepare their accounts as per IFRS</title>
		<link>http://taxguru.in/finance/small-and-medium-enterprises-will-not-have-to-prepare-their-accounts-as-per-ifrs.html</link>
		<comments>http://taxguru.in/finance/small-and-medium-enterprises-will-not-have-to-prepare-their-accounts-as-per-ifrs.html#comments</comments>
		<pubDate>Thu, 21 Jan 2010 03:07:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[core committee]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[government finalised]]></category>
		<category><![CDATA[indian economy]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[insurance entities]]></category>
		<category><![CDATA[international arena]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[medium enterprise]]></category>
		<category><![CDATA[plant and machinery]]></category>
		<category><![CDATA[Small and Medium Enterprises]]></category>
		<category><![CDATA[small enterprise]]></category>
		<category><![CDATA[sme sector]]></category>
		<category><![CDATA[venture capital funds]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19820</guid>
		<description><![CDATA[Small and medium enterprises (SMEs) in the country will not have to prepare their accounts as per the International Financial Reporting Standards (IFRS) from April 1, 2011, saving them significant cost of switching to the more rigorous accounting standard A government-constituted core panel on IFRS has decided to exempt SMEs from the first phase of convergence falling due in 2011.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/small-and-medium-enterprises-will-not-have-to-prepare-their-accounts-as-per-ifrs.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Government may introduce bill to amend the Companies Act in the budget session</title>
		<link>http://taxguru.in/company-law/government-may-introduce-bill-to-amend-the-companies-act-in-the-budget-session.html</link>
		<comments>http://taxguru.in/company-law/government-may-introduce-bill-to-amend-the-companies-act-in-the-budget-session.html#comments</comments>
		<pubDate>Thu, 14 Jan 2010 02:50:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[affairs ministry]]></category>
		<category><![CDATA[budget session]]></category>
		<category><![CDATA[convergence]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[forthcoming budget]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[necessary amendments]]></category>
		<category><![CDATA[regulators]]></category>
		<category><![CDATA[reserve bank of india]]></category>
		<category><![CDATA[roadmap]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19364</guid>
		<description><![CDATA[The government plans to introduce a bill to amend the Companies Act in the budget session of parliament to enable convergence of Indian accounting standards with the International Financial Reporting Standards (IFRS). "The ministry will carry out the exercise for necessary amendments in the Companies Act in the forthcoming budget session of parliament," said a statement from the corporate affairs ministry.]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/government-may-introduce-bill-to-amend-the-companies-act-in-the-budget-session.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Government committed to converge to IFRS by April, 2011</title>
		<link>http://taxguru.in/finance/government-committed-to-converge-to-ifrs-by-april-2011.html</link>
		<comments>http://taxguru.in/finance/government-committed-to-converge-to-ifrs-by-april-2011.html#comments</comments>
		<pubDate>Wed, 13 Jan 2010 16:22:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[budget session]]></category>
		<category><![CDATA[chairmanship]]></category>
		<category><![CDATA[convergence]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[forthcoming budget]]></category>
		<category><![CDATA[industry representatives]]></category>
		<category><![CDATA[insurance companies]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[ministry of finance]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19275</guid>
		<description><![CDATA[The core group for convergence of Indian Accounting Standards with International Financial Reporting Standards accepts the Report of Sub-Group 1. Ministry of corporate affairs reiterates commitment to carry out the convergence of Indian accounting standards by April, 2011.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/government-committed-to-converge-to-ifrs-by-april-2011.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Suspension of Accounting Standards 11 under Bombay high courts scanner</title>
		<link>http://taxguru.in/finance/suspension-of-accounting-standards-11-under-bombay-high-courts-scanner.html</link>
		<comments>http://taxguru.in/finance/suspension-of-accounting-standards-11-under-bombay-high-courts-scanner.html#comments</comments>
		<pubDate>Wed, 13 Jan 2010 03:42:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[assets and liabilities]]></category>
		<category><![CDATA[bombay high]]></category>
		<category><![CDATA[chambers of commerce and industry]]></category>
		<category><![CDATA[confederation of indian industry]]></category>
		<category><![CDATA[foreign currency]]></category>
		<category><![CDATA[global recession]]></category>
		<category><![CDATA[high courts]]></category>
		<category><![CDATA[industry of india]]></category>
		<category><![CDATA[monetary assets]]></category>
		<category><![CDATA[national advisory committee]]></category>
		<category><![CDATA[petitioner]]></category>
		<category><![CDATA[union government]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=19258</guid>
		<description><![CDATA[The Union governments move to suspend Accounting Standards 11, allowing companies to show foreign currency liabilities as assets, has come under the Bombay high courts scanner. The petition filed by an organisation of city-based legal experts, Just Society, has claimed that this permits firms that might otherwise be sick to paint a rosy picture .]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI Invited Suggestions, queries/comments relating to tax issues arising from implementation of IFRS</title>
		<link>http://taxguru.in/finance/icai-invited-suggestions-queriescomments-relating-to-tax-issues-arising-from-implementation-of-ifrs.html</link>
		<comments>http://taxguru.in/finance/icai-invited-suggestions-queriescomments-relating-to-tax-issues-arising-from-implementation-of-ifrs.html#comments</comments>
		<pubDate>Sat, 09 Jan 2010 01:00:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[convergence]]></category>
		<category><![CDATA[direct taxes]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[icai org]]></category>
		<category><![CDATA[implementation]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[taxes committee]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=18900</guid>
		<description><![CDATA[The Central Board of Direct taxes and the Institute of Chartered Accountants of India have jointly constituted a study group to identify direct tax issues arising from convergence of Indian Accounting Standards [IAS] with the International Financial Reporting Standards [IFRS].The 1st meeting of the aforesaid Study Group was held on 6th January, 2010 in the head office of the Institute at New Delhi. The meeting was chaired by the President, ICAI.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Admissibility of deduction from book profit of ‘reduction in revaluation reserve’ under MAT provisions</title>
