SC: Reserved Category Candidate Who Availed Prelims Relaxation Cannot Claim an Unreserved Seat || SC: Public Sector Enterprises Cannot Act Against Retired Employees Without Clear Rules || Supreme Court: Single FIR is Permissible in Mass Cheating Cases Arising From One Conspiracy || SC: Courts Cannot Take Cognizance of Time-Barred Cheque Bounce Cases Without Condoning Delay || SC: Exoneration in Disciplinary Proceedings Does Not Always Bar Criminal Prosecution || SC: Judge Cannot Be Presumed Biased Merely Because a Litigant’s Relative Is Police or Court Staff || Delhi HC: Delays From Medical Review Cannot Justify Ante-Dated Seniority For BSF Candidates || Allahabad HC: Being ‘Proclaimed Offender’ Does Not Completely Bar Grant of Anticipatory Bail || Delhi HC: Abortion by a Married Woman For Marital Discord is Legal under The MTP Act || NCLT Kochi: Fraud Has No Time Limit and Directors Cannot Use Delay As a Defense

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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