SC: Repeated Anticipatory Bail Pleas Abuse Process and Reduce Litigation to a Gamble || Supreme Court: State Officers Cannot Back Litigants Through Affidavits Against the Law || Supreme Court: Accused Deserves Parity With Discharged Co-Accused if Evidence is Not Stronger || SC Allows Euthanasia of Rabid Stray Dogs if Necessary and Protects Officials Acting in Good Faith || Kerala High Court: University Syndicate Cannot Sue Chancellor as Both Form Same Legal Body || Kerala High Court: Unsigned FIS is Admissible if Informant Confirms its Contents in Court || J&K&L High Court: Purchaser’s Structure on Migrant Land Alone Cannot Block Sale Deed Registration || Supreme Court: Bail Remains the Rule and Jail the Exception, Even under the UAPA Law || Supreme Court: Principle of Res Judicata Also Applies Between Stages of the Same Case || Supreme Court: Govt Servant Has No Right to Old Rule Promotion Just Due to Earlier Vacancies

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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