		<link>http://taxguru.in/income-tax-case-laws/admissibility-of-deduction-from-book-profit-of-%e2%80%98reduction-in-revaluation-reserve%e2%80%99-under-mat-provisions.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/admissibility-of-deduction-from-book-profit-of-%e2%80%98reduction-in-revaluation-reserve%e2%80%99-under-mat-provisions.html#comments</comments>
		<pubDate>Wed, 30 Dec 2009 02:03:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[appellate tribunal]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[delhi high court]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[indo rama synthetics]]></category>
		<category><![CDATA[net profit]]></category>
		<category><![CDATA[profit and loss]]></category>
		<category><![CDATA[profit and loss account]]></category>
		<category><![CDATA[revaluation reserve]]></category>
		<category><![CDATA[tax liability]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=18297</guid>
		<description><![CDATA[This ruling provides guidance that withdrawal from a revaluation reserve is permitted to be reduced from the book profit, computed under the MAT provisions, only in a case where the book profit was increased by the amount of revaluation reserve in the year of creation.]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Section 14A of and date of applicability of Rule 8D, allowability on interest on investment held as stock in trade</title>
		<link>http://taxguru.in/income-tax/section-14a-of-and-date-of-applicability-of-rule-8d-allowability-on-interest-on-investment-held-as-stock-in-trade.html</link>
		<comments>http://taxguru.in/income-tax/section-14a-of-and-date-of-applicability-of-rule-8d-allowability-on-interest-on-investment-held-as-stock-in-trade.html#comments</comments>
		<pubDate>Thu, 17 Dec 2009 02:58:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[apollo tyres]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[CAPITAL GAIN]]></category>
		<category><![CDATA[chemicals]]></category>
		<category><![CDATA[delhi high court]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[disclosure]]></category>
		<category><![CDATA[fertilizers]]></category>
		<category><![CDATA[hotels]]></category>
		<category><![CDATA[khaitan]]></category>
		<category><![CDATA[provisions]]></category>
		<category><![CDATA[rule 8D]]></category>
		<category><![CDATA[section 14a]]></category>
		<category><![CDATA[straight line]]></category>
		<category><![CDATA[Supreme Court]]></category>
		<category><![CDATA[weaving mills]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=17454</guid>
		<description><![CDATA[Whether for the purpose of disallowance under Section 14A of the Act:-(a) Rule 8D is to be considered as retrospective; Whether before application of Rule 8D the Assessing Officer should give a holding that he is not satisfied for the basis or quantum of expenses disallowed by the Assessee; b) Whether disallowance is to be made if Investment is held as stock-in-trade?]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Frequently asked questions on section 115JB related to adjustment of Depreciation, Capital gain, Prior period Expenses, Loss etc</title>
		<link>http://taxguru.in/income-tax/frequently-asked-questions-on-section-115jb-related-to-adjustment-of-depreciation-capital-gain-prior-period-expenses-loss-etc.html</link>
		<comments>http://taxguru.in/income-tax/frequently-asked-questions-on-section-115jb-related-to-adjustment-of-depreciation-capital-gain-prior-period-expenses-loss-etc.html#comments</comments>
		<pubDate>Thu, 17 Dec 2009 02:46:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[CAPITAL GAIN]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[disclosure]]></category>
		<category><![CDATA[provisions]]></category>
		<category><![CDATA[straight line]]></category>
		<category><![CDATA[Supreme Court]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=17453</guid>
		<description><![CDATA[Whether in determination of book profit u/s 115JB of I. T. Act, adjustment is to be made for:-(a) Depreciation not debited to P &#038; L Account but a note is given in respect thereof; (b) Capital gain not credited to P &#038; L account and taken to reserve; (c) Prior period expenses and extra ordinary items; (d) Difference in the amount of depreciation on account of change in the method of providing depreciation i.e. straight line to WDV or vice-versa?]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Scope of clause (a) of explanation to S. 115JB —the amount of Income-tax paid or payable, and the provision therefore</title>
		<link>http://taxguru.in/income-tax/scope-of-clause-a-of-explanation-to-s-115jb-%e2%80%94the-amount-of-income-tax-paid-or-payable-and-the-provision-therefore.html</link>
		<comments>http://taxguru.in/income-tax/scope-of-clause-a-of-explanation-to-s-115jb-%e2%80%94the-amount-of-income-tax-paid-or-payable-and-the-provision-therefore.html#comments</comments>
		<pubDate>Wed, 09 Dec 2009 03:10:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[accounting practices]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[apollo tyres]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[book profits]]></category>
		<category><![CDATA[Companies Act]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[income tax act 1961]]></category>
		<category><![CDATA[income tax authorities]]></category>
		<category><![CDATA[net profit]]></category>
		<category><![CDATA[profit and loss]]></category>
		<category><![CDATA[profit and loss account]]></category>
		<category><![CDATA[provision]]></category>
		<category><![CDATA[proviso]]></category>
		<category><![CDATA[scope]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=16742</guid>
		<description><![CDATA[ S. 115JB(1) of the Income-tax Act, 1961 (Act in short) provides for payment of a minimum alternate tax in case the Income-tax computed on the total income falls short of 10% of the book profits of the company. For ensuring that companies do not adopt accounting practices to render the provision otiose, Ss.(2) requires the profit and loss account of companies to be prepared as per Parts II and III of Schedule VI to the Companies Act, 1956. Proviso to this sub-section further ensures that the accounting policies, accounting standards and the method and rates of depreciation adopted for the purposes of S. 210 of the Companies Act, are not varied while computing ‘book profit’ u/s.115JB.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Classical Accountancy to IFRS (A bird’s-eye view) Part I</title>
		<link>http://taxguru.in/finance/classical-accountancy-to-ifrs-a-bird%e2%80%99s-eye-view-part-i.html</link>
		<comments>http://taxguru.in/finance/classical-accountancy-to-ifrs-a-bird%e2%80%99s-eye-view-part-i.html#comments</comments>
		<pubDate>Tue, 08 Dec 2009 06:30:33 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[balance sheet]]></category>
