Supreme Court: Award Valid Even If Passed After Mandate Expiry When Court Extends Time || Jharkhand HC: Regular Bail Plea During Interim Bail is Not Maintainable under Section 483 BNSS || Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC || Delhi High Court: Elective Surgery Does Not Bar Grant of Interim Bail on Medical Grounds || Delhi HC: Consensual Romance With Minor Nearing 18 May be Considered For Bail in POCSO Case || Delhi HC: Not Named In FIR Doesn’t Matter If Financial Links Show Active Role in NDPS Offence || Chhattisgarh HC: Rape is an Affront to Womanhood and a Brutal Violation of The Right To Life || Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities || Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged || Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act

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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