SC: Amendments to Government Orders Must Be Construed Fairly to Prevent Hardship || SC: Divorce Settlement Waiver Bars Revival of Monetary Claim under DV Act || Supreme Court: Plaint Cannot Be Rejected Where Ad Valorem Court Fee Depends on Disputed Facts || SC: Bail in Serious Offences like Murder Cases Must be Supported by Clear and Justifiable Reasons || Gauhati HC: Legal Heir Not Made Party Can Challenge Ex-Parte Succession Certificate || Allahabad HC: Hijab Not Essential Islamic Practice, Rejects Plea to Wear It With School Uniform || Gauhati HC: 24-Hour Limit for Magistrate Production Starts From Initial Detention under NDPS Act || Gujarat HC Orders Human Verification of AI-Generated Case Law in Tax Orders, Warns of Contempt || Madras HC: Pending Domestic Violence Case Alone Cannot Curtail Husband’s Right to Travel Abroad || Rajasthan HC: Son’s Coparcenary Claim Fails without Proof of Hindu Undivided Family

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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