		<category><![CDATA[capital of india]]></category>
		<category><![CDATA[continuous play]]></category>
		<category><![CDATA[eye view]]></category>
		<category><![CDATA[financial meltdown]]></category>
		<category><![CDATA[glimpses]]></category>
		<category><![CDATA[ledger account]]></category>
		<category><![CDATA[periodical]]></category>
		<category><![CDATA[politicians]]></category>
		<category><![CDATA[stakeholders]]></category>
		<category><![CDATA[test of time]]></category>
		<category><![CDATA[trial balance]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=16686</guid>
		<description><![CDATA[These are challenging times in many respects. A global financial meltdown in which India cannot escape without hurt, a gruesome terrorist attack on 26/11 on the financial capital of India i.e., our dear Mumbai, politicians’ continuous play and ensuing election and what not. In the field of Accounting and Auditing also we are expected to start a new reporting procedure, namely, IFRS. It is stated to be applicable from 1st April 2011. However in reality, one will have to start looking at the accounts in accordance with IFRS requirements much earlier, say, from 1st of April 2009.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Accounting for financial instruments and derivatives</title>
		<link>http://taxguru.in/finance/accounting-for-financial-instruments-and-derivatives.html</link>
		<comments>http://taxguru.in/finance/accounting-for-financial-instruments-and-derivatives.html#comments</comments>
		<pubDate>Tue, 08 Dec 2009 03:26:54 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[barclays bank]]></category>
		<category><![CDATA[chartered accountants]]></category>
		<category><![CDATA[common people]]></category>
		<category><![CDATA[convertible bonds]]></category>
		<category><![CDATA[convertible debentures]]></category>
		<category><![CDATA[derivative market]]></category>
		<category><![CDATA[derivatives market]]></category>
		<category><![CDATA[financial engineering]]></category>
		<category><![CDATA[financial instruments]]></category>
		<category><![CDATA[foreign currency]]></category>
		<category><![CDATA[gdp of the world]]></category>
		<category><![CDATA[inroads]]></category>
		<category><![CDATA[market turnover]]></category>
		<category><![CDATA[open positions]]></category>
		<category><![CDATA[page document]]></category>
		<category><![CDATA[presentation aspects]]></category>
		<category><![CDATA[real goods]]></category>
		<category><![CDATA[subprime crisis]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=16651</guid>
		<description><![CDATA[Accounting Standards (AS) 30 and 31 have been issued by our Institute and will come into effect from April 1, 2011 with early adoption being recommendatory. AS-30 deals with recognition and measurement of financial instruments (including derivatives). AS-31 deals with presentation aspects and, in particular, with distinction between liabilities and equity. This distinction can be complex where corporates issue instruments like convertible debentures and foreign currency convertible bonds, which carry features of both debt and equity. AS-32 deals with disclosures. Small and medium entities are exempted from these Standards.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Practical guide to documentation for audit ,peer review, Financial Review and other assurance services</title>
		<link>http://taxguru.in/finance/practical-guide-to-documentation-for-audit-peer-review-financial-review-and-other-assurance-services.html</link>
		<comments>http://taxguru.in/finance/practical-guide-to-documentation-for-audit-peer-review-financial-review-and-other-assurance-services.html#comments</comments>
		<pubDate>Sun, 29 Nov 2009 04:33:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[absolute level]]></category>
		<category><![CDATA[accounting records]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit engagement]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[decisive evidence]]></category>
		<category><![CDATA[disclosures]]></category>
		<category><![CDATA[engagements]]></category>
		<category><![CDATA[financial information]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[information documentation]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[internal accounting]]></category>
		<category><![CDATA[limited review]]></category>
		<category><![CDATA[moderate level]]></category>
		<category><![CDATA[observation]]></category>
		<category><![CDATA[word document]]></category>
		<category><![CDATA[working papers]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=15783</guid>
		<description><![CDATA[The word “document” is used to refer to a written or printed paper that bears the original, official, or legal form of something and can be used to furnish decisive evidence or information. “Documentation” refers to the act or an instance of the supplying of documents or supporting references or records.]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Exposure draft of XBRL (eXtensible Business Reporting Language) Banking Taxonomy</title>
		<link>http://taxguru.in/finance/exposure-draft-of-xbrl-extensible-business-reporting-language-banking-taxonomy.html</link>
		<comments>http://taxguru.in/finance/exposure-draft-of-xbrl-extensible-business-reporting-language-banking-taxonomy.html#comments</comments>
		<pubDate>Fri, 20 Nov 2009 17:29:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[banking regulation]]></category>
		<category><![CDATA[cash flow statement]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[electronic format]]></category>
		<category><![CDATA[exposure draft]]></category>
		<category><![CDATA[eXtensible Business Reporting Language]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[regulation act]]></category>
		<category><![CDATA[XBRL]]></category>
		<category><![CDATA[xml languages]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=15073</guid>
		<description><![CDATA[XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. XBRL is one of a family of "XML" languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL provides major benefits in the preparation, analysis and communication of business information.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>MAT applicable on capital gains included in book even if same is not liable to be taxed</title>
		<link>http://taxguru.in/income-tax-case-laws/mat-is-applicable-on-capital-gains-included-in-book-even-if-same-is-not-liable-to-be-taxed.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/mat-is-applicable-on-capital-gains-included-in-book-even-if-same-is-not-liable-to-be-taxed.html#comments</comments>
		<pubDate>Fri, 06 Nov 2009 03:38:23 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit report]]></category>
		<category><![CDATA[audited accounts]]></category>
		<category><![CDATA[balance sheet]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[case law]]></category>
		<category><![CDATA[Companies Act]]></category>
		<category><![CDATA[explanations]]></category>
		<category><![CDATA[long term capital]]></category>
		<category><![CDATA[long term capital gain]]></category>
