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.
Full Article
F.No. 402/78/2009-ITCC Dated 28-8-2009 Issued By:- Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, CONSTITUTION OF A COMMITTEE TO EXAMINE THE SUGGESTIONS ON THE DRAFT DIRECT TAXES CODE
Full Article