Search Results for Tag : Accounting

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Central Government amends Companies (Indian Accounting Standards) Amendment Rules, 2020(24.07.2020)

The Central Government, in consultation with the National Financial Reporting Authority amends the Companies (Indian Accounting Standards) Rules, 2015.....

Tags : Accounting standards, Amendment, Rules

News

Companies With Over Rs 500 Crore Net-Worth Now to Follow New Accounting Rules(31.03.2016)

Companies with a net-worth of Rs 500 crore or more will have to follow the new Indian Accounting Standards (Ind AS) from April 1. The new standards ar.....

Tags : Companies, New Accounting Rules

IRDAI Defers Implementation of Indian Accounting Standards in Insurance Sectors(22.01.2020)

Insurance Regulatory and Development Authority of India has decided to defer the implementation of Indian Accounting Standards in the Insurance Sector.....

Tags : Insurance Regulatory and Development Authority of India, Indian Accounting Standards

SEZ Rules Amended to Make Legal, Accountancy Services From Foreign Entities Possible in SEZs(16.01.2017)

Govt has amended Special Economic Zones Rules to removes exclusion of Legal Services & Accounting from ambit of ‘services’, thereby waving a way to ma.....

Tags : Special Economic Zones Rules, Legal Services, Accounting

Notifications & Circulars

SEBI proposes changes to InvIT disclosures(15.06.2016)

The Securities and Exchange Board of India released a consultation paper

Tags : invit regulations, disclosure, accounting standards

Reporting and accounting of Central Government transactions of March 2021(18.03.2021)

1. Please refer to Circular DGBA.GBD.No.1744/42.01.029/2019-20 dated March 17, 2020 advising the procedure to be followed for reporting and accounting.....

Tags : Reporting, Accounting, Transactions

Accounting of premium, claims and related expenses on estimation basis(15.06.2022)

1. At present, para 2 of Part I of Schedule B of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors .....

Tags : Accounting, Premium, Estimation basis

Timeframe for implementation of Ind AS for scheduled commercial banks(11.02.2016)

The Reserve Bank of India notified scheduled commercial banks are required to comply with Indian Accounting Standards (Ind AS) for accounting periods .....

Tags : Indian accounting standards, commercial banks, implementation

Accounting code for payment of Krishi Kalyan Cess(26.05.2016)

The Ministry of Finance allotted ‘Krishi Kalyan Cess’, levied on all taxable services from 1 June 2016, its distinct accounting code.

The t.....

Tags : krishi kalyan cess, accounting code, 2016

Indian Government Accounting Standard on Prior Period Adjustments(02.03.2023)

Whereas, accounting on cash basis recognises prior period items for rectification of errors or adjustment of financial statements for one or more prio.....

Tags : Accounting, Standard, Prior Period

Reporting and Accounting of Central Government transactions of March 2021 - Change of date of closure(07.04.2021)

1.This is with reference to Circular DGBA.GBD.No.S-140/42.01.029/2020-21 dated March 18, 2021 where in the date of closure for reporting residual tran.....

Tags : Reporting, Accounting, Transactions

RBI seeks Comments/Feedback on Report of the Working Group on the Implementation of Indian Accounting (20.10.2015)

Reserve Bank of India has released the Report of the Working Group on the Implementation of Indian Accounting Standards by Banks in India. The Report .....

Tags : Rbi, international reporting, accounting, india, standards, budget

Sale of Securities held in Held to Maturity (HTM) Category - Accounting treatment(10.06.2019)

Please refer to Para 16.2 of Master Circular DCBR.BPD.(PCB).MC.No.4/16.20.000/2015-16 dated July 01, 2015 on Investments by Primary (Urban) Co-operati.....

Tags : Securities, Sale, Accounting treatment

Power Ministry mandates energy accounting of DISCOMs with a view to reduce electricity losses(11.10.2021)

As an important step under the ongoing power sector reforms, Ministry of Power today mandated electricity distribution companies to undertake energy a.....

Tags : Energy accounting, DISCOMs, Electricity losses

Draft Reporting System on Accounting Separation Regulations, 2016(22.02.2016)