		<category><![CDATA[net profit]]></category>
		<category><![CDATA[new delhi]]></category>
		<category><![CDATA[profit and loss]]></category>
		<category><![CDATA[profit and loss account]]></category>
		<category><![CDATA[relevant paragraph]]></category>
		<category><![CDATA[section 3c]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=13840</guid>
		<description><![CDATA[The long term capital gain included in the net profit prepared under the Companies Act is not deductible from the net profit for the purpose of computing book profit u/s115JB; merely because the long term capital gain is not liable to be taxed under the normal provision of the Act for the reason that the assessee has made investment in specified schemes as contemplated u/s 54EC, it is not correct to say that it is also to be reduced from the net profit for the purpose of computing deduction u/s 115JB when the Explanation to section 115JB does not provide for any deduction in terms of section 54EC meaning thereby that section 54EC has no application in the computation of book profit u/s 115JB.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>NCAS will soon play the Supervisory role of both accounting and auditing standards</title>
		<link>http://taxguru.in/finance/ncas-will-soon-play-the-supervisory-role-of-both-accounting-and-auditing-standards.html</link>
		<comments>http://taxguru.in/finance/ncas-will-soon-play-the-supervisory-role-of-both-accounting-and-auditing-standards.html#comments</comments>
		<pubDate>Tue, 06 Oct 2009 14:12:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[affairs ministry]]></category>
		<category><![CDATA[Auditing Standards]]></category>
		<category><![CDATA[business line]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[company auditing]]></category>
		<category><![CDATA[comptroller]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[financial statement]]></category>
		<category><![CDATA[general accounting]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[national advisory committee]]></category>
		<category><![CDATA[regulatory bodies]]></category>
		<category><![CDATA[supervisory role]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=13361</guid>
		<description><![CDATA[The Government is planning to strengthen the National Advisory Committee on Accounting Standards (NACAS), a move that will make the Institute of Chartered Accountants of India (ICAI) report to NACAS. For this, it will hand over the supervisory role of both accounting and auditing standards to NACAS. NACAS was constituted in 2001 to examine only [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI planning to introduce sector-specific accounting standards by early next year</title>
		<link>http://taxguru.in/finance/icai-planning-to-introduce-sector-specific-accounting-standards-by-early-next-year.html</link>
		<comments>http://taxguru.in/finance/icai-planning-to-introduce-sector-specific-accounting-standards-by-early-next-year.html#comments</comments>
		<pubDate>Tue, 06 Oct 2009 13:57:16 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[central government]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[cmii]]></category>
		<category><![CDATA[construction education]]></category>
		<category><![CDATA[corporate accounts]]></category>
		<category><![CDATA[disclosures]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[industrial segments]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[norms]]></category>
		<category><![CDATA[oil and gas]]></category>
		<category><![CDATA[oil and gas exploration]]></category>
		<category><![CDATA[petrochemicals]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=13353</guid>
		<description><![CDATA[The Institute of Chartered Accountants of India (ICAI) is planning to introduce sector-specific accounting standards to bring in more transparency in handling corporate accounts. ICAI Committee for Members in the Industry (CMII) has already formed three groups in sectors such as insurance, retail and hospitality  and is in the process of forming another 19 groups [...]]]></description>
		<wfw:commentRss>http://taxguru.in/finance/icai-planning-to-introduce-sector-specific-accounting-standards-by-early-next-year.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sneak peek into the ‘Secretarial Standards’</title>
		<link>http://taxguru.in/finance/sneak-peek-into-the-%e2%80%98secretarial-standards%e2%80%99.html</link>
		<comments>http://taxguru.in/finance/sneak-peek-into-the-%e2%80%98secretarial-standards%e2%80%99.html#comments</comments>
		<pubDate>Fri, 18 Sep 2009 01:35:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[accounting principles]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Companies Act]]></category>
		<category><![CDATA[company secretaries of india]]></category>
		<category><![CDATA[corporate governance practices]]></category>
		<category><![CDATA[good corporate governance]]></category>
		<category><![CDATA[good corporate governance practices]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[ICSI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[institute of company secretaries]]></category>
		<category><![CDATA[institute of company secretaries of india]]></category>
		<category><![CDATA[sneak peek]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12743</guid>
		<description><![CDATA[As we all know that The Institute of Chartered Accountants of India (ICAI) has listed out numerous accounting principles and rules which are to be followed by the auditor fraternity while auditing the organizations they are appointed to audit for. ICAI has also introduced the Accounting Standards, most popularly called as ‘AS’ which are supplementary [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Discussion paper on proposals relating to amendments to the Listing Agreement</title>
		<link>http://taxguru.in/company-law/discussion-paper-on-proposals-relating-to-amendments-to-the-listing-agreement.html</link>
		<comments>http://taxguru.in/company-law/discussion-paper-on-proposals-relating-to-amendments-to-the-listing-agreement.html#comments</comments>
		<pubDate>Wed, 16 Sep 2009 01:57:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[SEBI]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit firm]]></category>
		<category><![CDATA[audit firms]]></category>
		<category><![CDATA[balance sheet items]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[disclosure requirements]]></category>
		<category><![CDATA[educational qualification]]></category>
		<category><![CDATA[external audit]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[Internal Auditor]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[limited review]]></category>
		<category><![CDATA[professional qualifications]]></category>
		<category><![CDATA[qualification requirements]]></category>
		<category><![CDATA[SEBI notifications]]></category>
		<category><![CDATA[statutory auditor]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12603</guid>
