SC: Valid Bareboat Charter Termination Extinguishes Demise Charter, Vessel Arrest Vacated || SC: Absence of Train Ticket No Ground to Deny Compensation for Passenger’s Death || Patna HC: Routine FIR Involvement alone cannot Deny Arms Licence without Safety Threat || Chhattisgarh HC: WhatsApp Chats Proving Mental Cruelty cannot be Ignored on Evidence Grounds || Delhi HC: Foreign Travel Restrictions must not Obstruct Pregnant Foreigner's Medical Care || MP High Court: Article 227 Cannot Be Invoked to Quash Wife’s Conjugal Rights Proceedings || Kerala High Court Issues Directions on Driver Profiling, Bus Regulation and Road Safety || Delhi HC: Prior Permission for Foreign Travel Unjustified When Accused Was Never Arrested || Air India Penalised Rs. 50K Over De-boarding Disabled Woman and Wheelchair Damage || Delhi HC: Muslim Personal Law cannot Shield Sex with Minor Wife from POCSO Case

Comments invited on minimum alternate tax report- (Ministry of Finance ) (28 Apr 2016)

MANU/PIBU/0402/2016

Direct Taxation

The Central Board of Direct Taxes is receiving comments on the recommendations of the Committee on Minimum Alternate Tax for Indian Accounting Standards till 10 May 2016.

The Committee submitted its Report on 18 March 2016, taking into consideration Ministry of Corporate Affairs input on assessment of net profit. The Report discusses adjustments that must be made to net profit on account of unrealised gains. It also provides for reporting of adjustments in the opening Ind AS balance sheet, which may differ from Indian GAAP financial statements.

Tags : MINIMUM ALTERNATE TAX COMPANY IND AS

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