(i) The adjustment should be of an amount which is equivalent to the extent to which the exchange loss does not exceed the difference between the cost of borrowing in functional currency when compared to the cost of borrowing in a foreign currency.
Consolidated Financial Statements of an entity are prepared for a group as defined in Ind AS 110, Consolidated Financial Statements. There may be some occasions where preparation of Consolidated Financial Statements would not be appropriate because of absence of control, e.g., in group loan arrangements, take-overs, demergers, spin-offs and initial public offerings, etc.
Exposure Draft issued by the International Accounting Standards Board (IASB) on Definition of a business and accounting for previously held interests (proposed amendments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements), is for comment only.
Exposure Draft of amendments to Ind AS 102, Share Based payments has been issued by the Accounting Standards Board of the ICAI, for public comments with last date as September 05, 2016, clarifying how to account for certain types of share-based payment transactions. The amendments, which provide requirements on the accounting for the following:
Coordination is the very important aspect in any Organization. It brings unity of action and integrates different activities of organization. Coordination is the most important function of an organization. It refers to bringing together the activities of an organization to achieve the objectives
The Prime Minister, Shri Narendra Modi, today described the Goods and Services Tax (GST) as a Great Step by Team India, a Great Step Towards Transformation, and a Great Step Towards Transparency.
The facility of e-verification of IT returns has been used by over 75.3 Lakh taxpayers till 5th August, 2016 as compared to 32.95 Lakh taxpayers last year till 7th September 2015. Of these Aadhar based E- verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16.
Attention is invited to the provisions contained in Section 11B of the Central Excise Act, 1944 (CEA) which provides for grant of refund of duty of excise and interest, if any, paid on such duty. Further the incidence of duty or interest is deemed to be passed on to the buyer of goods by the person paying it in terms of Section 12B of the CEA.
Draft Recruitment Rules Dated: F.No. HRD/CMD/121/3/2015-16/2892 dated 08.08.2016 08.08.2016 Sports Quota Recruitment – 2016-17 Dated: 08.08.2016 Draft Recruitment Rules for the post of Income Tax Officer F.No. HRD/CMD/121/3/2015-16/2804 dated 08.08.2016 Draft Recruitment Rules for the post of Pr. Administrative Officer – F.No. A35015/43/2014-Ad VI/2805 Dated: 08.08.2016 Also Read- CBDT notifies Draft Recruitment Rules for Various […]
This petition for winding up has been preferred by the company itself without referring to the relevant clause of Section 433 of the Companies Act, 1956 (‘the Act’ in short), however, in course of argument it was informed that the petition is under Section 433 (e) of the Act.