		<description><![CDATA[1. Background SEBI Committee on Disclosures and Accounting Standards (SCODA) is the standing Committee of SEBI that advises on matters relating to disclosures and accounting standards. As part of a review of the extant norms relating to disclosure requirements and accounting standards for listed entities, the Committee has deliberated on certain issues, the details of [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SEBI Committee recommended mandatory rotation of Partner doing audit of listed company</title>
		<link>http://taxguru.in/sebi/sebi-committee-recommended-mandatory-rotation-of-partner-doing-audit-of-listed-company.html</link>
		<comments>http://taxguru.in/sebi/sebi-committee-recommended-mandatory-rotation-of-partner-doing-audit-of-listed-company.html#comments</comments>
		<pubDate>Wed, 16 Sep 2009 01:34:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[SEBI]]></category>
		<category><![CDATA[accounting firm]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[appointment]]></category>
		<category><![CDATA[audit committee]]></category>
		<category><![CDATA[audit firms]]></category>
		<category><![CDATA[audit partner]]></category>
		<category><![CDATA[cfo]]></category>
		<category><![CDATA[disclosures]]></category>
		<category><![CDATA[external audit]]></category>
		<category><![CDATA[financial management expertise]]></category>
		<category><![CDATA[listed company]]></category>
		<category><![CDATA[mandatory rotation]]></category>
		<category><![CDATA[shareholders]]></category>
		<category><![CDATA[statutory auditors]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12601</guid>
		<description><![CDATA[SEBI Committee on Disclosures and Accounting Standards (SCODA) has recommended mandatory rotation — every five years — of the partners of the audit firms signing the accounts of a listed company. This is to ensure that the statutory auditors are independent from management, and also to break any continued long-term association of an audit partner [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Empanelment with ROC for Technical Scrutiny of Balance Sheets &amp; Format of Agreement</title>
		<link>http://taxguru.in/chartered-accountant/empanelment-with-roc-for-technical-scrutiny-of-balance-sheets-format-of-agreement.html</link>
		<comments>http://taxguru.in/chartered-accountant/empanelment-with-roc-for-technical-scrutiny-of-balance-sheets-format-of-agreement.html#comments</comments>
		<pubDate>Fri, 11 Sep 2009 00:52:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[balance sheets]]></category>
		<category><![CDATA[corporate affairs office]]></category>
		<category><![CDATA[cr 250]]></category>
		<category><![CDATA[cr 500]]></category>
		<category><![CDATA[Empanelment]]></category>
		<category><![CDATA[empanelment with roc]]></category>
		<category><![CDATA[model agreement]]></category>
		<category><![CDATA[office of registrar]]></category>
		<category><![CDATA[Registrar of Companies]]></category>
		<category><![CDATA[Statutory Audit]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=12449</guid>
		<description><![CDATA[Circular Issued by: &#8211; Government of India, Ministry of Corporate Affairs, Office of Registrar of Companies. Issued to: Local Chapter, ICAI/ICSI/ICWAI Sub: - Panel for outsourcing of work of Technical Scrutiny of Balance Sheets. This office  (ROC Office) is in process of preparing  a panel of professionals for outsourcing the work of Technical scrutiny of Balance sheets filed [...]]]></description>
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		<slash:comments>8</slash:comments>
		</item>
		<item>
		<title>Section 145A have disabled the assessee from frequently changing the method of valuation of the stocks</title>
		<link>http://taxguru.in/income-tax-case-laws/section-145a-have-disabled-the-assessee-from-frequently-changing-the-method-of-valuation-of-the-stocks.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-145a-have-disabled-the-assessee-from-frequently-changing-the-method-of-valuation-of-the-stocks.html#comments</comments>
		<pubDate>Mon, 07 Sep 2009 04:02:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[finance act]]></category>
		<category><![CDATA[financial statement]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[mercantile system]]></category>
		<category><![CDATA[method of accounting]]></category>
		<category><![CDATA[section 145]]></category>
		<category><![CDATA[UNUTILIZED MODVAT CREDIT & 145A]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=11521</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by: ITAT, DELHI BENCH `A&#8217; : New Delhi,  In The case of: Ananta Raj  proteins Ltd. v. DCIT , Appeal No.: ITA No. 890 &#38; 891/D/2007, Decided on: June 30, 2009 RELEVENT PARAGRAPH 13. It may be mentioned that provisions of section 145A were inserted by the Finance Act No. 2, 1998 [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>DEPB and Duty Drawback are not eligible for deduction u/s 80-IB</title>
		<link>http://taxguru.in/income-tax-case-laws/depb-and-duty-drawback-are-not-eligible-for-deduction-us-80-ib.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/depb-and-duty-drawback-are-not-eligible-for-deduction-us-80-ib.html#comments</comments>
		<pubDate>Thu, 03 Sep 2009 01:49:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[customs duty]]></category>
		<category><![CDATA[Deduction u/s 80-IB]]></category>
		<category><![CDATA[depb]]></category>
		<category><![CDATA[duty drawback]]></category>
		<category><![CDATA[eligible business]]></category>
		<category><![CDATA[eligible businesses]]></category>
		<category><![CDATA[export product]]></category>
		<category><![CDATA[import content]]></category>
		<category><![CDATA[industrial undertaking]]></category>
		<category><![CDATA[tax incentives]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=11990</guid>
		<description><![CDATA[Decided by: Supreme Court of India, In The case of: M/s Liberty India versus Commissioner of Income Tax, Appeal No.: Civil Appeal No. of 2009 (arising out of S.L.P.(C) No. 5827/07), Decided on: August 31, 2009 SUMMARY OF CASE LAW The assessee claimed that profit from Duty Entitlement Passbook Scheme (DEPB) and Duty Drawback Scheme are “derived from the business [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>ICAI will soon recommend Accounting standered for Insurance sector</title>
		<link>http://taxguru.in/finance/icai-will-soon-recommend-accounting-slandered-for-insurance-sector.html</link>
		<comments>http://taxguru.in/finance/icai-will-soon-recommend-accounting-slandered-for-insurance-sector.html#comments</comments>
		<pubDate>Tue, 01 Sep 2009 02:30:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[as for insurance]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[insurance companies]]></category>
		<category><![CDATA[insurance sector]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=11903</guid>
		<description><![CDATA[The Institute of Chartered Accountants of India (ICAI) is likely to come out with insurance specific accounting standards in the next three months, a top official said. &#8221;We are likely to come out with it (insurance sector accounting standards) in the next two-three months,&#8221; ICAI President, Uttam Prakash Agarwal, told. A group of experts has been [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>SEBI may offer listed companies option of switching over to  IFRS for improved corporate governance</title>
