SC: Disciplinary Proceedings Cannot Follow if an Officer is Discharged on the Same Charge || SC Clarified the Distinction Between Arbitration “Seat” And “Venue” While Summarising Key Principles || Supreme Court: Wife and Her Family Cannot Be Prosecuted For Dowry-Giving Based On Her Complaint || SC: Plaint Cannot Be Rejected Under Order VII Rule 11 CPC on the Ground of Order II Rule 2 Bar || Supreme Court Has Issued an SOP Prescribing Strict Timelines For Filing Legal Aid Appeals || Madras HC: Dhurandhar 2 Release Cannot be Stalled Due to Objections From a Small Section || Delhi HC: Lokpal May Form Prima Facie Opinion Before Show Cause Notice Without Prior Hearing || Bom HC: Family Courts Cannot Casually Order a Spouse’s Medical Examination to Assess Mental Health || Bombay HC: Child Care Leave Protects Motherhood and Denial Violates Rights of Mother and Child || Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income

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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