		<link>http://taxguru.in/sebi/sebi-may-offer-listed-companies-option-of-switching-over-to-ifrs-for-improved-corporate-governance.html</link>
		<comments>http://taxguru.in/sebi/sebi-may-offer-listed-companies-option-of-switching-over-to-ifrs-for-improved-corporate-governance.html#comments</comments>
		<pubDate>Wed, 19 Aug 2009 02:21:55 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit firms]]></category>
		<category><![CDATA[consolidated financial statement]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[financial derivatives]]></category>
		<category><![CDATA[financial reporting standards]]></category>
		<category><![CDATA[INTERNATIONAL FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[limited review]]></category>
		<category><![CDATA[market regulator]]></category>
		<category><![CDATA[sebi committee]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=11369</guid>
		<description><![CDATA[Sebi will soon offer listed companies the option of switching over to the International Financial Reporting Standards for improved corporate governance, but is yet to take a decision on allowing quarterly audits, due to stiff opposition from companies themselves. The move to adopt the International Financial Reporting Standards, or IFRS, a globally-accepted accounting standard, will [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI requested to Maharashtra govt to Restore audit limit for non-CAs,</title>
		<link>http://taxguru.in/finance/icai-requested-to-maharashtra-govt-to-restore-audit-limit-for-non-cas.html</link>
		<comments>http://taxguru.in/finance/icai-requested-to-maharashtra-govt-to-restore-audit-limit-for-non-cas.html#comments</comments>
		<pubDate>Fri, 29 May 2009 02:54:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accountancy]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[auditing]]></category>
		<category><![CDATA[Auditing Standards]]></category>
		<category><![CDATA[Auditor]]></category>
		<category><![CDATA[audits]]></category>
		<category><![CDATA[bombay]]></category>
		<category><![CDATA[bombay hospital]]></category>
		<category><![CDATA[certified auditor]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[hospital trust]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[institutions]]></category>
		<category><![CDATA[maharashtra government]]></category>
		<category><![CDATA[prakash agarwal]]></category>
		<category><![CDATA[regulators]]></category>
		<category><![CDATA[tata memorial]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8686</guid>
		<description><![CDATA[Objecting to the Maharashtra government’s decision of removing the audit limit for non-CAs government-authoris ed auditors, the accounting regulator Institute of Chartered Accountants of India (ICAI) has urged to restore the audit limit of Rs 1 lakh at the earliest. No audit limit enables the auditors to perform audit of trusts of any size. ICAI [...]]]></description>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Frequently Asked Questions on AS 11 related to Exchange Rate difference</title>
		<link>http://taxguru.in/finance/frequently-asked-questions-on-as-11-related-to-exchange-rate-difference.html</link>
		<comments>http://taxguru.in/finance/frequently-asked-questions-on-as-11-related-to-exchange-rate-difference.html#comments</comments>
		<pubDate>Mon, 18 May 2009 14:17:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[acquisition]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[balance life]]></category>
		<category><![CDATA[capital asset]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[exchange differences]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[fluctuation]]></category>
		<category><![CDATA[foreign currency]]></category>
		<category><![CDATA[foreign exchange rates]]></category>
		<category><![CDATA[gain]]></category>
		<category><![CDATA[guidance note]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[installments]]></category>
		<category><![CDATA[loans]]></category>
		<category><![CDATA[notifications]]></category>
		<category><![CDATA[tax]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8320</guid>
		<description><![CDATA[Frequently Asked Questions on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs.  ASB Guidance in the form of FAQs on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs does [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>ICAI planning specific accounting standards for insurance sector</title>
		<link>http://taxguru.in/finance/icai-planning-specific-accounting-standards-for-insurance-sector.html</link>
		<comments>http://taxguru.in/finance/icai-planning-specific-accounting-standards-for-insurance-sector.html#comments</comments>
		<pubDate>Wed, 13 May 2009 04:21:40 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[insurance firms]]></category>
		<category><![CDATA[insurance regulator]]></category>
		<category><![CDATA[insurance regulatory development authority]]></category>
		<category><![CDATA[insurance sector]]></category>
		<category><![CDATA[life insurance companies]]></category>
		<category><![CDATA[norms]]></category>
		<category><![CDATA[revenue generation]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8052</guid>
		<description><![CDATA[The accounting regulator the Institute of Chartered Accountants of India (ICAI) has constituted an expert group to suggest sector-specific accounting norms for insurance companies. The move aims at ensuring that financial statements of insurance firms reflect true natures of financial arrangements. ICAI president Uttam Prakash Agarwal confirmed the development. &#8220;ICAI is planning to come up [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>I-T department slaps Rs 400-cr notice on DLF for the fiscal year ended March 31, 2006</title>
		<link>http://taxguru.in/income-tax/i-t-department-slaps-rs-400-cr-notice-on-dlf-for-the-fiscal-year-ended-march-31-2006.html</link>
		<comments>http://taxguru.in/income-tax/i-t-department-slaps-rs-400-cr-notice-on-dlf-for-the-fiscal-year-ended-march-31-2006.html#comments</comments>
		<pubDate>Fri, 08 May 2009 17:22:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[Auditor]]></category>
		<category><![CDATA[bombay stock exchange]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[market regulator]]></category>
		<category><![CDATA[Reassessment]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=7903</guid>
		<description><![CDATA[DLF, the country&#8217;s biggest real estate developer, said the Income Tax  (I-T) Department, had raised an additional demand of Rs 300-400 crore for understating its income for the fiscal year ended March 31, 2006. The tax demand comes at a time when DLF&#8217;s profit has shrunk by 41 per cent to Rs 4,629 crore for [...]]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/i-t-department-slaps-rs-400-cr-notice-on-dlf-for-the-fiscal-year-ended-march-31-2006.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI &#8211; Announcement Relating to AS-11</title>
		<link>http://taxguru.in/finance/icai-announcement-relating-to-as-11.html</link>
		<comments>http://taxguru.in/finance/icai-announcement-relating-to-as-11.html#comments</comments>
		<pubDate>Sat, 04 Apr 2009 02:11:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[AS]]></category>
		<category><![CDATA[Companies Act]]></category>
		<category><![CDATA[foreign exchange rates]]></category>
		<category><![CDATA[ICAI]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=4566</guid>
		<description><![CDATA[Standard-11 relating to The Effects of Changes in Foreign Exchange Rates earlier prescribed under the Companies (Accounting Standards) Rules 2006 has been now amended by the Central Government, in terms of the powers conferred on them under the Companies Act, 1956, vide Notification dated 31st March, 2009. The said Notification contains an amendment i.e. a new Paragraph-46 to be inserted in the AS-11 earlier prescribed as aforementioned. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI opposes RBI move to relax the provisioning norms for NPA</title>
		<link>http://taxguru.in/rbi/icai-opposes-rbi-move-to-relax-the-provisioning-norms-for-npa.html</link>
		<comments>http://taxguru.in/rbi/icai-opposes-rbi-move-to-relax-the-provisioning-norms-for-npa.html#comments</comments>
		<pubDate>Wed, 18 Mar 2009 16:37:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[balance sheets]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Comptroller and Auditor General]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[non performing assets]]></category>
		<category><![CDATA[NPA]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3436</guid>
		<description><![CDATA[The Institute of Chartered Accountants of India, which frames accounting standards for the country, has opposed a proposal of the Reserve Bank of India to relax the provisioning norms for non-performing assets. According to the proposal, commercial banks need not classify a non-serviced loan under NPAs if the borrower has submitted an application for restructuring [...]]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/icai-opposes-rbi-move-to-relax-the-provisioning-norms-for-npa.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What is the right medicine for C.A. profession?</title>
		<link>http://taxguru.in/chartered-accountant/what-is-the-right-medicine-for-ca-profession.html</link>
		<comments>http://taxguru.in/chartered-accountant/what-is-the-right-medicine-for-ca-profession.html#comments</comments>
		<pubDate>Mon, 16 Mar 2009 19:39:19 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit profession]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[right medicine]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3412</guid>
		<description><![CDATA[The present crisis of confidence in the audit profession among users and stakeholders, arising from recent market events has to be addressed in a fair manner. The profession, regulators and all concerned have to determine – what is the right medicine? A professional issue requires a professional response. Thus, the fundamental point is that the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI may defer AS 11 relaxation which may take its toll on the bottom lines of Indian companies</title>
		<link>http://taxguru.in/finance/icai-may-defer-as-11-relaxation-which-may-take-its-toll-on-the-bottom-lines-of-indian-companies.html</link>
		<comments>http://taxguru.in/finance/icai-may-defer-as-11-relaxation-which-may-take-its-toll-on-the-bottom-lines-of-indian-companies.html#comments</comments>
		<pubDate>Sun, 15 Mar 2009 13:15:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[AS 11]]></category>
		<category><![CDATA[exchange rate fluctuations]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[institute of chartered accountants of india]]></category>
		<category><![CDATA[profit and loss account]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3315</guid>
		<description><![CDATA[The upcoming general elections could take its toll on the bottom lines of a host of Indian companies that have accessed overseas debt. The Institute of Chartered Accountants of India (ICAI) has deferred a decision on relaxing accounting standard 11 (AS 11), which mandates mark-to-market (MTM) provisioning in the profit and loss account for foreign [...]]]></description>
		<wfw:commentRss>http://taxguru.in/finance/icai-may-defer-as-11-relaxation-which-may-take-its-toll-on-the-bottom-lines-of-indian-companies.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI audit norms will get legal status : Prem Chand Gupta</title>
		<link>http://taxguru.in/chartered-accountant/icai-audit-norms-will-get-legal-status-prem-chand-gupta.html</link>
		<comments>http://taxguru.in/chartered-accountant/icai-audit-norms-will-get-legal-status-prem-chand-gupta.html#comments</comments>
		<pubDate>Thu, 22 Jan 2009 02:22:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[audit firms]]></category>
		<category><![CDATA[audit standards]]></category>
		<category><![CDATA[Auditor]]></category>
		<category><![CDATA[chartered accountants of india]]></category>
		<category><![CDATA[Examination]]></category>
		<category><![CDATA[Examinations]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[price waterhouse]]></category>
		<category><![CDATA[statutory auditor]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=1603</guid>
		<description><![CDATA[To bring in a more transparent and credible auditing system in the country, the government proposes to give explicit legal status to the audit standards prepared by the Institute of Chartered Accountants of India (ICAI), minister of corporate affairs Prem Chand Gupta said here on Saturday. The minister said that the Companies Bill, 2008, now [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Centre May Amend AS21 to Plug Gaps in Accounting Practices</title>
		<link>http://taxguru.in/finance/centre-may-amend-as21-to-plug-gaps-in-accounting-practices.html</link>
		<comments>http://taxguru.in/finance/centre-may-amend-as21-to-plug-gaps-in-accounting-practices.html#comments</comments>
		<pubDate>Thu, 23 Oct 2008 01:52:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accountability]]></category>
		<category><![CDATA[accounting practices]]></category>
		<category><![CDATA[accounting standard]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[balance sheets]]></category>
		<category><![CDATA[consolidated financial statements]]></category>
		<category><![CDATA[economic activities]]></category>
		<category><![CDATA[financial information]]></category>
		<category><![CDATA[financial performance]]></category>
		<category><![CDATA[mandatory parent]]></category>
		<category><![CDATA[norms]]></category>
		<category><![CDATA[parent company]]></category>
		<category><![CDATA[profits]]></category>
		<category><![CDATA[Registrar of Companies]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/10/23/centre-may-amend-as21-to-plug-gaps-in-accounting-practices/</guid>
		<description><![CDATA[ The government may amend an accounting norm that gives certain exemptions to companies from consolidating the balance sheets of subsidiaries with that of the parent under certain circumstances. The idea is to ensure that companies do not take undue advantage of the exemption and give an unrealistic picture of their financial health. Making it compulsory to consolidate the financial statements of all subsidiaries with that of the parent will give the cumulative effect of all the subsidiaries’ financial performance.    ]]></description>
		<wfw:commentRss>http://taxguru.in/finance/centre-may-amend-as21-to-plug-gaps-in-accounting-practices.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Translation Losses under Production Sharing Contract Care Not Illusory Losses</title>
		<link>http://taxguru.in/income-tax-case-laws/translation-losses-under-production-sharing-contract-care-not-illusory-losses.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/translation-losses-under-production-sharing-contract-care-not-illusory-losses.html#comments</comments>
		<pubDate>Wed, 10 Sep 2008 04:12:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[consortium]]></category>
		<category><![CDATA[conversion]]></category>
		<category><![CDATA[converter]]></category>
		<category><![CDATA[currency translation]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[foreign currency]]></category>
		<category><![CDATA[revenue expenditure]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/09/10/translation-losses-under-production-sharing-contract-care-not-illusory-losses/</guid>
		<description><![CDATA[CIT vs. Enron Oil &#038; Gas (Supreme Court) - Where the Assessee had entered into a production sharing contract with a consortium which was governed by section 42 of the Act and the assessee made contribution at a certain rate to the consortium whereas the expenditure incurred out of the said contribution stood converted on the basis of a different exchaneg rate which exercise resulted into a loss on conversion of foreign currency to the assessee and the AO held the loss to be a notional loss]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/translation-losses-under-production-sharing-contract-care-not-illusory-losses.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Notification on Accounting Standards by the Central Government under The Companies Act, 1956</title>
		<link>http://taxguru.in/company-law/notification-of-accounting-standards-by-the-central-government-under-the-companies-act-1956.html</link>
		<comments>http://taxguru.in/company-law/notification-of-accounting-standards-by-the-central-government-under-the-companies-act-1956.html#comments</comments>
		<pubDate>Sat, 17 May 2008 05:10:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[audits]]></category>
		<category><![CDATA[compliance]]></category>
		<category><![CDATA[consequences]]></category>
		<category><![CDATA[constitution]]></category>
		<category><![CDATA[Examinations]]></category>
		<category><![CDATA[forms]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[shareholders]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/05/17/notification-of-accounting-standards-by-the-central-government-under-the-companies-act-1956/</guid>
		<description><![CDATA[The Government recognises the importance of financial reporting in providing essential financial information about the company to its shareholders and other stakeholders, as an integral and important part of good corporate governance. Such information needs to be reliable, free from bias and should enable comparison on the basis of common benchmarks. This, in turn, necessitates an appropriate, financial reporting system in the form of accounting standards that incorporate sound accounting principles and reflect a true picture of the financial health of the company while ensuring legally enforceable accountability.]]></description>
		<wfw:commentRss>http://taxguru.in/company-law/notification-of-accounting-standards-by-the-central-government-under-the-companies-act-1956.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Deferred tax under MAT?</title>
		<link>http://taxguru.in/income-tax/deferred-tax-under-mat.html</link>
		<comments>http://taxguru.in/income-tax/deferred-tax-under-mat.html#comments</comments>
		<pubDate>Tue, 30 Oct 2007 12:20:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[book profits]]></category>
		<category><![CDATA[deferred tax]]></category>
		<category><![CDATA[deferred tax asset]]></category>
		<category><![CDATA[Deferred Tax Liability]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[mat]]></category>
		<category><![CDATA[tax impact]]></category>
		<category><![CDATA[timing differences]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2007/10/30/deferred-tax-under-mat/</guid>
		<description><![CDATA[The treatment of deferred tax charge in determining the tax liability under the special provisions of Section 115JB of the Income-Tax Act is one such case. Section 115JB levies minimum alternate tax (MAT) at 10% of book profits (plus surcharge and cess thereon) if such tax is higher than the tax payable under the normal provisions of the Act. Book profits, for this purpose, needs to be calculated by making certain specified adjustments to the net profit as shown in the profit &#038; loss account prepared in accordance with the Companies Act and after taking into account accounting policies and accounting standards adopted for preparing such accounts.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI comes out with new Accounting Standard</title>
		<link>http://taxguru.in/finance/icai-comes-out-with-new-accounting-standard.html</link>
		<comments>http://taxguru.in/finance/icai-comes-out-with-new-accounting-standard.html#comments</comments>
		<pubDate>Wed, 24 Oct 2007 05:59:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[AS]]></category>
		<category><![CDATA[business entities]]></category>
		<category><![CDATA[convertible debentures]]></category>
		<category><![CDATA[debt derivatives]]></category>
		<category><![CDATA[equity capital]]></category>
		<category><![CDATA[financial instruments]]></category>
		<category><![CDATA[financial liability]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[institute of chartered accountants]]></category>
		<category><![CDATA[investment portfolios]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[losses]]></category>
		<category><![CDATA[preference shares]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2007/10/24/icai-comes-out-with-new-accounting-standard/</guid>
		<description><![CDATA[Corporates houses, banks and financial institutions have got just 18 months to begin the changeover to a new set of transparency, inducing accounting standards that will have a major impact on their financial statements. The new norms to classify, value and disclose the complex financial instruments they trade in is expected to change the way exposure to many instruments are reported now, besides capturing many unreported exposures. Accounting standard setter the Institute of Chartered Accountants of India (ICAI) last Friday decided to introduce the new standards —recognition and measurement of financial instruments — from April 1, 2009. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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